VA loans.
Mortgage financing earned through service. $0 down payment, no private mortgage insurance, and competitive rates for eligible veterans, active-duty service members, National Guard, Reservists, and surviving spouses.
What is a VA loan?
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs — a benefit earned through service. The VA itself doesn’t lend money. It guarantees a portion of the loan made by an approved lender, which is how the program unlocks $0-down financing and rates typically reserved for borrowers with large down payments.
Earned through service
Created in 1944 as part of the original GI Bill, the VA loan program has helped more than 25 million Americans become homeowners. It’s one of the few mortgage products where eligibility is based on service rather than down payment.
Who qualifies for a VA loan?
Length-of-service requirements vary by era and call-up status. The first step is usually pulling your Certificate of Eligibility (COE) — Debbie’s office can request it directly through the VA’s lender portal.
Veterans
Veterans with qualifying service typically meet eligibility, with length-of-service requirements that vary by era. The COE confirms what entitlement is currently available.
Active-duty service members
Active-duty service members are typically eligible after 90 days of continuous service. Loan officers familiar with PCS timelines make relocations easier.
National Guard & Reserves
Guard and Reserve members typically qualify after six years of service, or after 90 days of active duty under federal orders.
Surviving spouses
Surviving spouses of service members who died in the line of duty or from a service-connected disability may be eligible. Specific eligibility depends on individual circumstances and VA determination.
How VA stacks up against conventional and FHA.
For eligible borrowers, the VA loan is almost always the cheapest path to homeownership. Here’s the side-by-side.
$0 down, no PMI, lower long-term cost
For eligible veterans and service members, VA pricing typically beats both conventional and FHA across the life of the loan.
- $0 down payment for full-entitlement borrowers
- No monthly private mortgage insurance — ever
- Rates typically as low as or lower than conventional
- Assumable by a qualified buyer if you sell
- VA-capped closing costs reduce out-of-pocket
The fallback when VA isn’t available
Conventional and FHA financing fill the gap when VA eligibility doesn’t apply, or for non-primary residences.
- Conventional: 3% – 20% down, PMI removable at 20% equity
- FHA: 3.5% down, mortgage insurance typically lasts the life of the loan
- Investment property and second-home options
- No funding fee — but PMI/MIP costs add up
The VA funding fee — and who’s exempt
VA loans typically include a one-time funding fee paid to the VA at closing. The fee varies by down payment, service category, and whether it’s your first VA use, and it can usually be financed into the loan rather than paid upfront.
Don’t pay a fee you may not owe
The funding fee is typically waived for veterans receiving (or eligible to receive) VA service-connected disability compensation, qualifying surviving spouses, and active-duty Purple Heart recipients. Debbie’s daughter is a U.S. Air Force veteran — she verifies funding fee status on every VA file so eligible borrowers don’t pay a fee they may not owe.
VA loan limits & property requirements
For veterans with full VA entitlement, there is no county loan limit on the amount you can borrow with $0 down. Veterans with partial entitlement (an existing VA loan still in place) are subject to county-specific limits. The home must be your primary residence and must pass a VA appraisal that confirms minimum property requirements (MPRs) and supports the contract value.
Already have a VA loan? The IRRRL.
If you already have a VA loan, the Interest Rate Reduction Refinance Loan (IRRRL) is a streamlined refinance that typically requires reduced documentation, no new appraisal, and a reduced funding fee. The new loan generally must produce a lower payment or a meaningful term/structure benefit.
The most powerful mortgage benefit you've earned.
Backed by the VA
The Department of Veterans Affairs guarantees a portion of your loan, which lets approved lenders extend favorable terms typically reserved for borrowers with large down payments.
$0 down, no PMI
Eligible borrowers may finance up to 100% of the purchase price with no private mortgage insurance — often saving $150–$400 per month versus a comparable FHA loan.
Assumable loan option
If you sell, a qualified buyer may be able to assume your VA loan at your existing rate — a rare and valuable feature when market rates are high.
Don't pay a fee you may not owe.
VA loans typically include a one-time funding fee, ranging from 1.25% to 3.3% of the loan amount. The fee can often be financed into the loan rather than paid at closing.
Veterans receiving VA disability compensation, qualifying surviving spouses of service members who died in service or from a service-connected disability, and Purple Heart recipients on active duty are typically exempt from the funding fee. Eligibility verification is part of every VA file Debbie originates.
Need help pulling your Certificate of Eligibility?
Debbie's office can request your COE directly through the VA's lender portal as part of pre-approval — typically the fastest way to confirm entitlement and benefit history.
Common VA loan questions.
Do I qualify for a VA loan if I'm a National Guard or Reserves member?
Often, yes. National Guard and Reserve members typically qualify after six years of service or 90 days of active duty under federal orders. Length-of-service requirements vary by era and call-up status, so the first step is usually pulling your Certificate of Eligibility through the VA, which Debbie can help request.
What's the VA funding fee and who's exempt?
The VA funding fee is a one-time charge that helps keep the program running. It typically ranges from 1.25% to 3.3% of the loan amount, depending on down payment and whether it's your first VA loan. Veterans receiving VA disability compensation, qualifying surviving spouses, and active-duty Purple Heart recipients are commonly exempt. Eligibility verification is reviewed on every file.
Can I use my VA loan benefit more than once?
Yes — VA loan entitlement may be restored and reused. Many veterans use the benefit multiple times across a career, including after selling a previous VA-financed home or paying off the prior loan. The amount of available entitlement depends on past use, so the COE will show what's currently available.
What's an IRRRL (VA Streamline Refinance)?
The Interest Rate Reduction Refinance Loan (IRRRL) is a streamlined refinance for borrowers who already have a VA loan. It typically requires reduced documentation, no new appraisal, and carries a reduced funding fee of 0.5%. The new loan generally must produce a lower payment or a meaningful term/structure benefit.
Can my surviving spouse use my VA loan eligibility?
In many cases, yes. Surviving spouses of service members who died in the line of duty or as a result of a service-connected disability may be eligible for VA loan benefits, including potential funding fee exemption. Specific eligibility depends on individual circumstances and VA determination.
What's the VA appraisal looking for?
The VA appraisal serves two purposes: it estimates the property's market value, and it confirms the home meets the VA's Minimum Property Requirements (MPRs) — things like a sound roof, working systems, no major safety hazards, and adequate access. Not all properties qualify, and some homes may need repairs to clear MPRs before closing.