You earned this benefit.

What your VA benefit covers

• No down payment for eligible buyers with full entitlement.
• No monthly mortgage insurance, which can lower your payment a lot compared with other low-down options.
• Help from the seller: closing costs, plus concessions of up to 4% of the price.
• A loan buyers can take over when you sell, at your existing rate, if they qualify.

You can read the full program details on the VA loan page. This page is about putting the benefit to work in your situation.

Situations I see often

• Buying your first home with nothing down, or putting a little down to lower the funding fee.
• Moving for a new assignment and buying again while you still own your last VA home, when you have remaining entitlement.
• Buying a 2 to 4 unit property, living in one unit and renting out the others.
• Receiving VA disability compensation, which usually means no funding fee at all.
• Surviving spouses who may be eligible for the benefit in their own right.

Your Certificate of Eligibility

Every VA loan starts with a Certificate of Eligibility. I can often request it for you online. If not, it comes from the VA using your service records: a DD-214 for veterans, or a statement of service for active duty service members.

When another loan fits better

VA is usually the strongest option for eligible buyers, but not always. A second home or a rental is not eligible for VA financing, so a conventional or DSCR loan fits there. And with 20% or more down, a conventional loan skips both mortgage insurance and the funding fee, so it is worth comparing the two.