Understanding your VA home loan benefit

Benefit, costs and preparation

• Eligibility: ask about your Certificate of Eligibility and any previous use of the VA benefit.

• Costs: review any funding fee, closing costs and prepaid expenses alongside the down payment.

• Property: confirm occupancy, appraisal and remaining lender requirements. Eligibility for a benefit is not final loan approval.

Start with your eligibility

Eligible veterans, service members and surviving spouses may be able to use a VA-backed home loan. A Certificate of Eligibility helps establish the benefit. The lender still reviews the application and the home.

Used the benefit before, or already have a VA loan? Have your entitlement checked for the new purchase. Your situation may differ from someone using the benefit for the first time.

Understand what the benefit covers

Eligible VA purchases can allow no down payment and don’t require monthly mortgage insurance. A down payment can still be required in some circumstances. Check how the loan amount, entitlement and property affect your purchase.

A VA funding fee may apply unless you qualify for an exemption. Other closing costs and prepaid expenses may remain too. Find out what you’d pay upfront and what would be added to the balance.

Check the home and the timeline

The property and occupancy plans must meet the program’s requirements. An appraisal is part of the process, but it doesn’t replace an inspection of the home’s condition.

Tell the loan officer and your agent about any military move or relocation dates. Closing depends on the completed application, property review and the rest of the transaction.

Ask us what to prepare

We can explain the application and the documents needed for your review. Use VA’s official guidance for benefit information, and confirm the lender’s requirements before making an offer.