VA Home Loan program

VA provides policy, guidelines, and oversight of the program. Lenders provide financing for eligible Veterans. The guaranty allows Veterans to obtain a competitive loan without a down payment. Lenders need a Certificate of Eligibility to prove entitlement. Your length of service or service commitment, duty status and character of service determine your eligibility for specific home loan benefits.

Key Features

  • $0 Down
  • NO Mortgage Insurance
  • Min FICO 620

VA Certificate Of Eligibility (COE)

For Purchase and Cash-Out Refinance Loans, borrowers must have suitable credit, sufficient income and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed home loan. The COE verifies to the lender that the borrower qualifies for a VA loan.

To obtain a COE for a Veteran we must have a copy of the DD Form 214 which provides the type of service and the reason for separation. Typically the borrower must have been discharged under conditions other than dishonorable. If a borrower is an active duty service member and does not have the DD Form 214 we will need a current signed statement of service or other acceptable documentation. The specific documentation will depend on whether the borrower has been discharged or is active and the type of branch of service.

VA home loans can be used to:

  • Buy a home, a condominium unit in a VA-approved project
  • Build a home
  • Simultaneously purchase and improve a home
  • Improve a home by installing energy-related features or making energy efficient improvements
  • Buy a manufactured home and/or lot.