Am I eligible for a VA home loan?
The VA home loan is one of the strongest wealth-building tools in the federal portfolio: zero down payment, no PMI (private mortgage insurance), competitive interest rates, no prepayment penalty. Most veterans + active-duty + Reserve/Guard members qualify after 90+ days of service.
Active-duty 90+ days OR veteran with qualifying service-length + non-dishonorable discharge.
Requirements
- 90+ days active duty during wartime, OR 181+ days active duty during peacetime, OR 6+ years Reserve/Guard service, OR surviving spouse (under specific conditions)
- Non-dishonorable discharge
- Get a Certificate of Eligibility (COE) — proves you qualify
- Find a VA-approved lender (most major banks + credit unions are approved)
- Property must be your primary residence (not investment property)
- Property must pass VA Minimum Property Requirements (MPR) — basically habitable + safe
Benefits + what's covered
- Zero down payment (full 100% financing)
- No PMI ever (saves $100-$300/month on a $300K loan vs conventional)
- Competitive interest rates (often 0.25-0.5% below conventional)
- No prepayment penalty
- VA funding fee (1.4-3.6% of loan, can be financed) — waived if you have 10%+ disability rating
- Reusable: you can use VA loans multiple times (after paying off the previous one)
Fastest application path
Common pitfalls (avoid these)
Common questions
I have a service-connected disability rating. Does that help with the VA loan?
Yes. 10%+ disability rating waives the VA funding fee (1.4-3.6% of the loan = $4,200-$10,800 savings on a $300K loan). It also can help with closing-cost negotiation since lenders often have discretion on lender fees. Document your rating with a VA disability award letter when applying.
Can I use my VA loan on a multifamily home?
Yes — up to 4 units. You must occupy one of the units as your primary residence. The other 1-3 units can be rented out. This is one of the strongest VA-loan strategies — buy a 4-plex with zero down, live in one unit, rent the other 3, the rental income often covers the mortgage entirely.
I bought a house with a VA loan, then sold it. Can I use it again?
Yes. VA loans are reusable. As long as the previous loan is paid off (or assumed by another VA-eligible buyer), your VA loan eligibility resets. Some veterans have used the VA loan 5-10+ times across a lifetime.
My credit score is below 620. Can I still get a VA loan?
VA itself has no minimum credit score, but most lenders require 580-620+. Some VA-specialty lenders (Veterans United, USAA) will go down to 500-580 with extra documentation. If your score is below 580, work on credit repair first (often 6-12 months to clean up). VA-loan disability discharge for medical/PTSD can sometimes restore credit eligibility — talk to a HUD-certified housing counselor.