VA Home Loan (Purchase Loan)

At a glance

Amount

No down payment required for eligible buyers when the price is at or below the appraised value

Type of help

Other help

Where

Nationwide

Run by

U.S. Department of Veterans Affairs, Loan Guaranty Service

First-time buyer

Repeat buyers welcome

Income limit

None

Homebuyer education

Not required

How the other help works

A special purchase path, discount, or loan type that lowers what you need at closing.

• Monthly payment: Yes

Who qualifies

• Repeat buyers welcome. You can use the VA loan more than once. Second and later uses carry a higher funding fee unless you are exempt.
• Income. No income cap. The lender qualifies you on credit, income, and debts under its own standards (checked 2026-09-23).
• Only for: active military, veterans.
• Property types: Single-family, Townhouse, Condo in a VA-approved project, 2 to 4 units if you live in one. Must be your primary residence.
• You need a Certificate of Eligibility (COE). For service since August 1990 veterans generally need 24 continuous months or the full period called up (at least 90 days). Current service members need 90 continuous days. Guard and Reserve need 90 days of Title 10 duty or six creditable years.
• Some surviving spouses qualify, including those receiving Dependency and Indemnity Compensation.
• You must live in the home as your primary residence.
• The home must pass a VA appraisal for value and minimum property condition.

How to apply

1. 1Request your Certificate of Eligibility on VA.gov or through your lender. Your lender needs it to confirm you qualify.
2. 2Pick a VA-approved lender. Rates and fees differ, so compare more than one. Ask about the funding fee and whether you are exempt.
3. 3Get pre-approved, then shop with an agent who knows how VA appraisals and seller concessions work.
4. 4Write the offer. Sellers can pay closing costs, and VA caps seller concessions at 4% of the home's reasonable value. Only the funding fee can be rolled into the loan on a purchase.
5. 5Complete the VA appraisal and inspection, review your Closing Disclosure at least three business days before closing, and close.

Watch out for

• No down payment is not no cash. Closing costs, prepaid taxes and insurance, and your earnest money still come out of pocket unless the seller or a grant covers them.
• The VA funding fee on a first-use purchase with less than 5% down was 2.15% of the loan amount as of the VA schedule effective April 7, 2023, and 3.3% on later uses. Veterans receiving service-connected disability compensation and some others are exempt.
• If you offer above the appraised value, you cover the gap in cash. Talk through appraisal strategy before you write a competitive offer.
• Condos must be in a VA-approved project. Check the approval list before you fall for a unit.
• VA loans can stack with many state and local down payment programs, including several in Maryland, DC, and Virginia, which can cover closing costs. Ask before you assume you must bring cash.

Straight answers

Sources

• VA, Purchase loan (read Sep 23, 2026)
• VA, Eligibility requirements for VA home loan programs (read Sep 23, 2026)
• VA, VA funding fee and loan closing costs (read Sep 23, 2026)
• VA, VA home loan process (buying) (read Sep 23, 2026)

Program details are summarized from public sources and change without notice. Funding badges reflect the last time we checked, not a guarantee of availability. This is buyer education from a real estate agent, not a loan pre-approval or a commitment to lend. Eligibility is decided by each program administrator and your lender. Equal Housing Opportunity.