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.
Written by the FLO Mortgage team · Licensed mortgage broker, NMLS #1835856 · Updated October 2026
★★★★★ 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
Your VA loan headquarters
Everything veterans, service members and surviving spouses need to buy or refinance with confidence, in one place.
49 plain-English answers on eligibility, credit, the funding fee, appraisals, condos and more. Search by keyword.
Find your answer → ToolsVA calculatorsCheck eligibility, estimate your funding fee, test your budget against residual income rules and see your entitlement.
Run the numbers → RoadmapCOE to keys in 8 stepsWhat happens at each stage, the documents you'll need and what the VA appraiser checks.
See the roadmap →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. Licensing & Disclosures.
VA loan guides
Go deeper on VA loans
- VA loans for first-time buyers: Why VA is a strong first-home option.
- VA loans for active duty: PCS moves, BAH and deployments.
- VA loans for Guard and Reserve: Eligibility and documents.
- VA appraisals: Minimum Property Requirements and Tidewater.
- VA closing costs: Seller concessions, the 1% rule and gift funds.
- VA occupancy rules: Moving in, deployments and renting later.
- VA entitlement: Second VA loans and restoration.
- Assumable VA loans: Taking over a seller's VA loan.
- VA condos and property types: Condos, multi-unit and manufactured homes.
- VA manual underwriting: Second looks after a denial.
- Disabled veteran property tax exemptions: Compare all six of our states.
- VA loan questions, answered: 49 plain-English answers, searchable by topic.
- VA loan tools and calculators: eligibility, funding fee, residual income and entitlement.
- VA home buying roadmap: eight steps from COE to keys.
- VA streamline refinance (IRRRL): Lower the rate on your current VA loan with less paperwork.
- VA cash-out refinance: Refinance any loan into VA and access your equity.
- VA funding fee exemption: See who pays no funding fee and how refunds work.
- VA loans for surviving spouses: Eligibility, the remarriage rule and how to get a COE.
- VA residual income explained: The VA's affordability test and 2026 minimums.
- VA loans after bankruptcy or foreclosure: Typical waiting periods and how to prepare.
VA loans by state: Florida · Georgia · Michigan · North Carolina · Tennessee · Texas
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
Compare Loan Programs
See conventional, FHA and VA side by side and find the best fit.
Learn more →🔑FHA Loans
Low down payment and flexible credit guidelines for primary residences.
Learn more →🔄Refinance
Lower your payment, change your term or tap your equity.
Learn more →Not sure what a term means? Browse our mortgage glossary →
Ready to see your numbers?
Answer a few quick questions and a local loan officer will follow up with your options.