Veteran & VA Loan Buyer’s Guide

Why the VA loan is one of the best in the country

• 0% down payment for eligible buyers, no down payment required in most cases.
• No private mortgage insurance (PMI), unlike most low-down-payment loans.
• Competitive interest rates and more flexible credit guidelines.
• A reusable benefit, your entitlement can be restored and used again.

Eligibility & your Certificate of Eligibility (COE)

• Generally available to qualifying active-duty service members, veterans, National Guard/Reserve, and some surviving spouses.
• Service-length requirements vary by era and status.
• Your lender can pull your COE, or you can request it directly through the VA.

The VA funding fee

Most VA loans include a one-time VA funding fee that helps keep the program running. The percentage varies based on your down payment and whether it’s your first use, and it can usually be financed into the loan.

• Veterans receiving VA compensation for a service-connected disability are typically exempt from the funding fee.
• The exact percentage is set by the VA and changes, confirm your fee with a VA-approved lender.

How the VA buying process differs

• VA appraisal & “Notice of Value”: the VA appraises the home and checks it against Minimum Property Requirements (MPRs) for safety and condition.
• Sellers can pay certain costs, and some fees can’t be charged to the veteran.
• VA loans are for primary residences, not investment properties.

Building a home with VA financing

VA construction-to-permanent financing lets eligible buyers build from the ground up with a single loan. It’s more specialized, so work with a lender experienced in VA construction loans, something I help veterans navigate often.

Winning offers with a VA loan

• VA offers are strong, competitive offers, don’t let anyone tell you otherwise.
• Work with an agent and lender who know VA inside and out.
• Get a fully underwritten pre-approval to strengthen your position.