What You Need to Do to Get a VA Home Loan
A VA home loan is a mortgage backed by the Department of Veterans Affairs that lets you buy a home with no down payment and no private mortgage insurance. To get one, you need a Certificate of may be able to access from the VA, a lender willing to offer VA loans, and proof you can afford the monthly payment. The process takes roughly 30 to 45 days from process to closing, though this varies by lender and how quickly you provide documents.
The VA does not lend the money itself — a bank, credit union, or mortgage company does. The VA guarantees part of the loan, which is why lenders offer better terms than a conventional mortgage. You will work with a lender's loan officer from start to finish, not with the VA directly.
Key Takeaways
- You must get a Certificate of may be able to access from the VA before a lender will process your process, and you can request one online through VA.gov in minutes.
- A VA loan requires no down payment and no private mortgage insurance, but you will pay a one-time VA funding fee (usually 2 to 3.6 percent of the loan amount) unless you are exempt.
- You need a credit score of at least 580 to 620, depending on the lender, and proof of income and employment for the past two years.
- The VA limits how much a lender can charge you in closing costs, so VA loans typically cost less upfront than conventional mortgages.
- You must be the one living in the home — VA loans are for primary residences only, not investment properties or vacation homes.
Getting Your Certificate of may be able to access
The Certificate of may be able to access is a document from the VA that proves you served long enough to may have access to for a VA loan. You need this before any lender will look at your process. You can request one online at VA.gov by logging into your account or creating one, then going to the eBenefits section and selecting "Request a Certificate of may be able to access for Home Loan." The VA usually sends it to you by email within a few minutes.
If you do not have an online account, you can mail a form to the VA. Use VA Form 26-1880 (Request for a Certificate of may be able to access) and mail it to the VA Regional Loan Center in your state. This takes 7 to 10 business days. You can also call the VA at 1-888-442-4551 and ask them to mail it to you.
You will need your Social Security number and discharge papers (your DD Form 214 or equivalent) to prove your service. If you are still on active duty, you can request a certificate using your military ID number instead.
Finding a Lender and Starting Your process
Not all banks and mortgage companies offer VA loans. Call or visit the websites of lenders in your area and ask whether they do. Credit unions often offer VA loans and sometimes charge lower fees than banks. Once you find a lender, you will meet with a loan officer who will walk you through their process process.
Bring your Certificate of may be able to access and be ready to share your income, employment history, and credit information. The lender will run a credit check and order an appraisal of the home you want to buy. If you do not have a home picked out yet, you can still start the process — lenders will give you a pre-approval letter that shows sellers you are serious.
The lender will ask for pay stubs from the past 30 days, tax returns from the past two years, and a list of your debts (credit cards, car loans, student loans, and so on). They will also ask about any gaps in employment. If you changed jobs recently, bring a letter from your new employer confirming your start date and salary.
Understanding the VA Funding Fee and Other Costs
The VA funding fee is a one-time charge the VA collects to offset the cost of the loan program. It is usually 2 to 3.6 percent of the loan amount, depending on whether this is your first VA loan and how much you are putting down. For a $300,000 loan, the fee might be $6,000 to $10,800. You do not pay this upfront — it is rolled into your monthly mortgage payment.
You do not pay this fee if you are receiving disability compensation from the VA for a service-connected disability, or if you are a surviving spouse of a veteran who died in service or from a service-connected disability. Ask your lender whether you are exempt.
The VA limits closing costs on a VA loan. Your lender cannot charge you more than one percent of the loan amount in fees, and the seller can be required to pay some of your closing costs. This is different from a conventional loan, where you typically pay 2 to 5 percent of the loan amount in closing costs.
Credit Score, Income, and Debt Requirements
Most lenders want a credit score of at least 580 to 620, though some will go lower. If your score is below 620, ask the lender whether they have a manual underwriting process — some will approve you if you can explain any late payments or collections accounts and show you have paid on time for the past 12 months.
You need to show stable income for the past two years. If you are salaried, your pay stubs and tax returns will be enough. If you are self-employed or work on commission, the lender will want to see two years of tax returns and may ask for a profit-and-loss statement. If you recently left the military, your military Leave and Earnings Statement (LES) counts as income proof.
The lender will calculate your debt-to-income ratio — the percentage of your monthly income that goes to debt payments. Most lenders want this to be 41 percent or lower, though some will go to 50 percent if you have a strong credit history and savings. If your ratio is too high, paying down a credit card or car loan before you explore will help.
The Appraisal and Home Inspection
Once the lender approves your process, they will order an appraisal of the home. A VA appraiser will visit the property and make sure it meets VA standards — the home must be safe, sanitary, and in good repair. The appraisal also determines the home's value, which affects how much the lender will loan you.
If the appraisal comes in lower than the purchase price, you have three choices: renegotiate the price with the seller, pay the difference out of pocket, or walk away. The VA will not lend more than the appraised value.
The VA appraisal is not the same as a home inspection. An inspection is optional but recommended — it is a detailed look at the home's condition by a private inspector you hire. An inspection costs $300 to $500 and can uncover problems the appraisal misses, like foundation cracks or roof damage.
Underwriting, Clear to Close, and Closing Day
After the appraisal comes back, the lender's underwriting team reviews your entire file — your credit, income, employment, debts, and the appraisal. They may ask for more documents, like a letter explaining a late payment or proof that you paid off a collection account. Respond quickly; delays here slow down your closing date.
Once underwriting approves everything, the lender issues a "Clear to Close" notice. This means the loan is ready to fund. You will receive a Closing Disclosure document at least three business days before closing. Read it carefully and compare it to the Loan Estimate you received earlier — the interest rate, monthly payment, and closing costs should match what you agreed to.
On closing day, you will sign the final paperwork at the title company or lender's office. Bring a photo ID and a cashier's check or arrange a wire transfer for any money you owe at closing (usually your down payment, if any, plus closing costs not paid by the seller). The title company will record the deed and send the lender's money to the seller. You will receive the keys and own the home.
Frequently Asked Questions
Can I use a VA loan to buy a condo or townhouse?
Yes, as long as the condo or townhouse is on the VA's approved list. The VA requires that at least 70 percent of the units in the building be owner-occupied, not rented. Ask your real estate agent or lender to check the VA's list before you make an offer.
What if I was dishonorably discharged?
A dishonorable discharge disqualifies you from a VA loan. Other than dishonorable discharge, most discharge statuses — honorable, general, and other than honorable — may may have access to. Contact the VA to confirm your status before you explore to a lender.
Can I use my VA loan to build a house instead of buying one?
Yes. VA loans can finance new construction or a construction-to-permanent loan, where the lender funds the build and then converts it to a regular mortgage once the home is finished. The process is similar to a purchase, but the appraisal happens after construction is complete.
Do I have to use my full VA loan benefit?
No. You can borrow less than your full entitlement. Your entitlement is the amount the VA will may provide, which depends on your service length. If you borrow less, you preserve the unused portion for a future loan.
What happens if I sell the house before the loan is paid off?
You can sell anytime. When you sell, the proceeds go to pay off the loan balance, and any money left over is yours. Your VA loan entitlement is restored once the loan is paid in full, so you can use it again for another home.