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VA loans

VA loans provide a home-financing benefit for eligible military borrowers

Eligible veterans, active-duty service members, and certain surviving spouses may use a VA-backed loan for a primary residence. The program can offer no-down-payment financing and no monthly private mortgage insurance, subject to entitlement, qualification, property, and lender requirements.

Prepare VA loan questionsReview VA program information
Answer firstA VA loan is a benefit, not an automatic approval. Eligibility evidence, available entitlement, occupancy, income, credit, debts, property review, and underwriting still matter.

Topics to review

Eligibility and entitlement

A Certificate of Eligibility helps document military eligibility and entitlement. A loan professional can explain how it fits the review.

Funding fee

A VA funding fee may apply unless an exemption is established. Ask how it can affect the loan amount or cash due.

Occupancy and property

VA purchase loans generally concern a primary residence and use VA appraisal/property requirements.

Prepare for a VA conversation

  1. Gather service and Certificate of Eligibility questions.
  2. Define purchase timing, occupancy, property type, budget, and cash plan.
  3. Compare funding fee, closing costs, seller concessions, monthly payment, and other eligible options.

VA questions

Does VA financing always require zero dollars at closing?

No. A no-down-payment structure may be available, but closing costs, prepaid items, funding fee treatment, appraisal issues, and transaction details can still affect cash due.

Is there monthly PMI?

VA loans do not use conventional private mortgage insurance, but a funding fee may apply and other housing costs remain.

Can surviving spouses qualify?

Certain surviving spouses may be eligible. Official VA eligibility rules and documentation determine qualification.