Are you a Veteran?

Thank you for your service! The VA loan program is one of the most powerful benefits available to veterans, active-duty service members, and eligible surviving spouses. With no down payment requirements, competitive interest rates, and no private mortgage insurance (PMI), VA loans provide an accessible path to homeownership. Understanding how eligibility, disability ratings, and entitlement work is key to maximizing this benefit.

To qualify for a VA loan, veterans must meet specific service requirements. These include:

• Active-duty service members with at least 90 consecutive days of service during wartime or 181 days during peacetime.
• Veterans who meet minimum service requirements based on their period of service.
• National Guard and Reserve members with at least six years of service or 90 days of active service under Title 10 orders.
• Surviving spouses of service members who died in the line of duty or due to a service-related disability may also be eligible.

A Certificate of Eligibility (COE) from the VA is required to prove eligibility. Lenders use this to verify your entitlement before approving your loan.

Entitlement refers to the amount the VA guarantees on your behalf to lenders. Most veterans have full entitlement, meaning they can secure a loan with no cap, as long as they meet lender qualifications. However, if a veteran has used their VA loan benefit before, they may have remaining entitlement, which allows them to purchase another home while still having a portion of their benefit available.

• Full Entitlement: No loan limit for VA-backed loans; the VA guarantees 25% of the loan amount.
• Remaining Entitlement: If you’ve already used part of your entitlement and still have a VA-backed loan, limits may apply based on county loan limits.

A VA disability rating determines a veteran’s level of service-connected disability and eligibility for additional benefits. Ratings range from 0% to 100% and are assigned based on medical conditions related to military service.

Veterans with a 10% or higher disability rating may be eligible for additional benefits, including:

• Funding Fee Exemption: VA loans typically require a funding fee, but disabled veterans with a service-connected disability rating of 10% or more are exempt.
• Property Tax Exemptions: Many states offer property tax reductions or exemptions for veterans with disabilities.
• Specially Adapted Housing (SAH) Grants: Veterans with severe disabilities (e.g., loss of limbs, blindness) may qualify for grants to modify their homes for accessibility.

Veterans can leverage the VA loan benefit in several ways:

1. Buying a Home with No Down Payment – One of the biggest advantages of a VA loan is the ability to purchase a home without needing a down payment.
2. Lower Interest Rates & No PMI – VA loans generally have lower interest rates than conventional loans, and because they don’t require private mortgage insurance (PMI), veterans save money over time.
3. Refinancing with a VA Loan – Veterans can refinance with a VA Interest Rate Reduction Refinance Loan (VA IRRRL) or a VA Cash-Out Refinance to lower their rate or tap into home equity.
4. Purchasing Multi-Unit Properties – Veterans can buy up to a four-unit property with a VA loan, as long as they occupy one of the units, opening the door to real estate investment opportunities.
5. Second Home & Reusing VA Loan Benefits – Veterans can use their VA loan benefit multiple times as long as they restore their entitlement after selling a property or by having remaining entitlement available.

Understanding your eligibility, entitlement, and disability benefits allows you to fully utilize the VA loan program to build wealth and achieve homeownership. If you’re a veteran interested in learning more about your options, we can guide you through the process and ensure you take full advantage of the benefits you’ve earned.