VA Home
Loans
Zero down payment. No private mortgage insurance. Competitive rates. The VA loan benefit is one of the most powerful home financing tools available to those who have served our country.
Last updated: March 2026
What Is a
VA Loan?
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs. This guarantee allows private lenders to offer veterans, active-duty service members, and eligible surviving spouses extraordinary loan terms — including zero down payment and no private mortgage insurance. Since the program began in 1944, the VA has guaranteed more than 28 million home loans.
Zero Down Payment
VA loans require absolutely no down payment, regardless of the purchase price. You can finance 100% of the home's value, keeping your savings intact for moving costs, renovations, or emergencies.
- 100% financing available
- No minimum down payment
- No loan amount limit with full entitlement
- Keep savings for other needs
No PMI Required
Unlike conventional and FHA loans, VA loans never require private mortgage insurance or monthly mortgage insurance premiums — even with zero money down. This saves hundreds of dollars every month.
- No monthly mortgage insurance
- Save $150-$300+ per month vs. FHA
- Savings of $50,000+ over loan life
- Lower monthly payments
Competitive Rates
Because the VA guarantees a portion of the loan, lenders can offer below-market interest rates. VA rates are consistently among the lowest of any loan type, often 0.25% to 0.50% lower than conventional rates.
- Rates typically below conventional
- No rate penalty for lower scores
- Fixed and adjustable options
- Competitive closing costs
Who Qualifies for a
VA Loan?
VA loan eligibility is based on your military service history. Most veterans, active-duty service members, National Guard and Reserve members, and certain surviving spouses qualify. A Certificate of Eligibility (COE) confirms your entitlement.
Active Duty Service Members
Currently serving with at least 90 continuous days of active service. You can use your VA benefit while still serving — there is no requirement to wait until separation.
Veterans
Served at least 90 days during wartime or 181 days during peacetime. If discharged for a service-connected disability, there is no minimum service requirement.
National Guard & Reserves
Served at least 6 years in the Selected Reserve or National Guard and were honorably discharged, or completed at least 90 days of active service under federal orders.
Surviving Spouses
Un-remarried surviving spouses of service members who died in the line of duty or from a service-connected disability may be eligible. Spouses of POWs or MIAs may also qualify.
Understanding the
Funding Fee
The VA funding fee is a one-time payment that helps offset the cost of the VA loan program to taxpayers. The fee varies based on your service category, down payment, and whether this is your first VA loan.
First-Time Use: 2.15% with No Down Payment
For first-time VA loan users putting nothing down, the funding fee is 2.15% of the loan amount. On a $400,000 loan, that is $8,600. This fee can be financed into the loan so you do not need to pay it out of pocket at closing.
Reduced Fee with Down Payment
Putting 5% down reduces the funding fee to 1.5%. With 10% or more down, it drops to just 1.25%. While a down payment is not required, it can significantly lower your total borrowing costs.
Subsequent Use: 3.3% with No Down Payment
If you have previously used your VA entitlement, the funding fee is 3.3% with no down payment. This higher fee for subsequent use can be lowered with a down payment just like first-time use.
Funding Fee Exemptions
Veterans receiving VA disability compensation are completely exempt from the funding fee. Purple Heart recipients on active duty are also exempt. This exemption saves thousands of dollars and makes the VA loan even more valuable for those who qualify.
Getting Your
COE
Your Certificate of Eligibility (COE) confirms to your lender that you qualify for the VA loan benefit. There are several ways to obtain your COE, and Theós Financial can help you through the process.
In many cases, we can pull your COE electronically in just minutes through the VA's automated system. If additional documentation is needed, we will walk you through exactly what is required based on your service history.
You Served Our Country.
Let Us Serve You.
At Theós Financial, we are proud to help veterans and service members access the home financing benefits they have earned. Let us guide you through the VA loan process and get you into the home you deserve.
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