What makes it different
No down payment requirement for an eligible borrower, and no monthly mortgage insurance. No other widely available loan does both. The VA also sets no minimum credit score of its own — individual lenders set theirs.
Full detail is on the VA loan page.
Entitlement and restoration
Entitlement is the amount the VA guarantees on your behalf. Most eligible borrowers have full entitlement and never think about it. It gets complicated if you already have a VA loan on another property, if a previous VA loan ended in a short sale or foreclosure, or if you have used part of your entitlement and want the rest.
All three are workable. All three are also where files get quietly declined by lenders who would rather not do the work. We handle restoration paperwork ourselves, which is usually the difference between a two-day answer and a two-week one.
Things worth knowing
- You can use the VA loan more than once, and you can have more than one at a time in defined circumstances.
- Most borrowers pay a one-time VA funding fee, which can be financed. Veterans receiving compensation for a service-connected disability are generally exempt from it.
- Surviving spouses who have not remarried may be eligible in defined circumstances.
- The property has to meet VA condition standards, which is a real consideration on older housing stock.
Start by getting your Certificate of Eligibility. We pull it for you. If your discharge paperwork is missing or your service record is complicated, say so on the first call — that is the part that takes time, not the loan itself.
Find out what you qualify for.
A licensed loan officer reviews what you send and tells you where you stand, in writing. No cost, and no obligation to go further.