VA LOANS

A Powerful Home Loan Benefits

VA loans offer eligible Veterans, service members, and qualifying survivors powerful home financing benefits, including the option to purchase with no down payment.

SEE WHAT I QUALIFY FOR

0% Down

Eligible borrowers may purchase with no down payment.

KEY BENEFITS

WHY CHOOSE A VA LOAN

No Monthly PMI

VA loans don’t require monthly private mortgage insurance.

Flexible Credit

VA sets no minimum credit score, though lenders may have their own requirements.

Seller Assistance

Sellers may help with eligible closing costs and concessions.

VA LOAN BENEFITS

Built To Make Homeownership More Accessible

VA Loan Requirements

A Quick Look at the Key Guidelines

No Monthly PMI
VA loans don't require monthly private mortgage insurance. A one-time VA funding fee may apply instead unless the borrower qualifies for an exemption.
No VA-Set Minimum Score
The VA does not establish a universal minimum credit score for VA-backed loans. Individual lenders may set their own minimum credit-score requirements, and satisfactory credit history is still required.
41% Is the VA Benchmark
VA uses 41% DTI as an underwriting benchmark, but it is not an automatic maximum. Loans above 41% may still qualify when the overall file supports approval, including sufficient residual income and other compensating factors.
0% Down May Be Available
Eligible borrowers may purchase with no down payment when the sales price does not exceed the home's appraised value, subject to entitlement and lender qualification requirements.
Up to 4%
VA seller concessions are limited to 4% of the home's reasonable value. Importantly, VA says ordinary closing-cost credits are not subject to that 4% concession limit, so I would keep that distinction on your website.
May Be Financed
For purchase loans with less than 5% down, the current funding fee is 2.15% for first use and 3.30% for subsequent use. Reduced fees apply with 5% or 10%+ down. Certain eligible borrowers are exempt, and the funding fee can generally be financed into the loan.