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Veteran Q&A

What is the VA home loan?

The VA home loan is a federally-backed mortgage with no down payment required, no PMI, and competitive rates for qualifying veterans, active-duty servicemembers, and surviving spouses.

The VA Home Loan Guaranty is a federally-backed mortgage program that lets eligible veterans, active-duty servicemembers, and certain surviving spouses buy a home with zero down payment, no private mortgage insurance (PMI), and competitive interest rates. It's one of the most generous mortgage programs available.

Detail

  • Eligibility: 90+ days of active-duty service (post-9/11), 181+ days (peacetime), or 6+ years in the National Guard/Reserves. Surviving spouses of KIA/P&T veterans also qualify.
  • No down payment: yes, in most cases. The VA does not require any down payment, though lenders may.
  • No PMI: VA loans don't require private mortgage insurance, saving ~0.5%-1% of the loan annually vs conventional.
  • Funding fee: 1.25%-3.3% of the loan, financed into the loan amount. Waived for service-connected disabled veterans.
  • No loan limit (since 2020) for veterans with full entitlement. Previously capped at conforming-loan limits.
  • Apply via any VA-approved lender. Get a Certificate of Eligibility (COE) at va.gov/housing-assistance/home-loans/how-to-apply/.
  • Closing costs: capped at what the seller can pay; some closing costs the lender can't charge to the veteran.
In crisis? Call 988 and press 1 for the Veterans Crisis Line — 24/7 confidential, federally-operated. Text 838255. Chat at veteranscrisisline.net.

Related pages

VA Loan — full glossary entrySAH Grant — Specially Adapted HousingFind housing assistance

Other veteran questions

How do I file a VA disability claim?File VA Form 21-526EZ — Application for Disability Compensation.How long does a VA disability claim take?4-6 months on average for an initial decision; longer for complex or appealed claims.What is a DD-214?A DD-214 is the federal Certificate of Release or Discharge from Active Duty issued to every U.S. servicemember leaving active service.What is TDIU (Total Disability Individual Unemployability)?TDIU is a VA designation that pays at the 100% disability rate when service-connected disabilities prevent you from holding "substantially gainful employment," even if your combined rating is below 100%.Are VA disability payments taxed?No. VA disability compensation is fully tax-free under federal law (38 USC §5301).Is asthma a PACT Act presumptive condition?Yes. Asthma diagnosed after service is a PACT Act burn-pit presumptive for post-9/11 veterans who served in qualifying locations.

About these answers

These plain-English answers are maintained by Wounded Warriors (national 501(c)(3), EIN 86-1336741). We cite VA's official sources where applicable. Always verify the most current rules at va.gov. Free, machine-queryable under CC-BY 4.0.