Loan programs
Using your VA home loan benefit: a plain-English guide
Eligible veterans and service members can often buy with no down payment and no monthly mortgage insurance. Here’s how the VA benefit works, step by step.
Marcus Bell
NMLS #XXXXXX
The VA home loan is one of the most valuable benefits of military service, and many eligible buyers don’t know how flexible it is.
Step 1: Confirm your eligibility
Your Certificate of Eligibility (COE) shows the VA that you qualify and lists your funding fee status. Your loan officer can usually request it online in minutes.
Step 2: Understand the costs
No down payment is required for borrowers with full entitlement
There is no monthly mortgage insurance
A one-time funding fee applies unless you are exempt
The VA limits some closing costs charged to veterans
Step 3: Shop with confidence
VA appraisals check that the home meets minimum property requirements. A good agent who knows VA loans can help your offer stand out.
You can use your VA benefit more than once, and in some cases you can have more than one VA loan at a time.
General information
This guide is general education, not financial, legal or tax advice. Talk with a licensed loan officer about your situation.