For those who have served.
A VA loan is a home loan benefit for eligible veterans, service members and some surviving spouses. It is backed by the U.S. Department of Veterans Affairs and made by private lenders.
Who it is for
- Veterans who meet the service requirements
- Active-duty service members
- National Guard and Reserve members who meet the service requirements
- Some surviving spouses
What you will need
- Photo ID for each borrower
- Recent pay stubs and the last two years of W-2s, or tax returns if you are self-employed
- Recent statements for the accounts holding your down payment and reserves
- Permission to check your credit
- A Certificate of Eligibility from the VA. We can usually request it for you
- Your DD-214 or a statement of service, depending on your status
Good to know
- Eligible borrowers may be able to buy without a down payment.
- VA loans have no monthly mortgage insurance. Most borrowers pay a one-time VA funding fee, and some are exempt, including many veterans who receive VA disability compensation.
- The home must be your main residence and must pass a VA appraisal.
- You can use the benefit more than once.
Common questions
How do I know if I am eligible?
Eligibility depends on when and how long you served. The VA confirms it with a Certificate of Eligibility, which a lender can usually request on your behalf.
What is the VA funding fee?
It is a one-time fee paid to the VA that helps keep the program running. It can usually be financed into the loan. Some borrowers are exempt.
Can I use a VA loan a second time?
Yes. The benefit can be reused, and in some cases you can have more than one VA loan at a time.
Can a VA loan be used to refinance?
Yes. There is a streamlined option for refinancing an existing VA loan and a cash-out option as well.
