VA Loan
What Is a VA Loan?
A VA loan is a government-backed mortgage that allows eligible borrowers to purchase or refinance a home with extremely favorable terms. Because the VA guarantees part of the loan, lenders can offer financing with no down payment, no PMI, and more flexible credit and income guidelines.
Key Benefits
- No Down Payment Required Eligible buyers can finance 100% of the purchase price with no minimum down payment.
​
- No Monthly Mortgage Insurance (PMI/MIP)Unlike FHA or conventional loans, VA loans do not require monthly mortgage insurance — saving hundreds per month.
​
- Lower Interest Rates VA loans consistently offer some of the lowest rates in the industry.
​
- Flexible Credit Requirements Easier approval for borrowers with past credit challenges compared to conventional loans.
​
- Lower Closing Costs VA restricts the fees that lenders can charge, keeping costs low.
​
- Assumable Loan A qualified buyer can assume your VA loan — a major advantage if rates increase.
​​​Why Borrowers Choose VA Loans
​​
- No large down payment needed
- No PMI saving thousands per yea
- More lenient approval guidelines
- Designed exclusively for those who served Perfect for both first-time buyers and experienced homeowners.
VA loans require a funding fee (can be financed into the loan) — waived for eligible disabled veterans. Must occupy the home as a primary residence. Must meet VA minimum property standards (MPRs).
Certificate of Eligibility (COE)
​​
A COE is required — and we can help you obtain it quickly through the VA system.
​
Property Requirements Must be used as a primary residence Eligible properties include single-family homes, condos, townhomes Multi-unit properties allowed (up to 4 units if one unit is owner-occupied)
Types of VA Loans
​​
VA Purchase Loan Buy a home with zero down, no PMI, and favorable rates.
​
VA Cash-Out Refinance Tap into your home’s equity to: Pay off debt Fund home improvements Cover major expenses Up to 100% LTV allowed in many cases.
​​
VA IRRRL (Streamline Refinance) A simplified refinance for existing VA borrowers: No appraisal required No income documentation Reduced paperwork Lower rates and monthly payments One of the easiest refinance programs available.
