01
Confirm Your VA Loan Eligibility
Review your military service history and determine whether you meet VA home loan eligibility requirements. A Certificate of Eligibility (COE) helps establish your entitlement to VA-backed financing.
VA HOME PURCHASE LOANS
You Served. Your VA Home Loan Benefits Can Help You Move Forward.
VA-backed home loans offer specialized financing opportunities for eligible veterans, active-duty service members, and certain surviving spouses. Explore no-down-payment financing for many eligible borrowers, no monthly mortgage insurance, and mortgage options designed to support military homeownership.
$0 Down
No down payment required
for many eligible VA borrowers,
subject to loan and lender rules.
No PMI
VA-backed home loans do not
require monthly private
mortgage insurance.
VA home loans require applicable military eligibility, property qualification, and lender approval. VA funding fees and closing costs may apply. No-down-payment financing is not guaranteed. iLoan is not affiliated with or endorsed by the U.S. Department of Veterans Affairs.
Homeownership Benefits You’ve Earned.
Explore VA-backed mortgage financing for eligible veterans and military families.
Find VA Loans Programs in Your City
Select your state and search for your city to explore local mortgage information for this specific loan program.
Select a state to begin.
UNDERSTANDING YOUR VA HOME LOAN BENEFITS
How Does a VA Home Loan Work?
VA home loans are provided by participating mortgage lenders and backed by the U.S. Department of Veterans Affairs. Eligible borrowers may use these benefits to purchase a qualifying home with favorable financing features.
02
Get Pre-Approved & Find a Home
Work with an iLoan mortgage professional to review your income, credit, debts, and purchasing goals. Then search for a qualifying property that fits your budget and VA financing requirements.
03
Complete Your VA Mortgage
After your offer is accepted, the loan moves through documentation, VA appraisal, underwriting, and closing. Final approval depends on VA and lender requirements.
What Makes VA Financing Different?
VA-backed purchase loans may allow eligible borrowers to purchase a home without a down payment and without monthly mortgage insurance. A VA funding fee may apply unless the borrower qualifies for an exemption. Closing costs and lender qualification requirements still apply.
Who May Qualify for a VA Home Loan?
VA home loan eligibility is based on qualifying military service and other applicable VA criteria. The benefit may be available to several groups.
- Veterans with qualifying military service.
- Active-duty service members meeting applicable service requirements.
- Eligible National Guard and Reserve members.
- Certain eligible surviving spouses.
- Other qualifying beneficiaries recognized under VA guidelines.
Meeting VA service eligibility requirements does not automatically guarantee mortgage approval. Credit, income, property eligibility, occupancy, and lender requirements must also be satisfied.
What Is a VA Certificate of Eligibility?
A Certificate of Eligibility (COE) confirms that you meet the applicable service-related eligibility requirements for the VA home loan benefit.
A participating lender may be able to request your COE electronically. You may also request one directly through the Department of Veterans Affairs.
VA Eligibility
Establish your eligibility
based on military service
or other qualifying criteria.
Lender Approval
Review credit, income,
assets, property, and
mortgage qualification.
VA-backed home loans are subject to applicable VA program rules, entitlement, lender underwriting, and property requirements. iLoan is not affiliated with or endorsed by the U.S. Department of Veterans Affairs.
INTERACTIVE VA MORTGAGE CALCULATOR
Calculate Your Estimated VA Home Loan Payment
Explore how your home price, down payment, interest rate, property taxes, homeowners insurance, and VA funding fee affect your estimated monthly mortgage payment.
Customize Your VA Home Loan
Adjust the values to explore your purchase.
$50K$1.5M
0%50%
1%15%
15 years30 years
$0$30K
$0$12K
Your Estimated VA Mortgage
Illustrative purchase financing breakdown.
Home Purchase Price
$350,000
Down Payment
$0
Base VA Loan Amount
$350,000
VA Funding Fee Rate
2.15%
Estimated VA Funding Fee
$7,525
Total Estimated Loan Amount
$357,525
Estimated Total Monthly Payment
Calculating…
Principal, interest, taxes & insurance
Monthly Principal & Interest
Calculating…
Monthly Property Taxes
$350
Monthly Homeowners Insurance
$150
Monthly Mortgage Insurance
$0
Down Payment Funds
$0
Adjust the values to explore your VA scenario.
Explore My VA Home Loan Options →Educational estimate only, not a loan quote or approval. Assumes the VA funding fee is financed into the mortgage unless exempt. Standard purchase funding fee rates are modeled for eligible borrowers. Actual entitlement, funding fees, exemptions, interest rates and lender requirements must be verified. No-down-payment financing may not be available in every situation. Excludes closing costs, HOA dues, special assessments and other expenses. Down payment is not the total cash needed at closing. iLoan is not a government agency.
EXPLORE YOUR VA MORTGAGE BENEFITS
Why Choose a VA Home Loan?
VA-backed mortgages provide specialized financing opportunities for eligible veterans, service members, and certain surviving spouses. Explore the features that make VA home loans different from many traditional mortgages.
Potential $0 Down Payment
Many eligible VA borrowers may purchase a qualifying home without a down payment, subject to available entitlement, property value, and lender qualification requirements.
No Monthly Mortgage Insurance
VA-backed purchase loans do not require monthly private mortgage insurance, even when eligible borrowers purchase with no down payment. A VA funding fee may still apply.
Competitive Financing Opportunities
VA-backed mortgages may offer competitive interest rates and financing terms. Actual rates depend on market conditions, credit, loan structure, and lender requirements.
Potential Funding Fee Exemptions
Certain qualifying borrowers, including some veterans receiving VA disability compensation, may be exempt from the VA funding fee. Exemption status must be verified under VA rules.
Reusable VA Loan Benefits
Eligible borrowers may be able to use their VA home loan benefit more than once, depending on entitlement, previous VA loan usage, and applicable requirements.
Future VA Refinancing Options
Eligible homeowners with existing VA-backed mortgages may later explore VA IRRRL Streamline refinancing or other eligible refinance options based on their financial goals.
Could Your VA Benefits Help You Buy a Home?
Use our interactive VA mortgage calculator to explore estimated payments, funding fees, and down payment scenarios.
COMPARE YOUR HOME FINANCING OPTIONS
VA Loans vs. FHA & Conventional Loans
VA, FHA, and conventional mortgages offer different home financing features. Understanding down payments, mortgage insurance, qualification requirements, and closing costs can help you compare options.
VA HOME FINANCING
VA Home Loans
VA-backed mortgages provide specialized home financing for eligible veterans, service members, and certain surviving spouses.
- Potential 0% down payment for eligible borrowers.
- No monthly mortgage insurance requirement.
- VA funding fee may apply unless exempt.
- Military service eligibility and entitlement requirements apply.
- VA appraisal and lender underwriting requirements apply.
FHA HOME FINANCING
FHA Home Loans
FHA-insured mortgages may provide financing opportunities for homebuyers with different credit profiles and down payment circumstances.
- As little as 3.5% down for qualifying credit scores of 580 .
- FHA guidelines may allow scores of 500–579 with at least 10% down.
- Upfront and annual FHA mortgage insurance generally apply.
- No military service eligibility requirement.
- FHA loan limits and property requirements apply.
CONVENTIONAL FINANCING
Conventional Loans
Conventional mortgages offer different financing structures and underwriting standards for eligible homebuyers.
- Some programs allow as little as 3% down.
- Credit and income guidelines vary by program.
- Private mortgage insurance may apply with less than 20% down.
- Conventional PMI may be cancellable under applicable rules.
- Multiple property and loan structures may be available.
Is a VA Loan Always the Best Choice?
VA financing may offer significant advantages for eligible borrowers, particularly with no monthly mortgage insurance and potential zero-down-payment financing. However, the best program depends on your financial circumstances, interest rates, funding fees, loan terms, and total borrowing costs. Compare available options before making a decision.
VA HOMEOWNERS HAVE REFINANCE OPTIONS
Already Have a VA Loan? Explore VA Streamline Refinancing.
Your VA home loan benefits may continue to provide financing opportunities after you’ve purchased your home. Eligible homeowners with existing VA-backed mortgages may explore VA Streamline refinancing or other VA refinance options.
01
VA IRRRL Streamline Refinance
A VA Interest Rate Reduction Refinance Loan (IRRRL) may help eligible borrowers with an existing VA-backed mortgage explore a lower interest rate or move from an adjustable-rate mortgage to a fixed-rate loan. VA IRRRL refinancing generally does not provide cash-out proceeds.
02
VA Cash-Out Refinance Options
Eligible borrowers may explore VA cash-out refinancing to replace an existing mortgage and potentially access available home equity, subject to VA entitlement, property, underwriting, and lender requirements.
Could Your VA Mortgage Qualify for Better Terms?
If you already have a VA-backed mortgage, reviewing your current interest rate, repayment term, funding fee eligibility, and closing costs may help you understand whether refinancing could make financial sense. Savings and approval are not guaranteed.
VA refinancing is subject to applicable VA program requirements, lender underwriting, loan seasoning, net tangible benefit rules, and funding fee requirements. Refinancing may involve closing costs and changes to total interest paid. iLoan is not affiliated with or endorsed by the U.S. Department of Veterans Affairs.
VA MORTGAGE ELIGIBILITY
What Are the Requirements for a VA Home Loan?
VA-backed home loans have military service eligibility requirements along with lender credit, income, and property guidelines. Understanding these requirements can help you prepare to buy a home.
01
Military Service & VA Eligibility
Qualifying veterans, active-duty service members, National Guard and Reserve members, and certain surviving spouses may be eligible. A Certificate of Eligibility (COE) helps confirm entitlement.
02
VA Credit Score Requirements
VA does not establish a universal minimum credit score for its home loan guaranty program. Participating lenders evaluate credit history and may require their own minimum scores.
03
Income & Employment
Lenders review stable, qualifying income and employment or other acceptable income sources to evaluate repayment ability. Documentation depends on the borrower and applicable underwriting rules.
04
Debt-to-Income & Residual Income
VA underwriting considers monthly debt obligations relative to income and evaluates residual income available for living expenses. Higher debt ratios may require additional underwriting review.
05
Eligible Property & Occupancy
VA purchase financing generally requires a qualifying property intended as the borrower’s primary residence. VA appraisal, minimum property requirements, and applicable occupancy standards must be satisfied.
06
VA Entitlement & Loan Amount
VA entitlement affects the guaranty available for a loan. Borrowers with full entitlement generally have no VA-imposed county loan limit, although lender approval, property value, and affordability requirements still apply.
Think Your Credit Score Is Too Low for a VA Mortgage?
Don’t automatically rule out VA financing. The VA does not set a universal minimum credit score, but individual lenders may establish minimum scores and additional underwriting requirements. An iLoan mortgage professional can help you explore available VA loan options.
What Documents Do You Need for a VA Home Loan?
Getting organized before applying can help you prepare for the VA mortgage process. Your lender will determine the specific documents required.
- Certificate of Eligibility (COE), if already available.
- DD Form 214 or other applicable military service records.
- Recent pay stubs or qualifying income documentation.
- W-2 forms, tax returns, or self-employment records as applicable.
- Recent bank statements and asset information.
- Identification and information for credit review.
- Monthly debt and current housing expense information.
- Property and purchase contract information once available.
Ready to Explore Your VA Home Loan Benefits?
Whether you’re purchasing your first home, buying again, or uncertain about your credit, iLoan can help you review available VA financing options.
$0 Down
Potential no-down-payment
financing for eligible borrowers.
No PMI
VA-backed mortgages do not
require monthly mortgage insurance.
We’ll help you understand VA eligibility, credit requirements, loan entitlement, funding fees, and the steps toward pre-approval.
Start My VA Pre-Approval → Calculate My Estimated VA Payment →VA financing is subject to applicable military eligibility, entitlement, lender underwriting, and property requirements. Pre-approval does not guarantee final mortgage approval. iLoan is not affiliated with or endorsed by the U.S. Department of Veterans Affairs.
UNDERSTANDING VA MORTGAGE EXPENSES
VA Home Loan Funding Fees & Closing Costs Explained
VA-backed home loans may offer no-down-payment financing and no monthly mortgage insurance, but borrowers should still understand funding fees, closing expenses, and available exemptions.
VA Purchase Funding Fee
Many VA purchase borrowers pay a one-time funding fee. The amount generally depends on whether the borrower has used the VA loan benefit before and the down payment percentage. Eligible borrowers may finance the fee into their mortgage.
VA Funding Fee Exemptions
Certain eligible borrowers may qualify for a funding fee exemption, including some veterans receiving qualifying VA disability compensation. Other exemption categories may apply. The lender must verify exemption status.
VA Mortgage Closing Costs
Closing expenses may include allowable lender fees, appraisal charges, title services, recording fees, prepaid interest, property taxes, and homeowners insurance. VA rules limit certain charges to borrowers.
No Monthly Mortgage Insurance
VA-backed home loans do not require monthly mortgage insurance premiums. However, the VA funding fee, interest, closing costs, taxes, and homeowners insurance can affect total borrowing costs.
VA Purchase Loan Funding Fee Rates
Standard VA purchase funding fee percentages for eligible non-exempt borrowers.
| Down Payment | First Use | Subsequent Use |
|---|---|---|
| Less than 5% | 2.15% | 3.30% |
| 5% to less than 10% | 1.50% | 1.50% |
| 10% or more | 1.25% | 1.25% |
| Eligible exemption | 0% | 0% |
These standard purchase funding fee rates apply to qualifying VA loans closed on or after April 7, 2023. Actual funding fees and exemption eligibility must be verified under applicable VA requirements.
Can VA Homebuyers Get Help With Closing Costs?
Eligible VA borrowers may have opportunities to reduce certain out-of-pocket closing expenses through permitted seller payments, lender credits, or qualifying assistance programs.
01
Seller-Paid Closing Costs
VA rules allow sellers to pay certain eligible buyer closing costs. Ordinary allowable closing cost payments are treated differently from seller concessions under VA guidelines.
02
VA Seller Concessions
VA generally limits defined seller concessions to 4% of the property’s established reasonable value. The 4% limit does not apply to ordinary allowable closing cost payments that are excluded under VA rules.
03
Eligible Assistance Programs
Certain state, local, or other eligible homebuyer assistance programs may help qualified VA borrowers with allowable purchase expenses. Program funding, availability, and eligibility requirements vary.
Explore Your VA Home Purchase Costs
Review estimated VA mortgage payments and funding fees, or explore available homebuyer assistance opportunities.
VA seller contributions, lender credits, and homebuyer assistance are subject to applicable VA guidelines, lender requirements, transaction terms, and program availability. Financing and assistance are not guaranteed.
VA MORTGAGE QUESTIONS ANSWERED
VA Home Loan Frequently Asked Questions
Explore answers to common questions about VA mortgage eligibility, credit requirements, down payments, funding fees, and homeownership benefits.
Who qualifies for a VA home loan?
VA home loan eligibility may be available to qualifying veterans, active-duty service members, National Guard and Reserve members, and certain surviving spouses. Eligibility depends on applicable military service and VA requirements.
A Certificate of Eligibility helps confirm your entitlement to VA-backed financing. Mortgage approval also requires meeting lender and property requirements.
What credit score is required for a VA home loan?
The Department of Veterans Affairs does not establish a universal minimum credit score for its home loan guaranty program. Participating lenders review credit history and may set their own minimum credit score requirements.
Income, existing debts, residual income, and other underwriting factors also affect mortgage eligibility.
Can I buy a home with no down payment using a VA loan?
Many eligible VA borrowers may purchase a qualifying home without a down payment, subject to available entitlement, lender approval, property value, and applicable program requirements.
A VA funding fee and other closing costs may still apply. Use our VA Mortgage Calculator to explore estimated payments.
Are VA home loans only for first-time homebuyers?
No. VA home loan benefits are not limited to first-time buyers. Eligible borrowers may be able to use their VA loan benefit more than once, depending on entitlement, prior VA loan usage, and applicable requirements.
What is a VA Certificate of Eligibility?
A Certificate of Eligibility (COE) helps establish that you meet applicable service eligibility requirements for the VA home loan benefit.
Participating lenders may be able to request a COE electronically. Borrowers can also request one directly through the Department of Veterans Affairs.
Learn more through the official VA COE resource .
What is the VA home loan funding fee?
The VA funding fee is a one-time charge that applies to many VA-backed home loans. For purchase loans, the rate generally depends on the down payment percentage and whether the borrower has previously used the VA home loan benefit.
Eligible borrowers may finance the fee into their mortgage or qualify for an exemption under VA rules.
Are veterans receiving VA disability compensation exempt from the funding fee?
Certain veterans receiving qualifying VA disability compensation are exempt from the VA funding fee. Additional exemption categories may apply, including some borrowers eligible for compensation but receiving retirement or active-duty pay.
Your lender must verify exemption status under applicable VA guidelines.
Can I use my VA home loan benefit more than once?
Yes. Eligible borrowers may be able to use VA home loan benefits multiple times. Available entitlement, previous VA loans, entitlement restoration, and other program requirements determine future eligibility.
Can I purchase a duplex or multi-unit home with a VA loan?
VA financing may be available for qualifying residential properties containing up to four units, subject to applicable property and lender requirements.
The borrower generally must intend to occupy one of the units as a primary residence and satisfy VA occupancy guidelines.
Can I refinance my VA home loan later?
Eligible homeowners with existing VA-backed mortgages may explore VA Interest Rate Reduction Refinance Loans (IRRRLs), commonly called VA Streamline refinancing.
Depending on their goals, borrowers may also explore eligible cash-out refinancing. Visit our VA IRRRL Refinance guide to learn more.
Still Have Questions About VA Home Loans?
Connect with iLoan to review VA eligibility, funding fees, qualification requirements, and available mortgage options.
PERSONALIZED VA HOME LOAN GUIDANCE
Explore Your VA Home Loan Options With iLoan
Whether you’re buying your first home, purchasing again, or exploring your military homeownership benefits, connect with iLoan to review VA mortgage options and understand your next steps.
Let’s Explore Your Path to Homeownership.
VA-backed mortgages may provide valuable financing opportunities for eligible veterans, active-duty service members, and certain surviving spouses. Our mortgage professionals can help you understand available VA financing options and qualification requirements.
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Review VA Eligibility & Entitlement
Explore Certificate of Eligibility requirements, VA entitlement, and applicable military service qualifications.
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Explore No-Down-Payment Financing
Review potential zero-down-payment VA purchase options and applicable lender requirements.
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Understand Funding Fees & Exemptions
Learn how VA funding fees, possible exemptions, interest rates, and closing costs may affect your home purchase.
Prefer to speak with us directly?
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Start My VA Pre-Approval →
Request Your VA Mortgage Consultation
Complete the form below and an iLoan mortgage professional can help you explore available VA home financing options.
iLoan LLC · NMLS #1947845.
VA-backed mortgages are subject
to applicable military eligibility,
entitlement, lender underwriting,
and property requirements.
iLoan is not affiliated with
or endorsed by the U.S.
Department of Veterans Affairs.
Submitting an inquiry does not
constitute a loan application
or guarantee financing.
