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VA Home Loans
You served us, now let us guide you on buying or refinancing a home. VA loans are guaranteed by the United States Department of Veterans Affairs, and they offer unique homeownership perks for active-duty service members, veterans, and eligible surviving spouses.
You can be Pre Approved by the end of the day!
No down payment required
Low fixed rates
Flexible underwriting
No monthy mortgage insurance
Popular VA Loan Topics
Mortgage Rates for VA Loans
Your mortgage rate is an important factor in your overall home payment and family budget. Our company is built to offer lower mortgage rates which will help make your home more affordable.
On average, our mortgage rates are .326% lower than the national average. This equates to $23,836 in life of loan interest savings. See details on rate savings calculation here.
Program Highlights
580 minimum credit score
Fixed Rates
No monthly mortgage insurance
Primary Residence only
No down payment required
Frequently Asked Questions
Active duty service members, veterans and eligible surviving spouses could all be eligible for a VA loan. Lenders must obtain a certificate of eligibility (COE) from the VA to prove that you qualify for a VA loan.
Who is eligible for a VA loan?
VA loans provide VA eligible borrowers the opportunity to purchase a home without a down payment. VA rates are very competitive and there is no monthly mortgage insurance, making your monthly payments low and affordable.
What are the main benefits of a VA loan?
VA interest rates are very competitive with other loan products, and in most cases, are lower than conventional rates.
How do VA interest rates compare to other loan options?
The VA Funding Fee is the insurance premium that is paid to VA to insure the loan against default. The amount of the Funding Fee varies based on whether it's the veteran's first time to use their VA benefit and if a down payment is being made. Disabled veterans may be exempt from paying the Funding Fee.
What is the VA Funding Fee, and do I have to pay it?
VA Home Loans
Overview
VA mortgages are home loans that are backed or insured by the Department of Veterans Affairs (VA). VA loans adhere to the guidelines set forth by the Department of Veterans Affairs. After a VA loan closes, most lenders will sell the government-insured loan in the secondary market to a government agency called Ginnie Mae. Ginnie Mae will then package a group of VA loans and sell them as mortgage-backed securities (MBS).
According to data from the U.S. Census Bureau, VA loans were used to purchase about 4% of the homes in 2022. VA loans are the go-to product for most veterans due to the 100% financing that makes homeownership a reality for those who have served our country.
What can I use a VA home loan for?
VA loans can be used to purchase or refinance a primary residence. VA loans cannot be used to purchase investment properties or second homes. Those types of properties typically need conventional loans.
What is the minimum credit score I need for a VA home loan?
You will usually need a credit score of 620 or higher for a VA loan. However, lower credit scores down to 580 may be accepted if compensating factors are present.
How much can I borrow with a VA home loan?
VA loans must adhere to specific loan limits set by the Federal Housing Finance Agency (FHFA). These limits are revised annually and vary based on the location of the property. Starting in 2025, you can borrow up to $806,500. In high-cost areas, the limits may be higher, allowing borrowers in those regions to secure larger loans while still benefiting from the advantages of a 100% VA loan.
What is the VA Funding Fee?
The VA funding fee is the VA's version of mortgage insurance. It's a one-time fee paid at closing that can be added to your loan amount. The amount of the fee varies based on your loan amount, down payment, and whether it's your first time or a subsequent use of a VA loan. The fee ranges from 0.5% to 3.3% of the total loan amount. If you receive VA disability compensation, then you are exempt from the VA funding fee. You can lower the amount of the guarantee fee by making a down payment.
What is the minimum down payment needed for a VA home loan?
VA loans allow for 100% financing for veterans with full entitlement. If you only have partial entitlement, you may need to have a down payment saved. If you do have a down payment saved, you can certainly use it. You do not have to participate in the 100% financing. Putting equity into your home on the front-end with a VA loan does offer some benefits such as a lower VA funding fee and lower monthly mortgage payments.
What is the max Debt-to-Income Ratio (DTI) for a VA home loan?
Your debt-to-income ratio is the percentage of your gross income that goes towards your monthly debts, including a proposed new mortgage payment. VA loans typically require that your monthly debts not exceed 50% of your gross qualifying income. However, a DTI ratio of up to 60% will sometimes be accepted if compensating factors are present.
What documentation do I need to provide for a VA home loan?
VA loans will require that you fully document your income and assets. Standard documentation requirements include recent paystubs, last two years of W2s, and the last two years of tax returns, if self-employed. You will need to document all liquid assets used for any down payment and closing costs. You will also need to provide a Certificate of Eligibility to ensure that you are eligible for a VA loan.
What types of properties can I finance with a VA home loan?
VA loans can be used to finance single family residences, multi-family properties up to 4 units (if you plan to occupy one of the units as a primary residence), townhomes, VA condominiums and manufactured homes that meet the requirements.
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