VA Loans

  • Purchase
  • Refinance
  • Cash Out
  • Consolidation
  • Renovation
  • Ground Up Construction

You can use VA Mortgage loans for the financing purposes of PURCHASE, REFINANCE, CASH-OUT, DEBT-CONSOLIDATION, RENOVATION, REHAB, REMODEL, GROUND UP CONSTRUCTION for both your primary residence and for rental investment property.

Marine Corps

Army

Army

Air Force

Air Force

Navy

Navy

Space Force

Space Force

Coast Guard

Coast Guard

Veterans Affairs

Serving those who served our country with specialized mortgage options designed exclusively for veterans, active-duty service members, and eligible surviving spouses.

Key Features:

  • No down payment required

  • 100% loan to value

  • No private mortgage insurance

  • Competitive interest rates

VA home loans, Veterans Affairs mortgage, VA loan benefits

VA Loan Benefits

VA loans offer numerous advantages over conventional and FHA mortgages, making VA Loans an excellent choice for those who have served our country.

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No Down Payment

Unlike conventional and FHA loans that require 3-5% down, VA loans offer 100% financing to qualified veterans.

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No PMI Required

Save hundreds monthly by avoiding the private mortgage insurance required on other low-down-payment loans.

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Lower Interest Rates and Payments

VA loans typically offer rates 0.5% to 1% lower than conventional and FHA loans due to government backing.

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Limited Closing Costs

The VA restricts certain closing costs and allows sellers to cover all buyer closing costs.

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No Prepayment Penalties

Pay off your VA loan early without any financial penalties or additional fees.

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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

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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.

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Form DD214

A DD214 is a document that confirms a service member's discharge details, while a Certificate of Eligibility (COE) is a formal document from the VA that verifies a veteran's eligibility for a VA home loan. The DD214 is used to apply for and obtain the COE, as it contains the necessary service information, such as discharge status, character of service, and length of service. 

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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.

Differences between DD214 vs. Certificate of Eligibility

Feature DD214 (Certificate of Release or Discharge from Active Duty) Certificate of Eligibility (COE)
What it is A separation document for service members that details their military service history and conditions of discharge. A formal document from the Department of Veterans Affairs (VA) that proves eligibility for a VA home loan.
Primary Purpose To provide official proof of a service member's completion of service. To verify to lenders that a borrower meets the minimum service requirements for a VA-backed loan and to show their entitlement amount.
How it's used It is the primary piece of evidence needed to apply for a COE. It is the document that lenders require to proceed with a VA home loan.
Who issues it The military branch. The Department of Veterans Affairs (VA).
Key information on document Discharge date, character of service, military service details. Confirmation of eligibility, service requirements, and entitlement amount.

How to get your DD214?

Veterans who’ve lost or otherwise can’t provide proof of their military service can try obtaining new documents through the milConnect online portal. You can also send the SF-180 (Request Pertaining to Military Records) to the appropriate records center noted on the form.

Service members currently on active duty will not have a DD214 and can instead provide lenders with a statement of service.

Documentation You'll Need

The list of documentation items shown below is a good general list. However, based on your borrower profile overlayed with the specific loan program underwriting guidelines, you may need to provide additional information. In some circumstances, you may not need to provide the entire list of items. Speak with Rodney Rose, your trusted loan officer, for your specific documentation needed.

  • DD214 - proof of their military service.

  • Certificate of Eligibility - To prove your eligibility for a VA loan, you need to obtain a Certificate of Eligibility (COE).

  • Tax returns - You will need to fill in a Form 4506-T, and provide your tax forms (the last 2 years should suffice).

  • Pay stubs, W-2s, 1099's, K-1's, or other proof of income -These include your most recent 1 month of pay stubs. If you are self-employed you must provide the two most recent tax returns as well as a year-to-date profit and loss statement. If you file a separate business tax return, you will need to provide the most recent 2 years along with a year-to-date profit and loss statement.

  • Bank statements and other assets - Lenders need your most recent 2 months bank statements and may request proof of your retirement accounts, assets, as well as other investment accounts.

  • Credit history and FICO score - Your credit report will be obtained which will provide details of your credit payment history, including any episodes of bankruptcies or foreclosures.

  • Gift letters - If any friend or family member wants to help you with the down payment or closing costs by offering you some cash you must provide a “gift letter” which states that the money is a gift and not a loan.

  • Photo ID - Provide a government issued ID with photo such as a driver's license or passport.

  • Renting history - Your history as a tenant on rent to guarantee you can pay your rent bills on time.

  • Co-Borrower or Co-Signor - If co-borrower or co-signor is not a VA eligible person then the downpayment changes as the 100% financing is strictly for the VA eligible person.

  • Purchase Agreement - Legally binding contract between a buyer and a seller that outlines the terms and conditions of a property sale.

Ready to Use Your VA Loan Benefit?

Let our experts guide you through every step — from eligibility to closing.

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.

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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.

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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.

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Make An Offer

Once you've found your perfect home, work with your agent to make an offer and negotiate terms with the seller.

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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.

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Loan Processing

Once your offer is accepted, we'll process your loan application, verify your information, and prepare your file for underwriting.

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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 Minimum 3-5% 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%), unless you are Disability Exempt None 1.75% upfront MIP
Credit Score Minimum No Minimum, 500+, 620+ typical 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.

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.

Do I qualify for a VA funding fee exemption?

You are exempt from the VA funding fee if you receive VA disability compensation for a service-connected disability or are eligible for it but receive retirement or active-duty pay instead. Other exemptions include receiving a Purple Heart, having a proposed service-connected disability rating before loan closing, or being a surviving spouse who receives Dependency and Indemnity Compensation (DIC).

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.

© Copyright 2025 by E Mortgage Capital. Inc.

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 www.nmlsconsumeraccess.org

Loan Officer at E Mortgage Capital, Inc. 3750 S Susan Street Santa Ana, Ca. 92704. NMLS#1416824 NMLS#1396861 DRE#00853403. Equal Housing Opportunity Lender. https://www.nmlsconsumeraccess.org. For State Requirements, go to https://www.emortgagecapital.com/licensing.