Get Pre-Qualified
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The VA loan program is a powerful home financing option for eligible veterans, active-duty service members, and qualifying surviving spouses. Backed by the U.S. Department of Veterans Affairs, it combines strong VA pricing, flexible purchase and refinance options, dedicated VA guidance, and a smooth path to closing—often with $0 down, no monthly mortgage insurance, and long-term benefits designed to reward your service.
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VA loans are made by approved lenders and partially guaranteed by the Department of Veterans Affairs, which helps you qualify for better terms. Your lender confirms your VA entitlement with a Certificate of Eligibility (COE), then reviews your credit, income, assets, and VA residual income to issue a pre-approval. Once you are under contract on a VA-eligible home, the lender orders a VA appraisal to confirm value and property standards, underwriting reviews the file under VA and lender guidelines, any conditions are cleared, and the loan closes—funding your purchase or refinance with no monthly PMI and the potential for $0 down, subject to VA rules and your entitlement.
Feature | Detail |
Program Type | VA-guaranteed mortgage for eligible veterans, service members, and qualifying surviving spouses |
Occupancy | Primary residence only (no second homes or pure investment properties under standard VA rules) |
Down Payment / LTV | Up to 100% financing (no down payment) for qualified borrowers, subject to entitlement and property value |
Mortgage Insurance | No monthly mortgage insurance (no PMI). A VA Funding Fee may apply, often financeable; may be reduced or waived for certain disabled veterans |
Credit Requirements | Flexible credit standards; minimum scores and overlays vary by lender |
DTI & Residual Income | DTI reviewed alongside VA residual income requirements by region and family size |
Loan Purpose | Purchase, rate-and-term refinance, cash-out refinance, and IRRRL (VA streamline) where eligible |
Property Types | 1–4 unit primary residences, VA-eligible condos and PUDs, and certain manufactured homes (per lender) |
Closing Costs | Certain fees limited by VA; seller and/or lender credits may help cover closing costs and prepaids |
Assumability | VA loans may be assumable by a qualified buyer, subject to VA and lender approval |
BarCorp Financial Group, NMLS #1746897. BarCorp Financial Group is a mortgage broker and does not make commitments or fund loans. Information provided is for general informational purposes only and is not a loan approval, Loan Estimate, or commitment to lend.
All loans are subject to underwriting approval, lender guidelines, and property qualification. Not all applicants will qualify. Product availability, interest rates, and terms are subject to change without notice and may vary by lender and state. Equal Housing Lender.
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