VA home loan programs are available to eligible veterans, active-duty service members, and certain surviving spouses and may offer financing options for the purchase of a primary residence, subject to program guidelines and lender approval.

Eligible disabled veterans may qualify for additional VA loan benefits, such as potential funding fee exemptions, depending on VA eligibility requirements.

The VA Home Loan Program may be used more than once by eligible borrowers, subject to available entitlement, program guidelines, and lender underwriting requirements.

Loan approval, terms, costs, and eligibility requirements vary by borrower and lender. Not all applicants will qualify. Equal Housing Opportunity.

The VA mortgage loans extend to not only the Army, Navy, Air Force and Marines but also to Reservists and National Guardsmen.

The standard VA loan limit for a single-family home in a typical U.S. county in 2026 is $806,500, with a maximum of $1,209,750 in high-cost areas for a loan with no money down. It also increased the eligibility for Veterans and active duty personnel and increased the benefits to Disabled Veterans.

Some of the benefits of the VA Mortgage Loan Program are:

• VA Loan Program Features (for Eligible Borrowers):
  • VA loans may allow eligible borrowers to purchase a primary residence with no down payment, subject to VA entitlement, lender approval, and underwriting requirements.
  • VA loans do not require monthly mortgage insurance; however, a VA funding fee may apply unless the borrower is exempt.
  • Certain VA loans may be assumable, subject to lender and VA approval.
  • VA loans offer flexible qualification guidelines compared to some conventional loan programs, subject to program requirements.
  • VA loans may be refinanced through VA streamline (IRRRL) or standard VA refinance options, subject to eligibility and underwriting requirements.

  Loan approval, rates, terms, costs, and eligibility requirements vary by borrower and lender. Not all applicants will qualify. Equal Housing Opportunity.

You may not have to put any money down to qualify for a VA Home Mortgage Loan for up to $806,500. If the seller agrees to pay the closing costs, you may be able to purchase the home with no out of pocket costs. The loan and sales contract can be set up so that the VA Home Mortgage Loan cover 100% of the selling price and the seller covers the closing cost.

The VA Funding Fee

VA loans may include a VA Funding Fee, which is assessed by the Department of Veterans Affairs and helps offset the cost of the VA Home Loan Program. The funding fee amount varies based on factors such as loan type, down payment amount, and whether the borrower has used VA benefits previously.

The VA Funding Fee may be financed into the loan amount, subject to program guidelines, and paid over the life of the loan.

Unlike many conventional loans, VA loans do not require monthly private mortgage insurance. Eligible disabled veterans and certain surviving spouses may qualify for an exemption from the VA Funding Fee, subject to VA eligibility requirements.

Loan approval, terms, costs, and eligibility requirements vary by borrower and program. Not all applicants will qualify. Equal Housing Opportunity.

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Assumable VA Mortgage Loans

VA loans are also assumable. If the person assuming the mortgage is a veteran with VA eligibility, the original veteran will not be giving up the amount of eligibility that they used to get the loan at the beginning. Veterans should use great care and closely investigate the terms of an assumption before allowing someone to assume their mortgage. It is too great a benefit to give up.

Qualifying for a VA Mortgage Loan

The VA offers excellent qualifying standards. The VA does not use credit scoring in their analysis of the loan. Even if you have experienced some financial difficulties in your life that caused your scores to be low but have maintained a good payment record over the past year or so, you may qualify for a VA mortgage loan. This can be a tremendous savings compared to the cost of conventional loans when the borrower's credit scores are low.

VA Mortgage Loans may be refinanced

VA mortgage loans have built in features allowing a loan to be refinanced to a lower interest rate without all of the criteria normally associated with a conventional loan. This is called an Interest Rate Reduction Loan; the veteran can secure a lower interest rate without any credit checks, appraisal, and income or asset verification and can roll the costs of the transaction into the loan so there are no out of pocket costs.