Quick answer
- Who it may fit
- Eligible service members, veterans and certain surviving spouses buying a primary home.
- Down payment & cash to close
- Eligible borrowers with available entitlement may qualify with no down payment; closing costs still apply.
- Insurance & fees
- No monthly mortgage insurance; a funding fee may apply unless exempt, along with closing costs. In Compare loan offers, enter 0 for mortgage insurance. If the funding fee is financed, include it in the loan amount; an upfront fee and full cash-to-close costs are not added automatically. Confirm an actual quote.
- Key eligibility
- Service, entitlement, occupancy, appraisal and lender requirements must be met.
- Main tradeoff
- No-down-payment access still leaves a loan balance and possible funding fee to compare.
Down payment is not total cash to close. Educational guidance pending licensed review.
Sources: VA: purchase loans · VA: funding fee and closing costs
The secure application opens outside lndwell.com. This page is not an application or pre-approval.
VA loans are guaranteed by the Department of Veterans Affairs for eligible service members, veterans and certain surviving spouses. The guaranty allows lenders to offer terms that are difficult to find elsewhere. We treat a VA file as its own discipline, because the details matter.
- Active-duty service members and veterans with entitlement available
- Certain surviving spouses who meet VA eligibility rules
- Eligible borrowers who want to keep more cash on hand at closing
- No monthly mortgage insurance requirement
- Down-payment requirements are typically lower than comparable programs, and may not apply at all
- Interest-rate reduction refinance options may be available to existing VA borrowers
- Entitlement can often be restored and reused
- A VA funding fee usually applies, though exemptions exist for certain borrowers
- Occupancy requirements apply — the program is not for investment property
- The property must satisfy VA appraisal and condition requirements
- Available entitlement affects loan sizing on some files
These are the factors an underwriter typically reviews. They are not a checklist of requirements, and meeting them does not guarantee eligibility or approval.
- A valid Certificate of Eligibility
- Service requirements as defined by the VA
- Credit, income and residual-income review
- Owner-occupancy of the subject property
- An eligible property meeting VA appraisal standards
All loans are subject to credit, income, property and underwriting approval. Nothing on this page is a loan offer, an approval, a rate lock or a commitment to lend. Programs, rates and terms are subject to change without notice.