The benefit you earned, used properly.
A VA loan is one of the most valuable benefits in lending: no down payment, no monthly mortgage insurance, and rates that are often competitive with conventional. The catch is that plenty of lenders handle few of them. We do not.
Checking eligibility is free and starts with no hard credit inquiry. Licensed in 39 states, rated 4.9 across 5,300+ Google reviews.
You are likely eligible if
You are a veteran
Discharged under conditions other than dishonorable, with the minimum service your service period requires; the length depends on when and how you served.
You are on active duty
After the minimum period of continuous active service for your situation, which the VA sets by service period and duty status; the Certificate of Eligibility confirms it.
You serve in the Guard or Reserves
Under the VA’s separate rules for National Guard and Reserve service, which depend on your years of service and any qualifying active-duty orders.
You may be a surviving spouse
Of a veteran or service member who died in service or from a service-connected disability. Eligibility depends on the circumstances and your marital history; some spouses who remarried, generally at 57 or later, still qualify. The Certificate of Eligibility settles it.
Eligibility depends on your service history, duty status, discharge and other conditions set by the VA, and the rules differ by service period. If you are unsure, we help you request and review your Certificate of Eligibility rather than guessing.
What the benefit is actually worth.
On a $350,000 home, against a conventional loan with 20 percent down and against one with 5 percent down. These are the three places a VA loan puts money back in your pocket.
$0
Down payment
A conventional buyer needs $70,000 for 20 percent, or $17,500 for 5 percent
$0
Monthly mortgage insurance
About $140 a month on a conventional loan at 5 percent down
2.15%
One-time funding fee, first use with less than 5% down
Can be financed into the loan; exempt for veterans receiving VA disability compensation and certain others
Illustrative figures on a $350,000 purchase. Your funding fee depends on your down payment, whether this is your first use of the benefit, and your disability status. MortgagePros is not affiliated with, endorsed by, or acting on behalf of the Department of Veterans Affairs or any government agency.
How a VA loan is different.
The Department of Veterans Affairs does not lend you the money. A private lender does, and the VA guarantees part of the loan against default. That guarantee is why a lender can offer you no down payment and skip mortgage insurance entirely, both of which would be impossible on a conventional loan at the same terms.
Your share of that guarantee is called entitlement, and it is confirmed by a Certificate of Eligibility. We pull the certificate for you, usually within minutes through the VA portal. Entitlement is not single use: once a VA loan is paid off, it can generally be restored and used again for the next home.
In exchange for no down payment and no mortgage insurance, the VA charges a one-time funding fee, which can be financed into the loan rather than paid at closing. Borrowers receiving compensation for a service-connected disability, and many surviving spouses, pay no funding fee at all.
Three ways to use the benefit.
Buying, lowering your rate, or reaching your equity. Your pro will tell you which you are eligible for and what each costs.
Buying a home
VA purchase loan
No down payment up to the amount your entitlement supports, no monthly mortgage insurance, and rates that are often competitive with conventional. Sellers can also contribute to your closing costs.
Lowering your rate
VA IRRRL streamline
The Interest Rate Reduction Refinance Loan replaces an existing VA loan at a lower rate. Usually no appraisal, no full credit underwrite, minimal paperwork, and a closing that is often quicker than a full refinance.
Reaching your equity
VA cash-out refinance
Take cash from your equity: VA rules permit up to 100 percent of your home value, though most lenders cap it at 90, against the 80 percent cap typical of FHA and most conventional programs on a primary residence. It can also refinance a non-VA loan into a VA one.
A benefit you earned. A team that knows how to use it.
The VA loan is one of the most valuable mortgage benefits available: no down payment, no monthly mortgage insurance, and lenders competing on rate. It is also the one most often handled badly by lenders who rarely see one.
Our pros close VA loans every week, pull your Certificate of Eligibility for you, and know how to keep a purchase on track when the appraisal or the seller’s paperwork gets in the way.
The funding fee, and what lenders look for.
The funding fee is set by the VA and depends on your down payment and whether you have used the benefit before. Everything else is set by the lender.
| Your situation | First use of the benefit | Subsequent use | Notes |
|---|---|---|---|
| No down payment | 2.15 percent of the loan | 3.3 percent of the loan | The most common case; the fee can be financed |
| 5 to 9 percent down | 1.5 percent | 1.5 percent | A modest down payment cuts the fee meaningfully |
| 10 percent or more down | 1.25 percent | 1.25 percent | The lowest funding fee tier |
| Service-connected disability | No fee | No fee | Exempt regardless of down payment |
| Credit score | No VA minimum | No VA minimum | Lenders commonly want 580 to 620 |
| Debt-to-income ratio | No fixed cap | No fixed cap | Residual income is weighed alongside the ratio |
| Occupancy | Primary residence | Primary residence | You must intend to live in the home |
Funding fee percentages are those published by the VA for purchase loans and change from time to time. IRRRL and cash-out refinances use their own rates. Not a commitment to lend.
Zero down, no monthly mortgage insurance
The VA loan is one of the most valuable mortgage benefits available to the people who earned it.
What would the payment be?
Set the down payment to zero and choose VA as the loan type. The mortgage insurance line stays at zero no matter how little you put down, which is the part no other loan can match.
When to use it, and when to hold it back.
A VA loan is the right answer most of the time. Here are the exceptions worth knowing about.
A good fit if you want to
- You want to buy without draining your savings for a down payment
- You would otherwise be paying mortgage insurance every month for years
- Your credit is good but not excellent, where VA pricing is often competitive with conventional
- You already have a VA loan and rates have fallen, which makes an IRRRL straightforward
- You need more than 80 percent of your equity in a cash-out refinance
- You are exempt from the funding fee through a service-connected disability
Probably not the right move if
- You are buying a second home or a rental, which the benefit does not cover
- You have 20 percent to put down and want to keep the entitlement for a later purchase
- The property will not pass the VA appraisal, which has minimum condition standards
- You are buying a property that a VA loan cannot finance, such as most working farms
Put your VA benefit to work.
A licensed pro confirms your eligibility, explains the funding fee and any exemption you qualify for, and quotes your rate. Free, and it starts without a hard credit pull.
The U.S. mortgage market right now.
National average rates from the Federal Reserve Bank of St. Louis FRED database: the Freddie Mac survey for conventional and the Optimal Blue indices for FHA and VA, shown as third-party market benchmarks, not MortgagePros pricing. VA loans often price competitively against conventional loans for the same borrower, depending on the lender and market, which is one of the benefit’s quieter advantages.
VA 30-year fixed, U.S. average
7.09%
Conventional 30-year fixed, U.S. average
7.40%
FHA 30-year fixed, U.S. average
7.18%
Sources: Freddie Mac Primary Mortgage Market Survey (conventional, 30-year national average, week of Oct 8, 2026) and Optimal Blue Mortgage Market Indices (FHA and VA, 30-year national averages as of Oct 8, 2026), distributed through FRED, Federal Reserve Bank of St. Louis; the figures and dates refresh automatically from the source. These are third-party market benchmarks, not MortgagePros rates and not an offer of credit. Your rate and APR depend on your credit, loan type, property and lock date.
VA loan questions, answered.
The questions veterans and service members ask us most. If yours is not here, a licensed pro will answer it directly, with no obligation.
How do I get my Certificate of Eligibility?
We pull it for you. In most cases it comes back through the VA portal within minutes, using your service details. If your record needs manual review it can take a few days, and we will tell you exactly what the VA is asking for. You do not need the certificate in hand before we start.
Is there really no down payment?
Yes, for most eligible borrowers buying within what their entitlement supports. You will still need money for closing costs, though sellers are allowed to contribute toward them and some costs can be financed. Putting something down is optional and lowers your funding fee.
What is the funding fee and can I avoid it?
It is a one-time fee that replaces mortgage insurance, and it funds the program for the next generation. On a first purchase with nothing down it is 2.15 percent of the loan, and it can be rolled into the loan rather than paid at closing. You pay nothing at all if you receive compensation for a service-connected disability, and many surviving spouses are also exempt. How the VA funding fee works has the full table and every exemption.
Is there a VA loan limit?
For borrowers with full entitlement, no. You can borrow what a lender will approve based on your income and credit, with no down payment. Limits still matter if part of your entitlement is tied up in an existing VA loan, in which case a down payment may be required above a certain amount.
Can I use a VA loan more than once?
Yes. Entitlement is generally restored once a VA loan is paid off, so the benefit can be used again for your next home. It is also possible to have two VA loans at the same time using remaining entitlement, which comes up when a service member relocates and keeps the first property.
What credit score do I need?
The VA sets no minimum. Lenders do, and most look for 580 to 620. VA underwriting also weighs residual income, which is the money left after your mortgage and other obligations, and that can work in your favour where a conventional debt-to-income test would not.
What is the VA appraisal like?
It sets the value like any appraisal, and it also checks that the home meets minimum property requirements: sound structure, working systems, safe access, no obvious hazards. Homes needing significant repair can fail, which matters if you are considering a fixer-upper.
Can I buy a rental or a second home?
Not directly. The benefit is for a home you intend to live in. Multi-unit buildings up to four units do qualify if you occupy one of them, which is a route plenty of service members use to start out as landlords.
What is an IRRRL?
The Interest Rate Reduction Refinance Loan, often called a VA streamline. It refinances an existing VA loan to a lower rate with very little paperwork, usually no appraisal, and no full credit underwrite. It must give you a real benefit, such as a lower payment or a move from an adjustable rate to a fixed one.
Do sellers dislike VA offers?
That reputation is outdated, and it usually comes from a listing agent who has not handled one recently. VA loans close on normal timelines when the lender knows the program. We speak to the listing agent directly when it helps, which is often what settles the question.
VA loans in all 39 states we serve.
MortgagePros is licensed in each state below; license types vary by state and are listed on our Licensing page. Wherever you are stationed or settling, the same pro is your point of contact from certificate to closing.
AL · AR · AZ · CA · CO · CT · DE · FL · GA · IA · ID · IL · IN · KS · KY · LA · MA · MD · ME · MI · MN · MS · MT · NC · ND · NE · NJ · NM · OH · OK · OR · PA · SC · SD · TN · TX · VA · WA · WI
Check your VA eligibility.
Tell us a little about your service. A licensed pro will pull your Certificate of Eligibility and come back with real numbers, usually the same business day.
Prefer to talk?
248-416-1361
Open 24/7. Ask for a VA specialist.
We handle the paperwork
We pull your Certificate of Eligibility, confirm your entitlement and check whether the funding fee applies to you. No hard credit pull until you decide to move forward.
Licensed and reviewed
Licensed in 39 states. NMLS #1925352. Rated 4.9 across 5,300+ Google reviews.