Make the most of the VA home loan benefit you earned
VA-backed loans can offer eligible Veterans, service members and qualifying surviving spouses a flexible way to purchase or refinance a primary residence. We will help you understand the benefit, compare the available paths and evaluate the complete cost of the loan.
A Certificate of Eligibility is the starting point
A Certificate of Eligibility, commonly called a COE, shows a lender that your service history or duty status may qualify you for the VA home loan benefit. It does not guarantee loan approval.
The complete review also considers credit, income, debts, available entitlement, the property and your intended occupancy. We can help obtain or review the COE and explain what the remaining requirements mean for your situation.
Choose the VA loan path that fits your goal
Buying a home, improving an existing VA loan and accessing equity are separate paths. Start with the goal that matches your situation.
VA Purchase Loan
Buy a qualifying primary residence with eligible VA financing, potentially without a down payment.
Best for: Eligible Veterans and service members purchasing a primary home.
VA IRRRL
Refinance an existing VA loan to pursue a lower rate or move from an adjustable rate to a fixed rate.
Best for: Current VA borrowers who meet benefit, seasoning and recoupment requirements.
VA Cash-Out Refinance
Replace a VA or non-VA mortgage and potentially access eligible home equity through a new VA-backed loan.
Best for: Eligible homeowners prepared for full credit, income, occupancy and appraisal review.
What to expect when exploring a VA loan
Review your goal and eligibility
We start with what you want to accomplish and review your COE, entitlement, current loan and occupancy plans.
Complete the financial review
Income, assets, debts, credit and required documentation help determine which VA-backed option may be available.
Compare payments and costs
We review the rate, payment, funding fee, closing costs, cash needed and long-term impact before you choose a direction.
Move through approval and closing
The lender completes underwriting and, when required, the property is reviewed through the VA appraisal process before closing.
Understand the VA funding fee before you move forward
Many VA-backed loans include a one-time VA funding fee. The amount can depend on the loan type, down payment and whether you have used the benefit before. On an eligible loan, the fee may generally be paid at closing or financed into the loan.
Certain borrowers are exempt, including some Veterans receiving or eligible to receive compensation for a service-connected disability, certain surviving spouses receiving Dependency and Indemnity Compensation and other qualifying service members identified by VA.
VA loan questions worth answering early
Does a COE mean the VA loan is automatically approved?
No. A COE confirms that your service history or status may qualify you for the VA home loan benefit. You must still satisfy VA and lender requirements for credit, income, occupancy and the property.
Can an eligible borrower purchase with no down payment?
Potentially. A VA-backed purchase loan may allow no down payment when the sales price does not exceed the VA appraised value and the borrower, property, entitlement and lender requirements are met.
Do VA loans have monthly mortgage insurance?
VA-backed loans do not require monthly private mortgage insurance or FHA mortgage insurance premiums. A one-time VA funding fee may apply unless the borrower qualifies for an exemption.
Can the VA home loan benefit be used more than once?
It may be possible to use the benefit again. Available entitlement, previous VA loans, restoration eligibility, loan amount and the complete financial review determine what may be available.
Can a non-VA mortgage be refinanced into a VA loan?
An eligible homeowner may be able to refinance a non-VA mortgage into a VA-backed cash-out refinance loan. Full qualification, occupancy, appraisal, equity and lender requirements apply.
Ready to see how your VA benefit may work for you?
Call, text or begin a secure application with Jeff or Meredith. We will review the details and help you identify a sensible next step.
VA loan availability, eligibility, property requirements, rates, fees and terms depend on the complete application and current program and lender guidelines. Licensing and loan availability vary by state.