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Frequently Asked Questions

If you are looking to purchase a home with no money down, you're in luck if you qualify. VA mortgage loans can be guaranteed with no money down in most cases up to $453,100. As an added bonus, VA Loans have no private mortgage insurance requirement and there are even options for those looking to refinance.

To help guide you through this process, we have outlined some of the most frequently asked, and most important, questions below.

VA Loan Questions

  1. FAQs Index
  2. What is a VA loan?
  3. Is using my VA loan eligibility a good idea?
  4. What can I buy with a VA home loan?
  5. What is the maximum amount I can borrow with a VA home loan?
  6. What can be done when both husband and wife are eligible?
  7. I am a veteran who purchased a home with my spouse utilizing my VA eligibility. I am now divorced and my spouse was awarded the home. How do I get my eligibility back?
  8. I heard the VA has an inventory of foreclosed homes. How can I find out more about this?
  9. What role does the VA play in helping me get a loan?
  10. Do I have to take a fixed rate VA loan?
  11. Should I get a pre-approved loan?
  12. How do I get proof of eligibility?
  13. I don't have an honorable discharge, am I automatically disqualified from VA loan eligibility?
  14. What if I can't find my DD214 form?
  15. Is it possible to use my VA eligibility more than once?
  16. What is the one-time exception for renewing VA eligibility?
  17. Can I get eligibility for another VA loan even though I am still working on the first one?
  18. Can I use my VA loan to buy a rental property?
  19. What happens if I file bankruptcy and wish to buy another home at some point?
  20. How is my VA home loan eligibility determined?
  21. Can I get a home equity refinance with the VA?
  22. Am I limited to buying an existing home with a VA loan?
  23. Are there fees associated with my VA home loan?
  24. Who is exempt from paying the VA funding fee?
  25. Can I bring on a co-signer on my VA home loan?
  26. How does the Veterans Benefits Act change my loan process and entitlements?
  27. Can the VA help if I think I may be encountering discrimination in my search for a home?
  28. Can I use a VA loan to buy a reposessed house?
  29. How can I help myself before applying for a VA home loan?
  30. What help does the VA offer in the homebuying process?
  31. Will the VA help if my property is poorly built or defective?
  32. Can I buy a farm with a VA loan?
  33. Can I make a home purchase outside of the US?
  34. What if I die before paying off my VA loan?
  35. Once I sell my property, am I released from my VA loan obligation?
  36. What happens if my mortgage is sold to another mortgage company?

« Back to FAQs

Compare Top VA Purchase Lenders

Take the guesswork out of finding a VA Loan provider. Veterans United Home Loans created this site to educate and empower military homebuyers. Regardless of what lender you pick, it's always a good idea to compare and know your options.

  • NMLS #1907
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    • Veterans United ranks No. 1 in Customer Ratings for VA purchase lenders, according to ratings and reviews collected by TrustPilot.
    • In 2017, Veterans United closed 37,696 VA Purchase Loans, which was 9% of all VA Purchase Loans closed nationwide last year.
    • VA Loans were 97% of the company’s total loan volume.
  • NMLS #401058
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    • USAA ranks No. 5 in Customer Ratings for VA purchase lenders, according to ratings and reviews collected by TrustPilot.
    • In 2017, USAA closed 29,781 VA Purchase Loans, which was 8% of all VA Purchase Loans closed nationwide last year.
    • VA Loans were 70% of the company’s total loan volume.
  • NMLS #399807
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    • Navy Federal ranks No. 3 in Customer Ratings for VA purchase lenders, according to ratings and reviews collected by TrustPilot.
    • In 2017, Navy Federal closed 17,613 VA Purchase Loans, which was 5% of all VA Purchase Loans closed nationwide last year.
    • VA Loans were 48% of the company’s total loan volume.
  • Customer Ratings: Customer Ratings based on ratings and reviews provided by TrustPilot. VALoans.com is not affiliated with TrustPilot and has no control or influence on how users rate each lender.
  • 2017 VA Loans: Total VA loan volume for fiscal year 2017 as reported by the Department of Veterans Affairs (VA Home Purchase, VA Interest Rate Reduction Refinance, VA Cash-Out Refinance).
  • % VA Volume: Percentage of lender's total loan volume which is comprised of VA Loans, determined from Product Mix data found under Lender Search located here.