VA HOME PURCHASE LOANS
Use Your VA Home Loan Benefit to Buy With Confidence
You earned a valuable home loan benefit through your service. Veteran Mortgage Solutions helps Veterans, active-duty service members and eligible military families understand how to use that benefit when purchasing a home.
From confirming eligibility and preparing for pre-approval to understanding your payment, closing costs and next steps, our VA loan specialists provide clear guidance throughout the process.
Free Consultation | Personalized Guidance | Veteran-Focused Mortgage Specialists
VA HOME PURCHASE LOANS
Use Your VA Home Loan Benefit to Buy With Confidence
You earned a valuable home loan benefit through your service. Veteran Mortgage Solutions helps Veterans, active-duty service members and eligible military families understand how to use that benefit when purchasing a home.
From confirming eligibility and preparing for pre-approval to understanding your payment, closing costs and next steps, our VA loan specialists provide clear guidance throughout the process.
Free Consultation | Personalized Guidance | Veteran-Focused Mortgage Specialists
Potentially 0% Down
Qualified VA borrowers with sufficient entitlement may be able to purchase without a traditional down payment.
No Monthly PMI
VA-backed home loans generally do not require monthly private mortgage insurance.
Competitive Financing
VA-backed financing may offer competitive rates and terms for qualified borrowers.
Start-to-Finish Guidance
Clear help from eligibility and pre-approval through underwriting and closing.
A HOME LOAN BENEFIT YOU EARNED
What Is a VA Home Purchase Loan?
A VA home purchase loan is a mortgage made by a private lender and backed by the U.S. Department of Veterans Affairs. It is designed to help eligible Veterans, active-duty service members and certain surviving spouses purchase a home.
For qualified borrowers, one of its biggest advantages is the ability to finance a home without the traditional down payment required by many other mortgage programs. VA-backed loans also generally do not require monthly private mortgage insurance.
The loan still requires qualification. Your lender reviews factors such as income, credit, debts and the property being purchased. A valid Certificate of Eligibility is also required to establish eligibility for the VA home loan benefit.
VA PURCHASE LOAN ADVANTAGES
Benefits That Can Make Homeownership More Accessible
Every homebuyer’s situation is different. For eligible borrowers, a VA purchase loan can provide several important advantages when compared with many traditional mortgage options.
Potentially No Down Payment
Many qualified borrowers with sufficient VA entitlement can purchase a home without making a traditional down payment.
No Monthly Private Mortgage Insurance
VA-backed mortgages generally do not require the monthly PMI commonly associated with many low-down-payment conventional loans
Competitive Rates and Terms
VA-backed financing can provide competitive mortgage rates and terms. Final pricing depends on the lender and borrower qualifications.
No First-Time Buyer Requirement
Your VA benefit is not limited to your first home purchase. Eligible borrowers may be able to use the benefit again.
Flexible Property Possibilities
Eligible property types may include single-family homes, certain multi-unit properties, approved condominiums and other qualifying homes.
Closing Cost Options
Buyers and sellers may negotiate payment of certain closing costs, subject to VA program rules and limits.
WHO MAY QUALIFY?
Understanding VA Home Loan Eligibility
Your VA benefit can support several homeownership goals. We help you understand which options may apply to your situation.
You must also meet lender requirements for credit and income, and the property generally must be intended for your personal occupancy.
Not Sure Whether You Qualify?
You do not have to figure everything out on your own. Veteran Mortgage Solutions can help you understand the VA purchase process, the documentation involved and what your next step may be.
Potentially eligible borrowers can include
Veterans
Active-Duty Service Members
Qualifying National Guard and Reserve Members
Certain Surviving Spouses
A CLEARER PATH TO HOMEOWNERSHIP
Your VA Home Purchase Journey
Buying a home involves a lot of moving pieces. Our goal is to help you understand what happens next at every stage.
1
Confirm Your VA Eligibility
We review your situation and help you understand the eligibility and Certificate of Eligibility requirements.
2
Apply and Get Pre-Approved
Provide the financial information needed to review your income, assets, credit, debts and home financing goals.
3
Understand Your Buying Power
We walk through your estimated loan amount, payment, cash requirements and financing options before you start shopping seriously.
4
Find a Home and Make an Offer
Work with your real estate professional to find a property that fits your needs and budget.
5
Complete the VA Appraisal and Underwriting
A VA-approved appraiser provides an opinion of value and reviews the home against applicable VA minimum property requirements. The appraisal is not the same as a home inspection.
6
Review and Close
Once your loan receives final approval, review your closing documents, complete the closing process and get the keys to your new home.
KNOW BEFORE YOU BUY
What Costs Should You Expect With a VA Purchase Loan?
A VA loan may offer 0% down financing to qualified borrowers, but no down payment does not necessarily mean no money out of pocket.
Depending on your transaction, you may still have expenses such as an appraisal, closing costs, prepaid taxes and insurance, title-related charges, earnest money or a home inspection.
We Explain the Numbers Before You Make the Decision
Your loan specialist will help you understand your estimated payment, cash needed for closing and other loan costs before you move forward.
VA Funding Fee
Many VA borrowers pay a one-time VA funding fee. The amount can depend on factors including the type of loan, whether you have used your VA benefit before and the size of your down payment. Certain borrowers are exempt. The funding fee can generally be financed into a purchase loan.
Closing Costs
Closing costs vary based on your loan, property location and lender. Certain costs may be negotiated between buyer and seller. Your Loan Estimate will provide an itemized estimate before closing.
BUYING THE RIGHT PROPERTY
What Can You Buy With a VA Purchase Loan?
VA-backed purchase financing can be used for several types of eligible properties, subject to VA and lender requirements.
Single-Family Homes
Purchase an eligible home you plan to occupy as your primary residence.
Approved Condominiums
VA financing may be available for condominiums in VA-approved projects.
2-to-4 Unit Properties
Eligible borrowers may be able to purchase a property containing up to four units while meeting occupancy and other requirements.
Manufactured Homes
Certain manufactured-home transactions may qualify under VA program rules.
New Construction
Some new-construction transactions may be eligible, subject to VA and lender guidelines.
Purchase and Improvement
Certain transactions may allow eligible improvements to be included with the home purchase.
Occupancy Matters
A VA purchase loan is designed primarily to help eligible borrowers purchase a home for their own occupancy. It is not designed as a traditional investment-property financing program.
THE VA APPRAISAL
Understanding the VA Appraisal and Home Inspection
Once you are under contract, a VA-approved appraiser will evaluate the property. The appraisal provides an opinion of value and reviews whether the property meets applicable VA minimum property requirements.
A VA appraisal is not a substitute for a professional home inspection. A separate inspection can help identify potential defects and maintenance issues before you complete the purchase.
If the Home Appraises Below the Purchase Price
Depending on the circumstances, possible options can include requesting a reconsideration of value, renegotiating the purchase price or paying the difference between the appraised value and purchase price.
LET’S TALK ABOUT YOUR HOME PURCHASE
Find Out How Your VA Benefit May Work for You
Whether you are beginning your home search, preparing to make an offer or simply trying to understand what you may qualify for, start with a conversation.
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VA PURCHASE LOAN QUESTIONS
Common Questions About VA Home Purchase Loans
Do VA purchase loans really offer 0% down?
Qualified borrowers with sufficient entitlement may be able to purchase without a traditional down payment. Qualification, entitlement and property requirements still apply.
Who may be eligible for a VA home purchase loan?
Eligibility can extend to qualifying Veterans, active-duty service members, members of the National Guard and Reserve, and certain surviving spouses. Service requirements and other eligibility rules apply.
Do VA loans require PMI?
VA-backed home loans generally do not require monthly private mortgage insurance.
Does the VA require a minimum credit score?
Individual lenders establish their own underwriting and credit requirements, even when a borrower otherwise meets VA eligibility requirements.
Do I have to be a first-time homebuyer?
No. VA purchase financing can be used by eligible borrowers buying their first home or a later home, and eligible borrowers may be able to use their VA benefit more than once.
Can I buy an investment property with a VA loan?
A VA purchase loan is intended for a home you will personally occupy. Certain properties with up to four units may be eligible, subject to occupancy and other program requirements.
What is the VA funding fee?
The VA funding fee is a one-time charge associated with many VA-backed loans. Certain borrowers are exempt, and qualified borrowers can generally finance the funding fee into a purchase loan.
Is a VA appraisal the same as a home inspection?
No. The VA appraisal provides an opinion of value and reviews applicable minimum property requirements. A separate home inspection can help identify property defects and maintenance concerns.
Can the seller help with closing costs?
Yes. VA rules allow sellers to pay certain buyer closing costs and provide permitted concessions, subject to applicable program limits.
Can I use my VA home loan benefit again?
Potentially, yes. Eligible borrowers may be able to restore or reuse VA home loan entitlement depending on their circumstances.
Ready to Explore Your VA Loan Options?
Whether you are buying, refinancing or simply trying to understand what your VA benefit may allow you to do, you do not have to figure it out alone.
Talk with a Veteran Mortgage Solutions loan specialist and get clear answers about your options.
Serving Veterans and military families from coast to coast, where licensed.
