EligibilityVA entitlement required
OccupancyPrimary residence
FeeFunding fee may apply
Who this program may fit
- Eligible veterans and service members
- Certain eligible surviving spouses
- Primary-residence purchases and eligible refinances
Potential benefits
- May offer zero-down financing for eligible borrowers
- No monthly private mortgage insurance requirement under the VA program
- Flexible program features may be available
- Seller-paid costs and concessions are governed by program rules
Important considerations
- Certificate of Eligibility and program eligibility are required
- A VA funding fee may apply unless an exemption is available
- Property must meet applicable VA requirements
- Lender overlays and underwriting standards may apply
What a review may include
A mortgage review commonly considers income, employment, assets, credit history, monthly obligations, occupancy, property type, purchase price or value, available funds, and applicable program requirements.
Educational information only. This page does not describe every guideline and is not a loan approval, rate quote, or commitment to lend. Program terms and availability vary.