What is the VA funding fee?

The VA funding fee is a one-time fee charged on many VA loans. The amount varies based on factors such as down payment, loan type, and whether you've used VA loan benefits before. Some borrowers may qualify for an exemption.

What credit score do I need for a VA loan?

The Department of Veterans Affairs does not set a minimum credit score requirement, but individual lenders may establish their own guidelines. Qualification depends on credit history, income, assets, debt obligations, and overall financial profile.

Can I use a VA loan more than once?

Yes. Many eligible borrowers can use their VA loan benefit multiple times, provided they meet applicable entitlement and qualification requirements.

What types of properties can I purchase with a VA loan?

VA loans are generally intended for owner-occupied primary residences and may be used to purchase eligible single-family homes, approved condominiums, and certain multifamily properties.

Can I have more than one VA loan at a time?

In some situations, yes. Borrowers with remaining VA entitlement may be eligible to maintain one VA loan while obtaining another, subject to lender approval and program guidelines.

Are there income limits for VA loans?

VA loans do not have traditional income limits. However, borrowers must demonstrate sufficient income and residual income to qualify for the proposed mortgage payment.

Can a VA loan be used to refinance an existing mortgage?

Yes. Eligible borrowers may use VA refinance programs to refinance an existing mortgage, subject to qualification requirements and program guidelines.

Are VA loans assumable?

Many VA loans are assumable, meaning a qualified buyer may be able to take over the existing mortgage terms, subject to lender and VA approval requirements.

VA Loans

Built for Veterans and Military Families.

One of the most powerful home financing benefits available to eligible veterans, active-duty service members, and surviving spouses.

✓ No down payment required for many qualified borrowers

✓ No monthly mortgage insurance

✓ Competitive interest rates

Explore My Options ⟶ Complete a secure application to receive personalized loan options.

About Requirements Common Questions Apply Now

What Is a VA Loan?

A VA loan is a mortgage program backed by the U.S. Department of Veterans Affairs that helps eligible veterans, active-duty service members, and certain surviving spouses become homeowners.

VA loans offer unique benefits that can make homeownership more affordable, including no down payment options for many qualified borrowers and no monthly mortgage insurance requirements.

Many eligible borrowers choose VA financing because it can help them:

Reduce upfront cash needed to buy a home
Avoid monthly mortgage insurance costs
Access financing designed for military families
Take advantage of benefits earned through military service

Couple reviewing home loan documents outside their home

Not Sure If You're Eligible?

We'll help you review your eligibility and compare VA, FHA, and conventional financing options based on your goals.

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VA Loan Requirements

VA loans are available to eligible veterans, active-duty service members, certain National Guard and Reserve members, and some surviving spouses. Borrowers must also meet lender and property requirements.

In addition to military eligibility, lenders typically evaluate factors such as credit, income, debt, occupancy, and the property being purchased.

Is a VA Loan Right for You?

You may be a strong VA candidate if:

You meet VA military service requirements
You're purchasing a primary residence
You can document your income and employment
You'd like to buy with little or no down payment
You'd like to avoid monthly mortgage insurance

What Lenders Review

Lenders evaluate multiple factors when determining whether you qualify for a VA loan.

$Certificate of Eligibility (COE)

Confirms your eligibility for VA home loan benefits.

Why it mattersA valid COE is required before using VA financing.

↗Credit History

Lenders review your overall credit profile when determining eligibility.

Why it mattersCredit history helps lenders evaluate risk and loan qualification.

▣Income Verification

Borrowers must document sufficient income to support the proposed mortgage payment.

Why it mattersStable income shows lenders you can afford your monthly payment.

◔Debt-to-Income Ratio

Existing monthly debts are evaluated alongside income to determine affordability.

Why it mattersHelps lenders understand how manageable your monthly payments are.

⌂Occupancy

VA loans are intended for owner-occupied primary residences.

Why it mattersVA financing is designed to help veterans become homeowners, not investors.

✓Property Standards

The home must meet VA safety, livability, and appraisal requirements.

Why it mattersHelps ensure the property is safe, structurally sound, and suitable for occupancy.

FAQ

VA Loan FAQs

Answers to common questions borrowers have about VA loans.

The VA funding fee is a one-time cost paid on many VA loans. It helps support the VA loan program and may vary based on factors like your loan type, down payment, and whether you’ve used a VA loan before. Some borrowers may be exempt from the funding fee.

The VA does not set one universal minimum credit score, but lenders typically review your credit history, income, debts, and overall loan profile when determining eligibility.

Yes. Eligible borrowers may be able to use a VA loan more than once, as long as they have remaining or restored VA entitlement and meet lender requirements.

VA loans are commonly used for single-family homes, townhomes, approved condos, and certain multi-unit properties. The home must generally be used as a primary residence and meet VA property standards.

In some cases, yes. Borrowers may be able to have more than one VA loan at the same time if they have enough remaining entitlement and meet lender requirements.

VA loans do not have standard income limits, but borrowers still need to show enough stable income to afford the mortgage payment and other monthly obligations.

Yes. Eligible borrowers may be able to refinance using VA options such as a VA Interest Rate Reduction Refinance Loan or a VA cash-out refinance, depending on their current loan and goals.

VA loans may be assumable, which means a qualified buyer may be able to take over the existing loan terms. The buyer must meet lender and VA requirements.