In short
A VA loan is a mortgage partly backed by the U.S. Department of Veterans Affairs for eligible veterans, service members and certain surviving spouses. It can allow a primary-home purchase with no down payment and no monthly mortgage insurance, subject to eligibility and lender approval.
Reviewed by Kelham and Dave Brown, NMLS #1824866 Kelham | 314516 Dave · Last updated October 19, 2026
What is a VA loan and who can use one?
A VA loan is a mortgage made by an approved lender and partly backed by the U.S. Department of Veterans Affairs. It's available to eligible veterans, active-duty service members, qualifying National Guard and Reserve members, and certain surviving spouses. For eligible borrowers, it can allow a home purchase with no down payment and no monthly mortgage insurance. Eligibility starts with your Certificate of Eligibility (COE), which confirms your service, and you still need to meet the lender's credit, income and property requirements. We help you request your COE, review your entitlement and show you exactly where you stand before you start shopping.
Key takeaways
If you've served, the VA home loan is one of the benefits you earned, and it deserves to be explained clearly. At Brown Mortgage Group, we walk veterans, active-duty service members and eligible surviving spouses through how the program works, what it costs and where it fits next to your other options. Our job is to help you understand your options and build a plan that fits your goals, whether you're relocating on orders, transitioning out of service or putting down roots in Frisco, TX.
A Benefit Worth Understanding Fully
The VA home loan exists because of your service, and we treat it that way. Too many veterans either don't realize they're eligible or don't fully understand how the benefit works, so they leave it on the table or use it without a clear plan. Our approach is simple: give you more information than you knew you needed, explain every term in plain English, and help you make informed decisions about whether a VA loan is the right fit for this purchase.
What Makes a VA Loan Different
- No down payment required for eligible borrowers. A VA loan can allow zero down within your available entitlement. You'll still plan for closing costs and reserves.
- No monthly mortgage insurance. Many low-down-payment loans add a monthly mortgage insurance charge. VA loans don't, which can make a real difference in your monthly payment.
- Limits on certain borrower fees. The VA restricts some of the closing costs a veteran can be charged, which helps keep the transaction fair.
- No prepayment penalty. You can pay extra or pay the loan off early without a penalty.
- A reusable benefit. Your VA entitlement can be used more than once over your lifetime, depending on how much is available.
On pricing: Your rate depends on your scenario and the day's market. Reach out and we'll price it for real.
Who May Be Eligible
Eligibility is based on your service history and is confirmed by the VA, not by us. In general, the program serves:
- Veterans who meet minimum service requirements
- Active-duty service members who have served a qualifying period
- National Guard and Reserve members who meet service thresholds
- Certain surviving spouses
Your Certificate of Eligibility (COE) is the document that confirms it. We can help you request it so it's in hand early, before it becomes a hold-up in the middle of a purchase.
The VA Funding Fee, Explained
Most VA loans include a one-time funding fee, which helps keep the program available for future veterans. It's a percentage of the loan amount, and that percentage depends on things like whether this is your first use of the benefit and whether you put money down. Most borrowers choose to roll it into the loan instead of paying it at closing.
Some borrowers are exempt, including many veterans who receive compensation for a service-connected disability and certain surviving spouses. We'll confirm your fee or exemption up front so there are no surprises later.
Know the Trade-Offs, Too
A VA loan is a strong option, but it isn't automatically the right one for every situation. The home must be your primary residence and must meet the VA's minimum property requirements, which the VA appraisal checks. Putting nothing down also means borrowing more and starting with less equity. Depending on your savings, your plans and how long you expect to stay, a conventional loan may be worth comparing side by side. We'll lay out both so you can see the full picture.
How We Work With Military Families
Our family relocated from Indiana to Dallas, so we understand what it's like to move a household, learn a new market and try to buy a home on a timeline you don't fully control. For military buyers, PCS orders and transition dates add another layer. Here's how we keep it organized:
- Confirm eligibility. We help you request or review your COE and check your available entitlement.
- Build your plan. We review your credit, income, savings and goals, and show you what a comfortable payment looks like.
- Compare your options. We have access to a wide network of lenders, which lets us compare options for your scenario, including VA alongside other loan types when it makes sense.
- Shop with a clear budget. You and your agent search knowing what fits.
- Appraisal and underwriting. We manage the VA appraisal, the property requirements and underwriting, and keep you updated with clear communication at each step.
- Close with confidence. You review your final numbers before you sign, so you know exactly what you're agreeing to.
We offer face-to-face consultations in Frisco, TX or virtual meetings if you're still stationed somewhere else. Either way, you'll know who's working on your file and how to reach us.
Let's Talk About Your Benefit
Homeownership is about more than a mortgage. It's about giving your family stability after years of moving when the service asked you to. If you'd like to understand your VA options and move forward with confidence, reach out and we'll start with your eligibility and your goals.
All examples on this page are for general education and illustration only. They are not an offer to lend or a commitment to specific terms, rates or fees. VA eligibility, entitlement, funding fees and property requirements are set by VA guidelines and depend on your individual qualifications. Contact our team for details specific to your situation.
Quick facts
- Loan type
- Government-backed (VA)
- Eligibility
- Eligible veterans, service members, some surviving spouses
- Down payment
- $0 possible for eligible borrowers within entitlement
- Monthly mortgage insurance
- None
- VA funding fee
- One-time; some borrowers are exempt
- Occupancy
- Primary residence
Is this loan right for you?
Who it's for
- Eligible veterans and active-duty service members buying a primary residence
- National Guard and Reserve members who meet VA service requirements
- Certain surviving spouses of service members
- Military families relocating on PCS orders or transitioning out of service
- Eligible buyers who want to keep more savings in reserve instead of making a large down payment
Who it may not fit
- Buyers who don't have VA eligibility
- Anyone purchasing a second home or investment property they won't live in
- Properties that are unlikely to meet VA minimum property requirements without significant repairs
- Eligible buyers with substantial savings who may come out ahead comparing a conventional loan
Pros and cons
Pros
- No down payment required for eligible borrowers within available entitlement
- No monthly mortgage insurance
- VA limits on certain fees charged to the borrower
- No prepayment penalty
- A benefit you can use more than once over your lifetime
Trade-offs to weigh
- Most borrowers pay a one-time funding fee unless they qualify for an exemption
- The home must meet VA minimum property requirements
- Limited to primary residences
- Putting little or nothing down means borrowing more and starting with less equity
Frequently asked questions
Do I have to put money down on a VA loan?
Not necessarily. For eligible borrowers within their available entitlement, a VA loan can allow a purchase with no down payment. You'll still want funds for closing costs and some reserves, and choosing to put money down can lower your funding fee. We'll show you both scenarios so you can decide what makes sense.
How do I get my Certificate of Eligibility (COE)?
The COE comes from the VA and confirms that your service meets program requirements. It can be requested online through the VA or through a lender. We regularly help clients request theirs early in the process so it doesn't slow down an offer or a closing.
What is the VA funding fee, and will I have to pay it?
The funding fee is a one-time charge that supports the VA loan program. It's a percentage of the loan amount that depends on factors like prior use of the benefit and your down payment, and it can usually be rolled into the loan. Many veterans who receive compensation for a service-connected disability, along with certain surviving spouses, are exempt. We'll confirm your situation before you commit to anything.
Can I use my VA benefit more than once?
Yes. VA entitlement is reusable over your lifetime. In some cases you can restore it after selling a home and paying off a VA loan, and in others you may have remaining entitlement available while a prior VA loan is still open. We'll review your entitlement and explain what's available to you.
Are VA loans available to National Guard and Reserve members?
Often, yes, as long as you meet the VA's service requirements. Eligibility depends on the length and type of your service, and your COE will reflect it. If you're unsure, reach out and we'll help you find out where you stand.
Is a VA loan always the right choice if I'm eligible?
Not always. A VA loan is a strong option for many eligible buyers, but depending on your savings, your plans for the home and how long you expect to stay, another loan type may be worth comparing. We'll walk through the costs of each so you can make an informed decision.
What interest rate can I expect on a VA loan?
Your rate depends on your scenario and the day's market. Reach out and we'll price it for real.
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Last updated October 19, 2026 · Reviewed by Kelham and Dave Brown, NMLS #1824866 Kelham | 314516 Dave. This page is educational and not a commitment to lend; program details change — ask for current figures.