A VA mortgage is a home loan that is guaranteed by the U.S. Department of Veterans Affairs (VA) and is available to eligible active-duty military members, veterans, and surviving spouses.

Eligibility for a VA mortgage varies based on military service and other factors, but typically includes active-duty military members, veterans, and surviving spouses who meet certain requirements.

The benefits of a VA mortgage include no down payment requirement, no private mortgage insurance, and competitive interest rates.

VA mortgages are intended to be used for primary residences, but in some cases, they may be used to finance a second home.

The maximum amount you can borrow with a VA mortgage varies based on your entitlement and the county where the property is located.

While a good credit score is beneficial, VA mortgages have more lenient credit requirements than conventional mortgages.

Yes, you may be able to refinance your current mortgage with a VA Interest Rate Reduction Refinance Loan (IRRRL).

Closing costs are typically required with a VA mortgage, but they may be paid by the seller or financed as part of the loan.

Yes, you may be able to use a VA mortgage to purchase a fixer-upper and finance the cost of renovations with a VA renovation loan.

The VA funding fee is a one-time fee paid by the borrower at closing that helps offset the cost of the VA loan program.

The VA funding fee varies based on the borrower’s military status, loan type, and down payment amount.

Some borrowers may be eligible to waive the VA funding fee if they receive VA disability compensation.

No, a down payment is not required for most VA mortgages.

Yes, you may be able to use a VA mortgage to purchase a mobile home if it is classified as real estate.

Yes, you may be able to use a VA mortgage to purchase a condo if it is VA-approved.

No, a VA mortgage cannot be used to purchase land only. It can be used to finance a home and the land it is on.

The time it takes to get a VA mortgage varies based on the lender and other factors, but the process can be faster than a conventional mortgage.

To apply for a VA mortgage, you must provide proof of eligibility and work with a VA-approved lender.

Yes, you may be able to use a VA mortgage more than once if you have remaining entitlement.