VA home loan guides
Start with the basics or jump to your situation.
Basics
- How the VA Home Loan WorksA VA loan is a mortgage from a private lender that the Department of Veterans Affairs partly guarantees. That guarantee lets lenders offer no down payment, no monthly mortgage insurance and limits on closing costs. Here is how the pieces fit together.
- VA Entitlement Explained: Full, Partial, Restoration and Second-TierEntitlement is the amount VA will guarantee on your loan. Whether you have full or partial entitlement decides whether loan limits apply and whether you need a down payment. Learn how basic and bonus entitlement work and how to get used entitlement back.
- VA Loan Limits for 2026 and VA Jumbo LoansThere is no VA loan limit if you have full entitlement. If you have partial entitlement, VA uses the 2026 FHFA county limits, which start at $832,750. This guide also explains VA jumbo loans and when you need a down payment.
- VA Loan vs. FHA vs. ConventionalFor most eligible borrowers, a VA loan costs less than FHA or conventional because it has no down payment requirement and no monthly mortgage insurance. Conventional loans can win if you have a large down payment and strong credit. Here is how they compare.
Eligibility
- VA Loan Eligibility and Service RequirementsWho qualifies for a VA home loan depends on when you served, how long, and how you left the service. This guide covers wartime and peacetime periods, active duty, the Guard and Reserve, and surviving spouses.
- How to Get Your VA Certificate of Eligibility (COE)Your COE proves to a lender that you can use the VA loan benefit and shows how much entitlement you have. You can get it online, through your lender, or by mail. Here is what to bring for each type of service.
- Using Your VA Loan More Than Once and Having Two VA LoansThe VA benefit is not a one-time deal. You can use it again after selling, restore it once while keeping a home, or use remaining entitlement to buy a second primary home while the first VA loan is still open. Later use has a higher funding fee unless you put money down or are exempt.
Buying
- VA Loan Credit Score, DTI and Residual IncomeVA does not set a minimum credit score, but lenders do. VA uses two income tests: a 41% debt-to-income guideline and a residual income test based on family size and region. Strong residual income can get a loan approved even with a higher DTI.
- VA Appraisal, Notice of Value and Minimum Property RequirementsEvery VA purchase needs a VA appraisal done by an appraiser VA assigns. The appraiser sets a value and checks that the home meets VA's Minimum Property Requirements. The result is your Notice of Value, which controls your loan amount and your seller concession limit.
- The VA Tidewater Process: What Happens When the Appraisal Looks LowTidewater is a VA rule that warns your lender before an appraiser reports a value below the contract price. It gives the lender or agent two business days to send more sales data. Here is how to use that window well.
- Buying a Condo With a VA LoanYou can use a VA loan for a condo, but the condo project must be approved by VA. VA keeps a searchable list of approved projects. If a project is not on it, it can often be submitted for approval.
- Buying a 2 to 4 Unit Home With a VA LoanA VA loan can buy a duplex, triplex or fourplex if you live in one of the units. Rent from the other units may help you qualify, but lenders usually want to see reserves and some landlord experience. Loan limits use the one-unit county figure.
- New Construction and VA Construction LoansYou can use a VA loan to buy a newly built home or to build one. Builder rules got simpler in 2025 when VA dropped the Builder ID requirement for most loans. True VA construction-to-permanent loans exist, but few lenders offer them.
Costs & Fees
- The VA Funding Fee and Who Is ExemptThe VA funding fee is a one-time charge that helps pay for the program. It ranges from 0.5% to 3.3% of the loan, depending on the loan type, down payment and prior use. Many Veterans, including those with a service-connected disability rating, pay nothing.
- VA Closing Costs and Fees Veterans Can't Be ChargedVA limits what lenders can charge Veterans at closing. You can pay certain itemized costs plus a flat origination charge of up to 1%, and the seller can pay many costs for you. Here is what is allowed, what is not, and how buyer's agent fees work after the NAR settlement.
Refinancing
- VA IRRRL Streamline Refinance: Seasoning, Net Tangible Benefit and RecoupmentAn IRRRL replaces your current VA loan with a new VA loan, usually to lower your rate. It has a low 0.5% funding fee and often needs no appraisal or income check from VA. Federal law sets seasoning, net tangible benefit and 36-month recoupment rules.
- VA Cash-Out Refinance: Type I and Type IIA VA cash-out refinance can replace any mortgage, VA or not, with a new VA loan. A Type I does not raise your loan balance, while a Type II gives you a bigger loan, often to take cash out. You must live in the home, and VA rules protect you from loans that do not help you.
- Choosing a VA Lender and Avoiding Refinance ScamsVA does not pick your lender or set your rate, so shopping around can save thousands. Compare Loan Estimates, watch out for official-looking mailers, and know the VA rules that protect you from churning. Here is how to choose wisely.
Special Situations
- VA Loans for Manufactured HomesVA loans can be used to buy a manufactured home, a lot, or both. A home that is permanently attached to land and treated as real estate is usually financed like a regular VA loan. Homes not permanently attached have a 1% funding fee and different rules.
- Assumable VA Loans: Selling and BuyingA VA loan can be taken over by a qualified buyer, who keeps the seller's interest rate and balance. That can be a big selling point when rates are high. Sellers need to understand substitution of entitlement and release of liability to protect their own benefit.
- Getting a VA Loan After Bankruptcy or ForeclosureA bankruptcy or foreclosure does not end your VA loan benefit. VA's waiting periods are generally shorter than those for other loans, but lenders may add their own rules. A past VA foreclosure can also reduce your available entitlement until VA's loss is repaid.
- VA Loan Occupancy Rules: Deployment, PCS and Renting Your Home LaterA VA loan must be for a home you plan to live in as your main residence. You usually need to move in within about 60 days. Spouses can meet the rule if you are deployed, and after you have lived there, you can usually move and keep the home as a rental.
- Native American Direct Loan (NADL)The NADL is a home loan made directly by VA to eligible Native American Veterans, and to non-Native Veterans married to Native Americans, for homes on federal trust land. It offers a fixed rate, usually no down payment and limited closing costs.