VA Mortgage Loans
Zero down. No monthly mortgage insurance. A benefit earned through service.
A Loan Designed for Veterans and Active Duty Families
VA loans exist to expand homeownership access for those who served. They remove some of the biggest barriers buyers face: large down payments and mortgage insurance.
For eligible borrowers, this is one of the strongest mortgage tools available.
Whether buying or refinancing, VA financing is built for stability and long-term affordability.
What a VA Loan Includes
Backed by the U.S. Department of Veterans Affairs
No down payment required
No monthly private mortgage insurance
Competitive interest rates
Flexible credit and income guidelines
Primary residence financing
This program prioritizes access and affordability.
Who It’s For
Active-duty military
Veterans with qualifying service
Eligible surviving spouses
Military families seeking purchase or refinance options
Eligibility is service-based, not income-based.
Pros and Tradeoffs
Pros
$0 down payment
No PMI
Competitive rates
Flexible qualification
Tradeoffs
VA funding fee applies (can be financed)
Primary residence only
Eligibility documentation required
It’s powerful — but structured.
Example Scenario
Home price: $950,000
Down payment: $0
Monthly mortgage insurance: $0
Funding Fee: Could be $0 (did you know that if you are even 10% disabled as designated by the VA, your funding fee is waived?)
Closing costs: Often covered via credits or negotiation
The result is lower upfront cash and lower monthly overhead.
Pro Tip from Chris:
“VA loans aren’t a fallback option. They’re often the strongest financing available. My job is making sure you use every benefit you’ve earned.”
Funding fee exemptions exist for qualifying disability ratings and certain service classifications.
We’ll verify eligibility properly — not guess.
Can I refinance a VA loan later?
Yes. VA borrowers have two primary refinance options. The first is the VA Interest Rate Reduction Refinance Loan, commonly called the IRRRL or VA Streamline Refinance, which allows you to refinance an existing VA loan into a new VA loan with a lower rate and minimal documentation — no appraisal or income verification is typically required. The second option is refinancing into a conventional loan, which some borrowers choose when they want to free up their VA entitlement for a future purchase or when conventional terms are more favorable. A VA cash-out refinance is also available, allowing eligible borrowers to access home equity while remaining in a VA loan.
Can I use a VA loan more than once?
Yes. VA loan benefits can be used multiple times as long as entitlement is available or restored. When you sell a home and pay off the VA loan, your full entitlement is typically restored and you can use the benefit again. It is also possible to have two VA loans simultaneously if you have remaining entitlement and meet the occupancy and qualifying requirements. Bonus entitlement allows eligible borrowers to purchase higher-value homes, including in high-cost markets like the Bay Area, without a down payment in many cases. A mortgage broker experienced with VA loans can review your Certificate of Eligibility and map out exactly how much entitlement you have available.
Is a down payment required for a VA loan?
No. Eligible borrowers can purchase a home with zero down payment using a VA loan, which is one of the most significant financial advantages the program offers. In high-cost markets like the San Francisco Bay Area where home prices regularly exceed one million dollars, the ability to purchase without a down payment can be a substantial benefit. There is no VA loan limit for borrowers with full entitlement, meaning eligible veterans can finance a Bay Area home without a down payment as long as they qualify based on income, credit, and the property meets VA standards.
What is the VA funding fee?
The VA funding fee is a one-time upfront fee charged on most VA loans that helps sustain the VA loan program for future generations of veterans. The fee varies based on factors including whether it is a first or subsequent use of the VA benefit, the loan type, and the down payment amount if any. For a first-time use with no down payment, the funding fee is typically around 2.15 percent of the loan amount. The fee can be financed into the loan rather than paid out of pocket at closing, which means it does not affect the cash needed to close but does slightly increase the loan balance and monthly payment.
Can the VA funding fee be waived?
Yes. Veterans who receive VA disability compensation at any rating level are exempt from the VA funding fee entirely. Surviving spouses of veterans who died in service or from a service-connected disability are also exempt. Active duty service members who have received a Purple Heart are exempt as well. If you are in the process of filing for a disability rating at the time of closing, it may be worth waiting for a determination before closing if approval is likely, as the exemption can save thousands of dollars. Your lender will verify funding fee exemption status through your Certificate of Eligibility.