VA Military Loans. Earned Benefits. Zero Down.
Explore VA home loan benefits for eligible veterans, active-duty service members, and qualified surviving spouses, including zero-down financing with no monthly mortgage insurance.
VA Military Loans. Earned Benefits. Zero Down.
Explore VA home loan benefits for eligible veterans, active-duty service members, and qualified surviving spouses, including zero-down financing with no monthly mortgage insurance.
Understanding VA Home Loans
A VA loan is a mortgage program backed by the U.S. Department of Veterans Affairs, designed to help eligible veterans, active-duty service members, and qualified surviving spouses achieve homeownership.
VA loans offer significant benefits, including the possibility of zero down payment financing and no monthly private mortgage insurance requirement, making them one of the most valuable benefits earned through military service.
At Affordable Home Loans, we're honored to help those who've served access their VA benefits, guiding you through the VA loan process and comparing options to find the right financing for your home.
Why Consider a VA Loan?
Zero Down Payment
Eligible borrowers may qualify for VA financing with no down payment required.
No Monthly PMI
VA loans do not require monthly private mortgage insurance, which can lower your monthly payment.
Competitive Rates
VA loans often offer competitive interest rates for eligible borrowers.
Refinancing Options
VA offers the IRRRL (Interest Rate Reduction Refinance Loan) for streamlined refinancing of existing VA loans.
Primary Residence
VA purchase financing is available for primary residences, helping veterans establish a home base.
Seller Concessions
VA allows eligible seller concessions that may help reduce upfront costs, subject to program limits.
What Does It Take to Qualify?
VA Eligibility
Borrowers must have valid VA loan entitlement, based on service requirements for veterans, active-duty service members, and qualified surviving spouses. A Certificate of Eligibility (COE) is required.
Down Payment
VA loans may allow zero down payment financing for eligible borrowers. A down payment may be required in certain situations, such as when the loan amount exceeds the county loan limit or entitlement is reduced.
Credit
Lenders evaluate credit history and score. VA does not set a minimum credit score, but lenders typically have their own requirements, often around 620 or higher.
Income & Employment
Borrowers must demonstrate stable qualifying income and employment sufficient to repay the mortgage under VA underwriting guidelines.
Debt-to-Income Ratio
Your monthly debt obligations are evaluated against qualifying income. VA uses residual income guidelines in addition to debt-to-income ratios.
Occupancy
VA purchase financing requires the borrower to occupy the property as a primary residence, generally within a reasonable time after closing.
Property Eligibility
The property must meet VA appraisal and minimum property requirements for safety, soundness, and sanitation.
Understanding the VA Funding Fee
VA Funding Fee
Most VA loans require a one-time funding fee, which is a percentage of the loan amount. The fee helps sustain the VA loan program and varies based on down payment, military category, and prior use of the benefit.
Funding Fee Exemptions
Eligible borrowers receiving VA compensation for a service-connected disability, and certain surviving spouses, are generally exempt from the VA funding fee.
The VA funding fee can generally be financed into the loan amount. Unlike conventional PMI or FHA mortgage insurance, VA loans do not require monthly mortgage insurance, which can lower your ongoing housing payment.
VA or Conventional? Let's Compare.
| Feature | VA | Conventional |
|---|---|---|
| Minimum Down Payment | Zero down for eligible borrowers | As low as 3% for qualified buyers |
| Monthly Mortgage Insurance | No monthly PMI | PMI required under 20% down |
| Upfront Cost | VA funding fee (may be financed) | No upfront fee; PMI monthly |
| Eligibility | Veterans, service members, eligible spouses | Available to most borrowers |
| Primary Residence | Required for purchase financing | Primary, second home, or investment |
| Credit Qualification | Lender-set; often 620+ | Generally 620+ |
| Long-Term Costs | No monthly MI can lower costs | PMI removable at sufficient equity |
Minimum Down Payment
Monthly Mortgage Insurance
Upfront Cost
Eligibility
Primary Residence
Credit Qualification
Long-Term Costs
The right mortgage isn't always the one with the lowest advertised rate. It's the one that makes the most sense for your financial situation and long-term goals.
What Could Zero Down Look Like?
This is an illustration only. Closing costs, prepaid expenses, the VA funding fee (unless exempt), and other transaction costs are additional unless covered by permitted seller concessions, credits, or financing arrangements.
Your Path to a VA Home Loan
Let's Connect
Discuss goals, finances, and available financing options.
Apply & Review
Complete the application and provide required documentation.
Get Pre-Approved
Review available financing and obtain a pre-approval when eligible.
Find Your Home
Work with your Realtor and move forward with the purchase contract.
Underwriting & Closing
Complete appraisal, underwriting, remaining conditions, and closing.
VA Loan Questions, Answered.
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs, designed to help eligible veterans, active-duty service members, and qualified surviving spouses achieve homeownership with benefits like zero-down financing.
Eligibility is based on service requirements for veterans, active-duty service members, and qualified surviving spouses. A Certificate of Eligibility (COE) from the VA is required to confirm your entitlement.
Eligible borrowers may qualify for zero down payment financing. A down payment may be required in certain situations, such as when the loan amount exceeds the county loan limit or entitlement is reduced.
VA loans do not require monthly private mortgage insurance. Most VA loans require a one-time funding fee, which can generally be financed into the loan. Certain disabled veterans and surviving spouses are exempt from the funding fee.
VA does not set a minimum credit score, but lenders typically have their own requirements, often around 620 or higher. Your full credit profile is evaluated.
Yes. VA loan entitlement can be restored and reused, allowing eligible borrowers to use the benefit multiple times, subject to entitlement and eligibility requirements.
Yes. VA offers the Interest Rate Reduction Refinance Loan (IRRRL), a streamlined refinance option for existing VA loans. Cash-out refinancing may also be available subject to eligibility.
No. VA purchase financing requires the borrower to occupy the property as a primary residence. VA loans are not available for second homes or investment properties.
More Options. More Guidance. A Better Mortgage Experience.
- Access to multiple wholesale lending partners.
- Personalized comparisons across available programs.
- Transparent explanations of interest rates, fees, and closing costs.
- Complimentary mortgage consultations.
- Initial soft-credit review when available and appropriate.
- No AHL Section A origination, processing, underwriting, application, or administrative charges on eligible regular loan programs, subject to actual loan terms and applicable exceptions.
- Personal guidance from consultation through closing.
Your Service. Earned This Benefit.
We're honored to help you access your VA home loan benefits. Let's find the right financing for your next home.