What is a VA loan?
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs, available to eligible veterans, active-duty service members, members of the National Guard and Reserves, and certain surviving spouses. The VA’s guarantee lets lenders offer terms that simply aren’t available anywhere else. It is consistently the most borrower-friendly major loan program in the market.
Eligibility is documented with a Certificate of Eligibility (COE). If you don’t have yours, don’t worry. Michael can typically pull it electronically in minutes with your basic service information.
Why VA terms stand apart
The VA program was designed as an earned benefit, and it shows. Qualified borrowers can finance a home without a down payment requirement in most cases, there is no monthly mortgage insurance, and the VA limits certain costs veterans are allowed to pay. Credit guidelines are pragmatic, and the VA funding fee, the program’s one signature cost, is waived entirely for many disabled veterans.
VA loans also include a powerful long-term feature: they’re assumable. A future qualified buyer can take over your loan on its existing terms, which can make your home meaningfully more marketable someday.
A guide who respects the benefit
VA files have their own rhythm, COEs, the VA appraisal with its Notice of Value, non-allowable costs, funding-fee tiers. Michael has shepherded VA buyers through all of it for nearly three decades, and he treats the benefit with the respect it deserves: by making sure you actually get the full advantage you earned.
Why borrowers choose it
- No down payment requirement for most qualified borrowers
- No monthly mortgage insurance, a major ongoing savings
- Pragmatic credit guidelines built for real service careers
- Limits on certain fees veterans can be charged
- Assumable by a future qualified buyer
Good to know
- Primary residences only
- A one-time VA funding fee usually applies (waived for many disabled veterans)
- Requires a Certificate of Eligibility, which Michael can pull for you
- VA appraisal includes property-condition requirements
Program guidelines, eligibility requirements, and terms vary by lender and change over time. The overview above is educational, not a complete statement of any program’s requirements, an offer of credit, or a commitment to lend. Michael will confirm current guidelines for your exact scenario.
