The benefit you earned, handled properly.
VA loans are guaranteed by the Department of Veterans Affairs. Eligible veterans, service members and surviving spouses can buy with no down payment and no monthly mortgage insurance. Troy pulls the Certificate of Eligibility and runs the file himself.
- Guaranteed by
- U.S. Department of Veterans Affairs
- Down payment
- 0 percent for eligible borrowers with full entitlement
- Mortgage insurance
- None; a one-time funding fee applies unless exempt
- Uses
- Purchase, cash-out refinance and Interest Rate Reduction Refinance
How it works
A VA loan is a mortgage guaranteed by the Department of Veterans Affairs for eligible veterans, active-duty service members, members of the National Guard and Reserve, and certain surviving spouses. The guarantee lets lenders offer financing with no down payment and no monthly mortgage insurance, which makes it one of the strongest home-loan benefits available.
Instead of mortgage insurance, most VA borrowers pay a one-time funding fee, which can be financed into the loan. Veterans receiving VA disability compensation and certain others are exempt. Eligibility is confirmed through a Certificate of Eligibility that Troy can request on your behalf.
VA loans can be used to purchase, to refinance with cash out, or to lower the rate on an existing VA loan through an Interest Rate Reduction Refinance Loan with minimal documentation. Entitlement can be restored after a prior VA loan is paid off, and in many cases a borrower can hold more than one VA loan at a time.
- Veterans, active-duty service members and eligible surviving spouses buying a primary residence
- Buyers who want to preserve savings rather than put them into a down payment
- Owners with an existing VA loan who want a lower rate through a streamline refinance
- Veterans using remaining entitlement to buy again after a prior VA loan
- Buyers of homes up to and above the county loan limit, with a down payment above the limit
Not sure you fit? Ask. Troy tells people on the first call when a different program serves them better.
What to consider
Program details vary by investor and change over time. These are the questions that decide whether the loan is right for you; Troy confirms the specifics for your file.
Certificate of Eligibility
Eligibility depends on service history and discharge status. Troy requests the certificate through the VA system so you do not have to chase it.
Funding fee
A one-time fee based on down payment and whether it is your first VA loan. It can be financed. Borrowers receiving VA disability compensation are typically exempt.
Entitlement and loan limits
With full entitlement there is no VA loan limit, though lenders set their own. With partial entitlement the county limit matters. Troy checks yours.
Property and occupancy
The home must be your primary residence and meet VA minimum property requirements. Condos must be on the VA-approved list.
The process
From the first conversation to funding, you deal with Troy.
Confirm eligibility
Troy pulls your Certificate of Eligibility and confirms your entitlement.
Pre-approval
Credit, income and assets reviewed by Troy, with the funding fee included in the figures you see.
Appraisal
A VA appraisal establishes value and checks minimum property requirements. Troy walks the report with you.
Closing and funding
Signing is scheduled around you. Troy coordinates escrow so the loan funds on the date you planned.
Questions people ask
General answers. The answer for your file comes from a conversation with Troy, not from a web page.
Do VA loans really require no down payment?
For eligible borrowers with full entitlement, yes. A down payment is optional and lowers the funding fee. With partial entitlement a down payment may be needed above the county limit.
Can I use my VA benefit more than once?
Yes. Entitlement is restored once a prior VA loan is paid off, and partial entitlement can often be used while another VA loan is outstanding. Troy checks your remaining entitlement.
Is there mortgage insurance on a VA loan?
No monthly mortgage insurance. Most borrowers pay a one-time funding fee, which can be financed. Veterans receiving VA disability compensation are generally exempt.
Can I buy a condo with a VA loan?
Yes, if the project is VA-approved. Troy checks the approved list before you write an offer.
Related programs
Often considered alongside this one. Troy prices the alternatives so you can see them side by side.
Home purchase
Conventional, FHA, VA, jumbo and down-payment assistance, with a pre-approval that has been underwritten before the letter goes out.
FHA loans
Lower down payments and flexible credit guidelines for purchases and refinances, insured by the Federal Housing Administration.
Refinance
Lower the payment, shorten the term or take cash out, with the before-and-after on the table before you decide.
Conventional
Fannie Mae and Freddie Mac financing with agency pricing for documented income, including high-balance for Los Angeles County.
Talk it through with Troy.
No obligation and no credit pull on the first call. Tell him what you’re trying to do and he’ll tell you whether va loans financing is the right tool, and what it would cost.