The VA loan is the single best-priced mortgage in America — and it exists exclusively for the people who served. If you're a veteran, active duty, National Guard, Reserves, or a surviving spouse with entitlement, this loan was written for you. Nothing else in the market gets you into a home for zero down without monthly mortgage insurance.
This isn't a "promo rate" or a first-time-buyer program. It's a permanent, congressionally-backed benefit — and you can use it more than once.
Zero down on the full purchase price up to the county loan limit. No secondary financing required.
The VA charges no monthly mortgage insurance. Conventional 5%-down buyers pay this every month — you don't.
Restored when you sell and pay off. Use it more than once — a second home, a move-up, a downsize.
Waived entirely for veterans with a service-connected disability rating and for Purple Heart recipients.
Eligibility runs off your Certificate of Eligibility (COE). I'll pull it for you at the start of the call — takes about a minute.
90 continuous days of active service during wartime, or 181 days during peacetime, generally qualifies.
Honorable or general-under-honorable discharge. Length-of-service requirements vary by enlistment date.
6 years of creditable service typically qualifies, or 90 days of active-duty deployment.
Un-remarried spouses of service members who died in the line of duty or from a service-connected disability.
Some Public Health Service officers, NOAA officers, and select others with qualifying federal service.
Already used your VA loan once? Your entitlement restores when the first loan is paid off. You can also use it again with remaining entitlement.
The VA doesn't lend the money — I do, and the VA guarantees a portion of the loan against default. That guarantee is what lets the loan run at 0% down with no PMI. Here's the sequence.
Certificate of Eligibility confirms your entitlement. I request it directly from the VA — you don't have to.
Standard credit + income + assets — same as any loan. No tax-return gymnastics required for W-2 borrowers.
The property is appraised by a VA-approved appraiser to confirm value and habitability standards (roof, systems, safety).
30-45 days typical. Funding fee is rolled into the loan (or waived, if you're rated disabled). No PMI ever.
Every scenario is different — these are the typical guardrails. When you call, I'll tell you exactly where you sit on each line.
| Guideline | Purchase | Refinance |
|---|---|---|
| Down payment | 0% required (up to county limit) | N/A — up to 100% LTV rate/term · 90% cash-out |
| Minimum FICO | 580 typical · 500-579 case-by-case with compensating factors | 580 typical |
| Mortgage insurance | None (ever) | None |
| Funding fee | 2.15% first use · 3.3% subsequent · waived for disability | 2.15% cash-out · 0.5% IRRRL streamline · waived for disability |
| Loan limits | No cap with full entitlement · county limit applies to partial-entitlement | Same |
| DTI | Up to 60% w/ strong residual income | Same |
| Occupancy | Primary residence only (must occupy within 60 days) | Primary — IRRRL exception if previously occupied |
| Property types | 1-4 family · VA-approved condo · manufactured (case-by-case) | Same |
| Terms | 30-yr & 15-yr fixed · 5/1 ARM | Same · IRRRL streamline available |
The funding fee is a one-time charge that keeps the VA loan program self-sustaining (it replaces mortgage insurance). It's 2.15% of the loan amount for first-time use, 3.3% for subsequent use. Yes — you can roll it directly into the loan so you owe zero at closing. If you have a VA-rated service-connected disability, the fee is waived entirely.
Yes. When you sell the home and pay off the loan, your entitlement is restored and you can use it again — as many times as you want over your lifetime. You can also use remaining entitlement to hold two VA loans simultaneously in certain relocation scenarios.
No — this is a common misconception. The VA loan has nothing to do with first-time status. It's an earned benefit tied to your service, usable at any point in life.
The Interest Rate Reduction Refinance Loan is the VA's streamline refinance. If you already have a VA loan and rates drop, you can refi with minimal paperwork, no appraisal in most cases, no income re-verification, and a lower funding fee (0.5%). One of the fastest, cleanest refis in the market.
If you have full entitlement, there is no cap — you can buy up to what your income supports. Partial entitlement (from a prior unpaid VA loan) is subject to the county conforming loan limit.
Yes — 1-4 unit properties are eligible, as long as you occupy one of the units as your primary residence. The rental income from the other units can help you qualify.
Licensed across New York State — with deep roots in the Capital Region and select NYC neighborhoods.
Don't see your town? Reach out — I lend statewide. Or see every Capital Region town.