VA Loans
Serving those who served our country with specialized mortgage options designed exclusively for veterans, active-duty service members, and eligible surviving spouses.
VA Loan Benefits
VA loans offer numerous advantages over conventional mortgages, making them an excellent choice for those who have served our country.
No Down Payment
Unlike conventional loans that require 3-20% down, VA loans offer 100% financing to qualified veterans.
No PMI Required
Save hundreds monthly by avoiding the private mortgage insurance required on other low-down-payment loans.
Lower Interest Rates
VA loans typically offer rates 0.5% to 1% lower than conventional loans due to government backing.
Limited Closing Costs
The VA restricts certain closing costs and allows sellers to cover all buyer closing costs.
No Prepayment Penalties
Pay off your VA loan early without any financial penalties or additional fees.
Lifetime Benefit
Your VA loan benefit never expires and can be used multiple times throughout your life.
VA Loan Eligibility
The Department of Veterans Affairs sets specific eligibility requirements for VA loans based on your length of service or your role as a surviving spouse.
Active Duty Service Members
- Must have served at least 90 consecutive days of active service during wartime
- Must have served at least 181 days of active service during peacetime
- Must have more than 6 years of service in the National Guard or Reserves
- Must be the spouse of a service member who died in the line of duty
Veterans
- Must have served at least 90 days of active duty during wartime
- Must have served at least 181 days of active duty during peacetime
- Must have served at least 6 years in the National Guard or Reserves
- Must have been discharged under conditions other than dishonorable
Surviving Spouses
- Spouse of a service member who died while on active duty
- Spouse of a veteran who died as a result of a service-connected disability
- Spouse of a service member who is MIA or a POW
- Must not have remarried in some circumstances
Certificate of Eligibility (COE)
To prove your eligibility for a VA loan, you need to obtain a Certificate of Eligibility (COE). We can help you obtain your COE as part of our service. The requirements for obtaining a COE vary based on your status as an active duty service member, veteran, or surviving spouse.
Service Time Requirements
The amount of time you need to have served varies based on when you served and whether it was during wartime or peacetime. We can help determine if you meet the service time requirements for VA loan eligibility.
The VA Loan Process
Securing a VA loan is straightforward when you understand the process. Here's what you can expect from application to closing.
Pre-Qualification
Begin your VA loan journey with a pre-qualification to understand how much home you can afford based on your income, credit, and service eligibility.
Find Your Home
With your pre-qualification in hand, work with a real estate agent to find a home that meets VA property requirements and fits within your budget.
Make An Offer
Once you've found your perfect home, work with your agent to make an offer and negotiate terms with the seller.
VA Appraisal
The VA requires an appraisal to ensure the home's value matches the purchase price and that it meets VA minimum property requirements.
Loan Processing
Once your offer is accepted, we'll process your loan application, verify your information, and prepare your file for underwriting.
Closing
After final approval, you'll sign your loan documents, pay any closing costs, and receive the keys to your new home.
VA Loans vs. Other Loan Types
See how VA loans compare to conventional and FHA loans on key features that matter most to homebuyers.
| Feature | VA Loan | Conventional Loan | FHA Loan |
|---|---|---|---|
| Down Payment | No down payment required | Typically 3-20% down payment | Minimum 3.5% down payment |
| Mortgage Insurance | No monthly mortgage insurance | Required with less than 20% down | Required regardless of down payment |
| Funding/Upfront Fee | VA funding fee (1.4-3.6%) | None | 1.75% upfront MIP |
| Credit Score Minimum | Typically 620+ (varies by lender) | 620-640+ for most lenders | 580+ for 3.5% down, 500+ for 10% down |
| Debt-to-Income Ratio | More flexible (often up to 60%) | Generally max 45-50% | Generally max 50-55% |
| Closing Costs | Seller can pay all closing costs | Seller contributions limited to 3-9% | Seller contributions limited to 6% |
The Bottom Line
VA loans offer unmatched benefits for eligible service members, veterans, and their families. With no down payment requirement, no private mortgage insurance, and competitive interest rates, VA loans are often the most cost-effective way for military personnel to achieve homeownership.
What Our Veterans Say
Hear from veterans and service members who achieved their homeownership dreams with VA loans.
After 15 years in the Marine Corps, I never thought I'd be able to afford a home in today's market. The VA loan program made it possible for my family to purchase our dream home with no down payment.
The VA loan process was much simpler than I expected. My loan officer guided me through every step and helped me secure a rate lower than I could have gotten with a conventional mortgage.
As an active duty service member who relocates frequently, I appreciated how quickly and efficiently my VA loan was processed. I was able to move my family into our new home before my next assignment.
Frequently Asked Questions
Get answers to common questions about VA loans, eligibility, and the application process.
What is the VA funding fee and how much is it?
The VA funding fee is a one-time payment that helps offset the cost of the VA loan program to taxpayers. The fee varies based on your down payment, service type, and whether this is your first or subsequent VA loan. First-time use with no down payment is typically 2.3% for regular military and 2.15% for Reserves/National Guard. The funding fee can be reduced with a down payment of 5% or more, and some veterans with service-connected disabilities may be exempt from the fee.
Can I use a VA loan more than once?
Yes, VA loan benefits are not a one-time opportunity. You can use your VA loan benefit multiple times as long as you pay off the previous VA loan first or, in some cases, you can have multiple VA loans at once if you have remaining entitlement. This is particularly useful for active-duty service members who may need to relocate frequently.
Do VA loans have income or credit score requirements?
While the VA itself doesn't set a minimum credit score, most lenders typically look for a credit score of at least 620. For income, there's no minimum requirement, but you must have stable, sufficient income to cover your mortgage payments and other financial obligations. The VA and lenders want to ensure you have the financial capacity to repay the loan.
What are the VA loan limits?
As of 2020, VA loan limits were eliminated for veterans with full entitlement. This means eligible veterans can borrow as much as a lender is willing to lend without a down payment, subject to the lender's requirements and your financial situation. However, veterans with reduced entitlement (due to an active VA loan or past default) are still subject to loan limits.
Can surviving spouses of veterans qualify for VA loans?
Yes, surviving spouses of veterans who died in service or from service-connected disabilities may be eligible for VA loan benefits. Also eligible are spouses of service members who are missing in action or prisoners of war. The spouse must obtain a Certificate of Eligibility (COE) to confirm eligibility.
What property types are eligible for VA loans?
VA loans can be used for single-family homes, condos in VA-approved developments, multi-unit properties (up to four units if the veteran lives in one unit), and manufactured homes that meet specific requirements. The property must be the veteran's primary residence, and it must meet VA minimum property requirements (MPRs) for safety, security, and structural soundness.
E Mortgage Capital, Inc. is a full-service mortgage company that offers extensive options for residential mortgages, with quick service and leading rates
E Mortgage Capital. Inc.
NMLS#: 1396861
915 Highland Pointe Dr, Roseville, CA 95678, USA
3401 Mallory Ln, Franklin, TN 37067, USA
18071 Fitch, Irvine, CA 92614, USA
Notice To Texas Loan Applicants: Consumers wishing to file a complaint against a mortgage banker, or a licensed mortgage banker residential mortgage loan originator, should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov.
A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at