A benefit earned through service
VA loans are guaranteed by the U.S. Department of Veterans Affairs and are available to eligible veterans, active-duty service members, members of the National Guard and Reserves, and qualifying surviving spouses. The guarantee lets lenders offer terms built around those who have served.
What makes a VA loan different
- No monthly mortgage insurance
- Flexible credit and qualifying standards
- Limits on certain closing costs the borrower can be charged
- A benefit you can use more than once
Eligibility and the Certificate of Eligibility
Eligibility depends on your length and type of service. It is confirmed with a Certificate of Eligibility (COE), which we can usually request for you electronically. Surviving spouses and members of the Guard and Reserves have their own eligibility paths.
The funding fee
Most VA loans carry a one-time funding fee, which can usually be financed into the loan. Veterans receiving VA disability compensation are generally exempt. We will confirm whether it applies to you.
Refinancing with VA
If you already have a VA loan, an Interest Rate Reduction Refinance Loan (IRRRL) can lower your rate with streamlined paperwork. A VA cash-out refinance can also be used to reach your equity, or to refinance a non-VA loan into a VA loan.
Every file is different. Guidelines, pricing and eligibility vary by lender and are subject to credit approval and property eligibility — we’ll walk you through exactly what applies to yours.