Loan Options • VA Home Loan
VA home loans
VA loans are guaranteed by the U.S. Department of Veterans Affairs and are one of the strongest benefits available to those who have served.
★★★★★ 5.0 on Google from 160+ clients | Company NMLS #1835856
At a glance
- No VA minimum credit score
- No VA maximum debt-to-income ratio
- For eligible veterans, active duty, National Guard and Reserve members
- Eligible surviving spouses may also qualify
- No private mortgage insurance
- Purchase, cash-out and IRRRL streamline refinance options
Talk with a licensed loan officer
Search our VA guides, tools and loan officer answers.
Buying a condo? Find out if VA has approved the building before you make an offer.
Is your condo VA-approved?
You can use a VA loan on a condo if VA has accepted the condo project. If the project isn't on VA's list, someone has to submit it to VA for review before closing, and that adds time. Ask before you make an offer.
- On VA's page, pick the state.
- Search the condo association's name.
Not listed? The project can still go to VA for review. Read our VA condo guide. Buying in Florida? See condo special assessments.
Start here
What brings you here?
Pick the one that fits you. Each choice opens a short reading list from our VA guides, in the order we'd read them.
Your first VA home, in five steps
New to VA loans? Read VA loans for first-time buyers first. These five steps match the "VA loan path" bar at the top of each guide.
- Am I eligible for a VA loan? Check your service time and discharge, and see which papers get you a COE.
- VA entitlement: what VA guarantees for you. Then run the entitlement calculator.
- VA funding fee exemption: see if your rating or status waives the fee. Then try the funding fee calculator.
- VA home buying roadmap: offer to closing, with the VA appraisal and closing costs.
- Your state: Florida, Georgia, Michigan, North Carolina, Tennessee or Texas.
Tools
Run your own numbers
Am I eligible?
Check VA's service and discharge rules and see which papers your COE needs.
Open the walkthrough →
Funding fee calculator
Estimate your fee by loan type, prior use and down payment, or check if you're exempt.
Open the calculator →
Remaining entitlement calculator
See how much entitlement you have left after an earlier VA loan.
Open the calculator →
IRRRL recoupment calculator
Test a streamline refinance against VA's 36-month recoupment rule.
Open the calculator →
Ask a Loan Officer
Questions veterans asked us
Real questions from veterans and service members. Answered by FLO Mortgage. Reviewed by Joy McCoy Flores, Broker Owner, NMLS #1096400, on October 22, 2026.
Can I have two VA loans at the same time?
Yes, if you have enough remaining entitlement. Entitlement is the part of the loan VA guarantees. When you keep a home you bought with a VA loan, some of your entitlement stays tied to it.
VA's loan limits page shows the math: take 25% of the one-unit conforming loan limit for the county where you're buying, then subtract the entitlement you already used. If what's left doesn't cover 25% of the new loan, plan on a down payment for the gap. You still have to move into the new home as your primary residence. A common case: you get PCS orders, rent out your first home and buy near the new duty station. Your Certificate of Eligibility shows how much entitlement you have used and what remains.
Answered by FLO Mortgage. Related guide: VA entitlement and second VA loans
Can I get a VA loan after a bankruptcy or foreclosure?
It's possible. Chapter 4 of the VA Lenders Handbook lets the underwriter disregard a Chapter 7 bankruptcy discharged more than two years before closing. Between one and two years, you need new credit paid on time and a cause outside your control, such as job loss or medical bills. In a Chapter 13, the underwriter can consider you after 12 months of on-time plan payments if the trustee or judge approves. A foreclosure, short sale or deed in lieu finalized more than two years before closing can also be disregarded.
If a VA loan ended in foreclosure, short sale or deed in lieu, VA says you repay its loss to restore that entitlement. Keep your discharge papers and any letters that explain the hardship.
Answered by FLO Mortgage. Related guide: VA loans after bankruptcy or foreclosure
If someone assumes my VA loan, do I get my entitlement back?
Only if the buyer is an eligible veteran who substitutes their entitlement for yours. That buyer needs at least as much entitlement as you used, must plan to live in the home and files VA Form 26-8106. Once VA approves the substitution and releases you from liability, VA restores your entitlement.
If a non-veteran assumes the loan, or a veteran who doesn't substitute, your entitlement stays tied to that loan until someone pays it off. A release of liability alone doesn't restore it. VA lists the ways to restore entitlement on its eligibility page. If you plan to buy again with a VA loan, write the substitution requirement into your sales contract.
Answered by FLO Mortgage. Related guide: Assumable VA loans
Can I buy a duplex, triplex or fourplex with a VA loan and count the rent?
VA lets you buy a home with up to four units as long as you live in one of them. Counting the rent from the other units is harder.
Chapter 4 of the VA Lenders Handbook lets an underwriter add the expected rent to your income only when you meet two tests. You need a reasonable chance of success as a landlord, shown by past experience managing rentals or a property management company you'll hire. You also need cash reserves equal to at least six months of mortgage payments, including taxes and insurance. If you can't meet both tests, your own income has to cover the payment without the rent. Each unit also has to meet VA's minimum property requirements.
Answered by FLO Mortgage. Related guide: VA occupancy rules
Have a question we haven't answered? Send it to a licensed FLO Mortgage loan officer and get a reply by email.
Why veterans choose FLO Mortgage
A local team that knows VA loans, shops your file and picks up the phone.
We shop VA lenders for you
As a mortgage broker, we compare VA-approved wholesale lenders and look for one whose guidelines fit your file.
Second opinions welcome
The VA has no minimum credit score and no maximum debt-to-income ratio. If another lender said no, let us take a look.
Real people who answer
Our team is in Flagler Beach. Call (386) 882-9980 and talk to someone who knows your file.
Based on official VA rules
Our VA guides follow the VA's current lending guidelines, explained in plain English.
5.0 on Google
Rated 5.0 on Google by more than 160 clients who have worked with our team.
Six states, one team
We help VA buyers in Florida, Georgia, Michigan, North Carolina, Tennessee and Texas.
Turned down somewhere else?
Credit or debt-to-income holding you back? Get a second opinion.
Credit
No VA minimum credit score
The VA does not set a minimum credit score. Lenders set their own, and we look at your whole financial picture, not just a number. If your score has held you back somewhere else, it is worth a second look with us.
Debt-to-income
The VA has no maximum DTI
If another lender told you your debt-to-income ratio is too high, you may simply need a different lender. VA approvals are driven by automated underwriting findings and the VA residual income test, so strong residual income can offset a higher ratio.
Lender credit requirements vary. All loans are subject to credit approval, underwriting guidelines and program availability. Not all applicants will qualify.
Is it right for you?
Who a VA loan is for
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs. The guaranty protects the lender, which is why eligible borrowers can buy with no down payment and no monthly mortgage insurance. It is one of the most valuable benefits earned through military service, and it can be used more than once.
You may be eligible if you are a veteran, an active-duty service member, a current or former member of the National Guard or Reserves who meets service requirements, or the surviving spouse of a service member or veteran. Eligibility is confirmed with a Certificate of Eligibility (COE), which FLO Mortgage can usually request for you online.
VA loan requirements in plain English
Service eligibility
Eligibility depends on when and how long you served and your discharge character. Your COE spells out your entitlement, the amount the VA will guarantee on your behalf.
Entitlement and loan limits
With full entitlement, the VA sets no cap on how much you can borrow without a down payment; you still need to qualify for the payment. If you have an existing VA loan or entitlement that has not been restored, the county conforming limit is used to figure out whether a down payment is needed.
Income and residual income
Beyond debt-to-income ratio, VA underwriting checks residual income, the money left each month after your mortgage, debts and estimated living costs. It is a practical test of whether the payment fits real life, and it is a big reason VA loans perform so well.
The property
The home must be your primary residence. You can buy a single-family home, a VA-approved condo, a townhome, or a 2 to 4 unit property if you live in one unit. A VA appraisal confirms value and checks the home against VA minimum property requirements.
The VA funding fee
Instead of mortgage insurance, most VA borrowers pay a one-time funding fee that helps keep the program running. It can be financed into the loan. For a purchase loan, the fee is:
- First use: 2.15% with less than 5% down, 1.5% with 5% or more down, 1.25% with 10% or more down
- Subsequent use: 3.3% with less than 5% down, 1.5% with 5% or more down, 1.25% with 10% or more down
The VA also limits some of the fees a veteran can be charged, and sellers can contribute toward closing costs and concessions, which can make the cash needed to close very low.
VA loan pros and cons
Advantages
- No down payment with full entitlement
- No monthly mortgage insurance
- Competitive interest rates
- Funding fee waived for many disabled veterans
- Benefit can be reused
- Streamlined refinance (IRRRL) option later
Trade-offs
- Funding fee for non-exempt borrowers
- Primary residences only
- Property must meet VA minimum requirements
- Requires service eligibility and a COE
Local VA loan help
Talk to a FLO Mortgage loan officer
Every FLO loan officer helps veterans, service members and military families with VA loans. Have a question these guides don't answer? Ask our team.
Compare loan programs
How this loan compares
Switch between programs to see how down payment, credit, mortgage insurance and loan limits stack up side by side.
| Feature | Conventional | FHA | VA |
|---|---|---|---|
| Minimum down payment | 3% for eligible buyers; 5% is common | 3.5% with a 580+ score; 10% with 500 to 579 | 0% with full entitlement |
| Credit profile | Underwriting reviews your full credit picture; higher scores earn better pricing | Designed for credit flexibility; lender minimums apply | No minimum set by the VA; lender minimums apply |
| Mortgage insurance | PMI when you put down less than 20% | Upfront MIP of 1.75% plus annual MIP (0.55% for most 30-year loans) | No monthly mortgage insurance |
| Can mortgage insurance end? | Yes. Request removal at 80% loan-to-value; it ends automatically at 78% | Only after 11 years if you put down 10% or more; otherwise it lasts for the life of the loan unless you refinance | Not applicable |
| Upfront program fee | None | 1.75% upfront MIP (can be financed) | Funding fee of 1.25% to 3.3% (waived for many disabled veterans) |
| 2026 loan limit (1 unit) | $832,750 baseline; up to $1,249,125 in high-cost areas | $541,287 to $1,249,125 depending on county | No VA loan limit with full entitlement |
| Property types | Primary homes, second homes and investment properties | Primary residence, 1 to 4 units | Primary residence, 1 to 4 units |
| Who can apply | Any qualified borrower | Any qualified borrower who will live in the home | Eligible veterans, service members and surviving spouses with a Certificate of Eligibility |
| Gift funds for down payment | Allowed with documentation | Allowed from eligible donors, such as family | Allowed (often not needed with $0 down) |
★ marks the program with the edge on that feature.
*Figures reflect 2026 program guidelines from FHFA, HUD and the Department of Veterans Affairs and are for educational purposes only. This is not a commitment to lend or an offer of specific terms. All loans are subject to credit approval, underwriting guidelines, property eligibility and program availability, and lender requirements may be stricter than program minimums. Not all applicants will qualify. FLO Mortgage, Company NMLS #1835856. Equal Housing Opportunity.
FAQ
VA loan questions, answered
Who is eligible for a VA home loan?
Veterans, active-duty service members, National Guard and Reserve members who meet service requirements, and certain surviving spouses may be eligible. Eligibility is confirmed with a Certificate of Eligibility (COE) from the Department of Veterans Affairs.
Do VA loans really require no down payment?
Yes. Borrowers with full VA entitlement can buy with no down payment as long as they qualify for the loan. If part of your entitlement is already in use, a down payment may be needed on larger loan amounts.
What credit score do I need for a VA loan?
The VA does not set a minimum credit score. Lenders set their own minimums and review your full credit history, income and residual income. A FLO loan officer can tell you what applies to your situation.
Do VA loans have mortgage insurance?
No. VA loans do not have monthly private mortgage insurance or an annual mortgage insurance premium. Most borrowers instead pay a one-time VA funding fee, which can be financed into the loan.
How much is the VA funding fee?
For a first-time purchase with less than 5% down, the VA funding fee is 2.15% of the loan amount. It drops to 1.5% with 5% down and 1.25% with 10% down. Subsequent use with less than 5% down is 3.3%.
Who is exempt from the VA funding fee?
Veterans receiving VA compensation for a service-connected disability, surviving spouses receiving Dependency and Indemnity Compensation, and certain active-duty service members, such as Purple Heart recipients, are exempt from the funding fee.
Is there a VA loan limit in 2026?
There is no VA loan limit for borrowers with full entitlement. If you have remaining entitlement only, the county conforming loan limit, $832,750 for a one-unit home in most areas in 2026, is used to determine whether a down payment is needed.
Can I use my VA loan benefit more than once?
Yes. VA entitlement can be restored after a VA loan is paid off, and in some cases you can have more than one VA loan at a time. Subsequent use may carry a higher funding fee unless you are exempt.
Is there a maximum debt-to-income ratio for VA loans?
No. The VA does not set a maximum debt-to-income ratio. The 41% figure is a guideline that triggers a closer look, not a cap. Approval is driven by the automated underwriting findings and the VA residual income test, so strong residual income can offset a higher ratio. If another lender told you your DTI was too high, get a second opinion.
This is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, property eligibility and program availability. Lender requirements may be stricter than the program minimums described here. Not all applicants will qualify. Figures reflect 2026 program guidelines and may change without notice. FLO Mortgage is licensed in Florida, Georgia, Michigan, North Carolina, Tennessee and Texas. Company NMLS #1835856. Equal Housing Opportunity. FLO Mortgage is not affiliated with or endorsed by the U.S. Department of Veterans Affairs or any government agency. Licensing & Disclosures.
VA loan guides
Browse all VA guides
Eligibility and who qualifies
Entitlement, fees and costs
Buying and the property
Local, licensed help
Talk a VA loan through with a FLO loan officer
Every FLO Mortgage loan officer can walk you through this program, run the numbers for your situation and compare it with your other options. Have questions? Call our main office at (386) 882-9980.
Related loan options
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See conventional, FHA and VA side by side and find the best fit.
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Low down payment and flexible credit guidelines for primary residences.
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