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For veterans and service members

VA home loans with $0 down and no monthly mortgage insurance

You earned this benefit. Eligible borrowers can buy without a down payment and without monthly mortgage insurance.

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Who qualifies for a VA loan?

Veterans, active-duty service members, National Guard and Reserve members, and some surviving spouses can qualify. You prove eligibility with a Certificate of Eligibility (COE), which we can usually pull online in minutes.

  • 90 consecutive days of active service during wartime, or 181 days during peacetime
  • 6 years in the National Guard or Reserve (or 90 days of active-duty service under Title 10 or 32)
  • Surviving spouses of service members who died in service or from a service-connected disability

What is the VA funding fee?

The VA funding fee is a one-time charge that keeps the program running. It can be rolled into your loan, and it is waived entirely if you receive VA disability compensation.

Down paymentFirst useAfter first use
Less than 5%2.15%3.3%
5% to 9.99%1.5%1.5%
10% or more1.25%1.25%

Purchase-loan rates. Purple Heart recipients on active duty and eligible surviving spouses are also exempt.

Is there a VA loan limit?

No, not if you have full entitlement. Since 2020, borrowers with full entitlement can buy a home of any price with no down payment, as long as they qualify for the payment.

If part of your entitlement is tied up in another VA loan, county loan limits still apply to how much you can borrow with $0 down. Brian will calculate your remaining entitlement for you.

Can I use my VA loan more than once?

Yes. VA benefits can be used again and again. You can restore your entitlement when you sell, and in some cases you can have two VA loans at the same time, such as after a PCS move.

That flexibility matters for families stationed at NAS Pensacola, NAS Whiting Field, Coast Guard Sector Mobile, Maxwell AFB, or Redstone Arsenal who want to keep their first home as a rental.

Calculator

Estimate your VA loan payment

Sample rate for illustration, not a quote
Coastal homes often run higher
Estimated VA payment
$0
Principal and interestTaxesInsuranceMortgage insuranceHOA
  • Principal and interest
  • Property taxes
  • Homeowners insurance
  • Mortgage insurance
  • HOA dues
  • Total loan amount
  • Down payment
Get my real numbers

Estimates only. Your actual rate, APR, and payment depend on credit, loan amount, property, and market conditions. PMI is estimated at 0.6% per year when a conventional down payment is under 20%.

Is this a fit?

A VA loan fits you if

  • You served or are serving and can get a Certificate of Eligibility
  • You plan to live in the home as your primary residence
  • You want $0 down or to keep your savings for moving and repairs
  • You want to avoid monthly mortgage insurance

Be ready

Documents to gather

  • DD-214 if you are a veteran, or a statement of service if active duty
  • Two most recent pay stubs or LES
  • W-2s from the last two years
  • VA disability award letter, if you receive compensation
  • Two months of bank statements

Questions people ask

VA Loans FAQ

What credit score do I need for a VA loan?

The VA does not set a minimum credit score. Most lenders look for about 580 to 620, and the VA's residual income guideline helps make sure the payment fits your budget.

Can the seller pay my closing costs on a VA loan?

Yes. Sellers can pay all of your standard closing costs plus up to 4% of the price in concessions, such as prepaid taxes, paying off debts, or the funding fee.

What is a VA IRRRL?

An Interest Rate Reduction Refinance Loan is a streamlined VA refinance that can lower your rate with little paperwork and often no appraisal. It is only for refinancing an existing VA loan.

Can I buy a condo with a VA loan?

Yes, if the condo project is VA approved. Brian checks the VA approval list before you write an offer, which is especially important for Gulf Coast condos.

Does a VA appraisal require repairs?

VA appraisers check that the home is safe, sound, and sanitary. Items such as a damaged roof, peeling paint on older homes, or missing handrails may need to be fixed before closing.

Thank you for your service. Let's put your benefit to work.

We will pull your Certificate of Eligibility and show you your $0-down options.

Get preapproved(251) 616-0005

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Other ways to finance a home

Standard

Conventional mortgage

Fixed-rate loans with as little as 3% down for first-time buyers.

Learn more →Rural and suburban

USDA loan

$0 down in eligible areas for moderate-income households.

Learn more →Rental property

Investor and DSCR loan

Qualify with the property's rent instead of your tax returns.

Learn more →Home equity

HELOC

Borrow against your equity and keep your current mortgage rate.

Learn more →
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