Best forEligible Veterans, service members and qualifying surviving spouses
Property usePrimary occupancy requirements generally apply
Key featureVA guaranty and Certificate of Eligibility
Who this option may be for
- Applicants who meet VA service eligibility and obtain a Certificate of Eligibility.
- Qualified borrowers seeking a purchase or eligible refinance option.
- Borrowers who can meet the lender’s credit, income and property requirements.
Qualification basics
- A Certificate of Eligibility confirms the applicant’s VA home loan benefit eligibility.
- The lender still reviews credit, income, debts and ability to repay.
- VA occupancy and property requirements must be satisfied.
- A VA funding fee may apply unless an exemption is available; closing costs still need review.
Potential benefits
- Eligible borrowers may obtain favourable terms compared with some traditional options.
- Many VA-backed purchase loans are made without a down payment.
- Monthly private mortgage insurance is generally not required by the VA program.
Important considerations
- Eligibility is limited and must be verified by VA.
- A funding fee may apply for some borrowers.
- The property and transaction must meet VA and lender requirements.
Documents to prepare
- Certificate of Eligibility
- Service documentation if requested
- Income and employment records
- Asset and debt information
- Purchase contract or current VA loan statement
Frequently asked questions
What is a Certificate of Eligibility?
A COE is the document that shows a lender you meet the VA service eligibility requirement for the home loan benefit.
Does VA approve the borrower directly?
The lender evaluates the application under VA and lender requirements. VA determines benefit eligibility and guarantees part of an eligible loan.
Can a VA loan finance a vacation home?
VA-backed purchase loans generally require the home to be occupied as the borrower’s residence, subject to VA rules.
Talk through the details
Have questions about va loans?
Greg can help you compare programme details, documentation, costs and timing for your specific scenario.
Authoritative education sources
Programme rules, limits and lender overlays can change. This page is educational and is not a commitment to lend or a substitute for reviewing official disclosures.