VA FAQs
What is a VA mortgage? A VA mortgage is a home loan program designed for use by active duty US military personnel or honorably discharged veterans.
Do I qualify for a VA mortgage? If you are active military or were honorably discharged from either the National Guard or regular military, you are eligible for VA home loan benefits.
What is the VA entitlement? Entitlement is the veteran's right to eligibility for VA benefits.
How do I get my certificate of eligibility? The Certificate of Eligibility (COE) can be ordered by the borrower or the lender. If you would like to order your COE, you can use the request form. Or, we can do it for you in less than 24 hours.
What is the VA loan limit? The VA loan limit, assuming full eligibility, is $417,000. However, for a cash out refinance or a conventional to VA refinance, the limit is $144,000.
What is the VA funding fee? The VA funding fee is applied to insure the loan in lieu of mortgage insurance. VA loans do not carry mortgage insurance because VA guarantees the loan and charges the funding fee for this reason. Use our tables to the left to calculate your funding fee.
Can I buy an investment property with a VA loan? The VA program is only for owner-occupied primary residences. You cannot buy an investment property using VA financing.
If I am overseas on active duty, can my spouse occupy the home and satisfy the occupancy requirement? Yes, if your spouse occupies the home, you have satisfied VA's primary residence occupancy requirement
Can I obtain a VA loan if I have a bankruptcy in my past? Yes, if you have re-established credit with a clean pay history over the past 12 months and the bankruptcy is more than 2 years old, you may qualify for a VA loan.
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