U.S. Department of Veterans Affairs-backed mortgage
Eligible veterans and service members can purchase or refinance a primary residence through a VA-backed loan, with no private mortgage insurance. It's one of the most valuable home financing benefits available.
Licensed mortgage broker · Answer Home Loans, Inc. NMLS #1729528
Your VA home loan benefit
Guaranteed by the U.S. Dept. of Veterans Affairs
VA loan programs
The right program depends on one key question: are you buying a home, or refinancing an existing VA loan?
Used to purchase a primary residence. Eligible, fully-entitled borrowers can buy with no private mortgage insurance, often with more flexible qualifying guidelines than conventional financing.
Best for: Veterans and service members buying a primary residence, especially those using their VA benefit for the first time.
Interest Rate Reduction Refinance Loan (IRRRL)
Lets existing VA loan holders refinance to a lower rate or a more stable payment, generally with less documentation and no new appraisal.
Best for: Current VA loan holders looking to lower their monthly payment or move from an adjustable to a fixed rate.
Not sure which one fits? Talk to a loan officer.
Individual terms, loan limits, and eligibility depend on your entitlement, service history, and lender guidelines. This comparison is for general informational purposes only.
Why work with us
Eligible, fully-entitled borrowers can purchase a primary residence without paying private mortgage insurance, preserving more cash for life after closing.
We understand the details of entitlement, COE requests, and funding fee waivers that general lenders may overlook.
VA-backed loans often allow more flexible credit and debt-to-income requirements than conventional programs, putting homeownership within reach for more veterans and service members.
The process
We help you verify your service history and obtain your Certificate of Eligibility (COE), the foundation of every VA loan.
Whether you're buying your first home or refinancing an existing VA loan with an IRRRL, we pair you with the program that fits.
We guide you through underwriting, appraisal where required, and closing, so you reach the finish line informed and prepared.
Eligibility
VA-backed loans are reserved for those who have earned them. Here's who typically qualifies.
Currently serving members of any branch of the U.S. Armed Forces who meet minimum service requirements.
Veterans discharged under conditions other than dishonorable who served the minimum required period, as defined by the VA.
Guard and Reserve members who meet VA service requirements, including those who served on federal active duty orders.
Un-remarried surviving spouses of veterans who died in service or from a service-connected disability may be eligible.
Veterans and service members using their VA benefit for the first time, typically with full entitlement available.
Current VA loan holders looking to lower their rate or payment with an IRRRL, or access equity with a VA cash-out refinance.
FAQ · VA loans
Eligible veterans, active-duty service members, and surviving spouses can buy or refinance a home through a VA-backed loan. Here's what to know.
VA loan eligibility generally extends to active-duty service members, veterans who meet minimum service requirements and were discharged under conditions other than dishonorable, certain National Guard and Reserve members, and eligible surviving spouses. The specific service requirements depend on when and how you served. Your loan officer can help you determine eligibility and request your Certificate of Eligibility (COE).
In many cases, no. Eligible borrowers with full entitlement may be able to purchase a primary residence without a down payment, one of the most significant advantages of the VA-backed loan program. If part of your entitlement is in use on a prior VA loan that hasn't been restored, a down payment may be required based on your remaining entitlement and the loan amount. A loan officer can walk you through how entitlement affects your situation.
The VA funding fee is a one-time charge that helps sustain the loan program for future borrowers. The amount depends on the loan type (purchase or refinance), whether it's your first time using the benefit, and the size of any down payment. The fee is waived for veterans who receive VA compensation for a service-connected disability and for eligible surviving spouses. If you may qualify for a waiver, make sure your disability status is verified early in the process.
A Certificate of Eligibility (COE) is the official VA document that confirms you're eligible for a VA-backed loan and shows how much entitlement you have available. It's required before your loan can be processed. In many cases it can be requested electronically through the VA's systems, so you may not need to obtain it yourself. If there are gaps in your service records, you'll be guided through submitting documentation to the VA.
A VA Purchase Loan is used to buy a primary residence and requires standard income, credit, and appraisal documentation. An IRRRL (Interest Rate Reduction Refinance Loan), also called a streamline refinance, is only available to borrowers who already have a VA loan on the property. Its purpose is to lower your rate or stabilize your payment, and it typically requires less documentation and no new appraisal. If you're buying, you need a VA Purchase Loan; if you already have a VA loan and want a lower rate, an IRRRL is the path.
Yes. VA loan benefits aren't limited to a single use, and many veterans use their entitlement more than once, including for a new purchase after paying off or selling a previous VA-financed home. Full entitlement may be restored in certain situations, and a loan officer can walk you through your entitlement status.
Mortgage Wholesale is proud to serve the military community with VA-guaranteed home loan financing. VA loan eligibility is determined by the U.S. Department of Veterans Affairs; down payment, funding fee, and credit requirements vary by entitlement, service history, and lender guidelines. This is not a commitment to lend. Mortgage Wholesale | NMLS #380097 | Equal Housing Opportunity | Not affiliated with or endorsed by any government agency, including the Department of Veterans Affairs.
Check My EligibilityExample scenarios
Illustrative example, not an actual client.
A veteran recently out of the Army wanted to buy a first home. With a Certificate of Eligibility and full entitlement, a VA purchase loan could finance the home without private mortgage insurance.
Timelines, rates, and terms vary by lender and borrower profile.
Illustrative example, not an actual client.
An active-duty service member with an existing VA loan wanted a lower payment. A VA streamline refinance (IRRRL) could reduce the rate with less paperwork and typically no new appraisal.
Timelines, rates, and terms vary by lender and borrower profile.
Illustrative example, not an actual client.
A retired veteran receiving VA disability compensation was buying a new home. Because of the service-connected disability, the VA funding fee could be waived, lowering the cost to close.
Timelines, rates, and terms vary by lender and borrower profile.
Start here
Whether you're buying your first home or looking to lower your payment with an IRRRL, a short conversation can clarify your options. Fill out the form and a VA loan specialist will be in touch.
We confirm your COE and entitlement status
We identify the right VA program for your goals
No commitment required, just answers to your questions
Answer Home Loans, Inc. · NMLS #1729528 · DRE #02058505