0% down may be possible
VA generally does not require a down payment when the purchase price does not exceed the appraised value and the borrower has sufficient entitlement.
A HOME LOAN BENEFIT BUILT TO HONOR SERVICE
Your service earned a powerful home loan benefit.
VA home loans can offer qualified borrowers no down payment, no monthly mortgage insurance, limited closing costs, reusable entitlement, and flexible purchase and refinance options.
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WHY VA HOME LOANS STAND OUT
A benefit with advantages most mortgages cannot match
The VA guaranty can help eligible Veterans, service members, and surviving spouses obtain favorable mortgage terms through approved private lenders.
No monthly mortgage insurance
VA-backed loans do not require monthly PMI or FHA-style monthly mortgage insurance, which can materially reduce the monthly payment.
VA has no minimum credit score
VA itself does not set a minimum credit score. Lenders may impose their own credit requirements, so lender standards still matter.
A lifetime, reusable benefit
Your VA home loan benefit is not a one-time benefit. Entitlement can often be restored or remaining entitlement may be available for another home.
Seller help can go a long way
Eligible closing costs may be paid by the seller, and VA also permits seller concessions up to 4% of the home's reasonable value for certain additional items.
No prepayment penalty
VA-backed purchase loans do not charge a penalty simply because you pay the mortgage off early.
WHAT MANY VA BORROWERS DON'T REALIZE
There may be more power in your benefit than you think
These are some of the details that can change how you shop, structure an offer, or plan your next move.
You may be able to have two VA loans at once
If you have enough remaining entitlement and meet occupancy and lender requirements, you may be able to keep one VA-financed property and use VA again for another primary residence.
Full entitlement changes the loan-limit conversation
VA does not impose a county loan limit on borrowers with full entitlement. Your actual loan size is still limited by lender approval, income, credit, assets, purchase price, and appraisal.
Your funding fee may be waived
Some Veterans receiving qualifying service-connected disability compensation, certain surviving spouses, and certain active-duty Purple Heart recipients can be exempt from the VA funding fee.
VA loans are assumable
A qualified buyer, including a non-Veteran, may be able to assume an existing VA loan. Entitlement release is a separate issue and may require substitution of entitlement.
The 4% seller-concession rule is often misunderstood
VA's 4% cap applies to defined seller concessions. Normal eligible closing costs and reasonable discount points are treated separately under VA rules.
You can buy more than a single-family house
VA can be used for eligible condos, manufactured homes, and owner-occupied properties with up to four units, subject to VA and lender requirements.
An IRRRL can be a very different refinance
For an existing VA loan, an Interest Rate Reduction Refinance Loan can use streamlined underwriting and may allow eligible closing costs to be rolled into the new loan.
Temporary buydowns can work with VA
VA permits temporary buydowns funded by eligible parties. Qualification is still based on the full payment after the buydown period ends.
VA LOAN OPTIONS
Purchase, refinance, build, or use your benefit again
The right VA strategy depends on your entitlement, occupancy, property, current mortgage, cash-to-close goals, and long-term plans.
VA Purchase
Buy an eligible primary residence, often with no down payment and no monthly mortgage insurance.
VA IRRRL
Also called the VA Streamline. Designed for eligible borrowers refinancing an existing VA loan, subject to net tangible benefit and seasoning requirements.
VA Cash-Out Refinance
Refinance an eligible property and potentially access equity or replace a non-VA mortgage with VA financing, subject to current program and lender rules.
Build / Improve
VA can support eligible construction and certain purchase-and-improve transactions, although product availability varies by lender.
2–4 Units, Condos & Manufactured Homes
Eligible property types can extend beyond a detached home when VA occupancy and property requirements are satisfied.
Energy-Efficient Improvements
VA rules allow certain energy-efficiency improvements to be incorporated into qualifying transactions under applicable limits and documentation requirements.
THE VA PURCHASE ADVANTAGE
Keep more cash available for everything that comes after closing
When a qualified borrower can finance without a down payment and without monthly mortgage insurance, more cash may remain available for reserves, moving costs, furnishings, repairs, or simply keeping a stronger emergency fund.
Potentially little or no down paymentSubject to entitlement, appraisal, price and lender approval.
No monthly PMIA meaningful difference compared with many low-down-payment alternatives.
Negotiable seller-paid costsOffer structure can matter almost as much as the rate.
WHY THIS WORK MATTERS TO ME
Why serving Veterans is personal to me
My grandfather fought in World War II, and my uncle fought in Vietnam. Military service has never been an abstract idea in my family. Helping Veterans, active-duty service members, and eligible surviving spouses make the most of their VA home loan benefit is an honor. It is my privilege to serve those who risked everything to serve us.
“It is my honor to serve those who risked everything to serve us.”
— Aaron Lietz
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VA guidance from a real person who will explain the details
Hi, I'm Aaron Lietz. I'm a licensed Mortgage Loan Originator with Cornerstone First Mortgage. I help borrowers understand the parts of VA financing that are easy to miss — entitlement, COEs, funding-fee exemptions, seller concessions, residual income, occupancy, assumptions, and refinance strategy.
Licensed Mortgage Loan OriginatorAaron Lietz · NMLS #2281291
VA-focused guidancePurchase, IRRRL, cash-out and entitlement questions explained clearly.
Service is personal to meA family connection to World War II and Vietnam shapes how I approach Veteran borrowers.
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VA LOAN FAQ
VA home loans, explained clearly
Does VA require a minimum credit score?+
No. The Department of Veterans Affairs does not establish a minimum credit score for VA-backed loans. Individual lenders may set their own minimum scores and underwriting requirements.
Do I always need a down payment?+
Not necessarily. Qualified borrowers with sufficient entitlement may be able to purchase with no down payment when the purchase price does not exceed the appraised value. A down payment can still be required in some entitlement or appraisal situations.
Can I use my VA loan benefit more than once?+
Yes. VA describes the home loan guaranty as a lifetime benefit. Entitlement can often be restored after a prior VA loan is paid off, and remaining entitlement may sometimes support another VA loan before the first is paid off.
What is the VA funding fee?+
The funding fee is a one-time charge on many VA loans that helps support the program. The amount depends on the transaction and prior use, and some borrowers are exempt. The fee can generally be financed into the loan when permitted.
What does the 4% seller concession limit actually mean?+
The 4% limit applies to specific seller concessions defined by VA, such as paying the funding fee or certain debts and prepaid items. VA does not count normal eligible closing costs and reasonable discount points the same way when applying that 4% concession cap.
Can someone assume my VA loan?+
Potentially. A qualified purchaser, including a non-Veteran, may assume the remaining balance of a VA-guaranteed loan with approval. If the buyer cannot substitute VA entitlement, the original Veteran's entitlement may remain tied to the loan until it is paid off.
What is an IRRRL?+
An Interest Rate Reduction Refinance Loan is a VA refinance option for an existing VA loan. It is designed as a streamlined refinance and must satisfy applicable VA requirements, including seasoning and net tangible benefit rules.
Can surviving spouses qualify for a VA home loan?+
Certain surviving spouses may qualify for a Certificate of Eligibility under VA rules. Eligibility depends on the Veteran's service and death circumstances, remarriage history in some cases, and other VA requirements.
Official sources: VA Home Loans · VA Purchase Loan · Funding Fee & Closing Costs · Entitlement & Limits