From checking your eligibility to closing day — the complete guide to using your VA loan benefit. Includes interactive eligibility checker, funding fee calculator, IRRRL refinancing, and SAH/SHA adaptive housing grants.
A VA home loan is a mortgage benefit earned through military service. The VA doesn't lend money directly — instead, it guarantees a portion of loans made by private lenders, enabling them to offer more favorable terms to veterans, service members, and eligible surviving spouses. It's one of the most powerful financial benefits ever created.
Buy a home with no down payment required. The only major loan program that allows this without PMI.
Private Mortgage Insurance (PMI) costs $100–300/month on conventional loans. VA loans have none.
VA loans consistently have lower interest rates than conventional loans — often 0.5–1% lower.
You can use your VA loan benefit multiple times. Restore entitlement after paying off a prior VA loan.
Pay off your loan early without penalty. Save thousands by making extra payments anytime.
Qualified buyers can assume your VA loan — including the original interest rate. Huge selling advantage.
Enter your service details below to get an eligibility estimate. This is a general guide — contact the VA or a VA-approved lender for a formal determination.
Input your service information for an instant eligibility estimate.
Your COE proves to lenders that you qualify for a VA loan. You can get it online through the VA eBenefits portal, through a VA-approved lender (most can pull it instantly), or by mailing VA Form 26-1880. Many lenders can obtain your COE on your behalf in minutes.
Not all lenders work with VA loans. Find a VA-approved lender and get pre-approved — this tells sellers you're serious and shows your budget. Compare rates from at least 3 lenders; VA loan rates vary between lenders.
Work with a real estate agent experienced with VA loans. The home must be your primary residence and meet VA Minimum Property Requirements (MPRs) — it must be safe, sanitary, and structurally sound. Condos must be on the VA-approved condo list.
Once you're under contract, a VA-assigned appraiser inspects the property and determines its value. This is different from a home inspection (get both). The VA appraiser checks that the home meets MPRs. Underwriting typically takes 30–45 days total.
Sign the final paperwork, pay your closing costs (sellers can pay up to 4% of the loan amount in concessions), and get your keys. The funding fee can be rolled into the loan so you pay nothing upfront. Welcome home!
The VA funding fee is a one-time fee that helps fund the VA loan program. It's not interest and can be rolled into your loan. Veterans with 10%+ service-connected disability ratings are exempt.
| Feature | 🏅 VA Loan | Conventional Loan |
|---|---|---|
| Down Payment | ✓ 0% required | 3–20% required |
| Private Mortgage Insurance | ✓ None ever | Required if <20% down ($100–300/mo) |
| Interest Rates | ✓ Lower (avg 0.5–1% less) | Market rate |
| Funding Fee | 1.25–3.3% (one-time, waived if disabled) | ✓ None |
| Minimum Credit Score | ✓ No VA minimum (lenders set 580+) | 620+ typically |
| Debt-to-Income Ratio | ✓ More flexible | Stricter limits |
| Loan Limits | ✓ No loan limits (full entitlement) | Conforming: $766,550 (2024) |
| Prepayment Penalty | ✓ None | Possible |
| Assumable | ✓ Yes (by qualified buyers) | Generally no |
| Property Types | Single-family, multi-unit (up to 4), VA-approved condos | Most property types |
| Foreclosure Protection | ✓ VA advocates on your behalf | Standard process |
If you already have a VA loan, the IRRRL (also called the VA Streamline Refinance) lets you refinance to a lower interest rate with minimal paperwork and no appraisal required. It's one of the fastest refinance options available.
Most lenders can close an IRRRL in 30 days or less. Contact a VA-approved lender to check current rates.
If you have a severe service-connected disability, you may qualify for grants to build, buy, or modify a home to meet your needs. These grants don't need to be repaid.
For veterans with severe service-connected disabilities that affect mobility — such as loss of use of both legs, blindness in both eyes with visual acuity of 5/200 or less, or severe burn injuries. Can be used to:
For veterans with service-connected disabilities affecting extremities or blindness. Helps adapt a home you or a family member owns. Can be used up to 6 times (lifetime benefit of $22,036).
If you're temporarily living in a family member's home, TRA allows grant funds to adapt that home for your needs — even if you don't own it. The adaptations belong to the family member after you leave.
Your COE is the first step toward using your VA home loan benefit. Complete VA Form 26-1880 or have a lender pull it for you through our guided form tool.
Get Your COE — VA Form 26-1880 →