Loan program
VA Loans
VA loans are guaranteed by the U.S. Department of Veterans Affairs as a benefit earned through military service. They're built to reduce the cost of homeownership for those who've served, most notably by removing the down payment requirement that applies to most other loan types.
Good fit for
- Eligible active-duty service members and veterans
- Certain surviving spouses of veterans
- Buyers who want to avoid a down payment and avoid monthly mortgage insurance
Key features
- No down payment required
- Most eligible borrowers can finance 100% of the purchase price, subject to the lender's and VA's guidelines.
- No monthly mortgage insurance
- Unlike FHA and most conventional loans with less than 20% down, VA loans don't carry monthly mortgage insurance.
- VA funding fee
- Most borrowers pay a one-time VA funding fee, which can often be financed into the loan; some borrowers (such as those receiving VA disability compensation) are exempt.
- Certificate of Eligibility
- Eligibility is confirmed through a Certificate of Eligibility (COE), which your loan officer can help you request.
Common questions
Can I use my VA benefit more than once?
Yes, in many cases. VA entitlement can potentially be reused or restored — the specifics depend on your service history and any prior VA loans.
Is a VA loan only for buying a home?
No. The VA program also supports refinancing, including the VA Interest Rate Reduction Refinance Loan (IRRRL) for existing VA borrowers.
Talk through va loans with a licensed loan officer
Get a straight answer on whether this program fits your situation. A consultation is free and carries no obligation.
Educational overview only. Nothing on this page is a rate quote, an eligibility determination, or a commitment to lend. See Licensing & Disclosures for current licensing. Equal Housing Opportunity.