For veterans, service members, and eligible surviving spouses. Here's how VA loans work, what they cost, why there's no VA loan limit with full entitlement, and how to use your benefit more than once.
Request a VA loan reviewCall or text 360-910-3290
VA home loans are available to:
Your Certificate of Eligibility, or COE, confirms your eligibility and shows how much of your benefit is available. I can request it for you, and it's often available the same day.
| Feature | How VA loans work |
|---|---|
| Down payment | Borrowers with full entitlement can finance up to the full purchase price, subject to lender approval. |
| Mortgage insurance | None. VA loans have no monthly mortgage insurance. |
| Loan limits | No VA loan limit for borrowers with full entitlement. Lenders may set their own maximums. |
| Credit score | VA doesn't set a minimum. Lenders set their own. |
| Income | VA uses a residual income test, which looks at the money you have left each month after your major expenses. |
| Seller concessions | The seller can pay up to 4% of the home's appraised value in concessions, in addition to normal closing costs. Concessions can include paying off some of the buyer's debts. |
| Property | A VA appraisal checks that the home meets basic standards for safety, soundness, and condition. |
Most VA borrowers pay a one-time funding fee. It can be paid at closing or added to the loan. The fee depends on your down payment and whether you've used your benefit before.
| Down payment | First use | After first use |
|---|---|---|
| Less than 5% | 2.15% | 3.30% |
| 5% to 9.99% | 1.50% | 1.50% |
| 10% or more | 1.25% | 1.25% |
Example: on a $500,000 purchase with no down payment, the fee is $10,750 for a first-time user and $16,500 for a repeat user. With 5% down, the loan is $475,000 and the fee is $7,125 either way.
Refinances: a VA Interest Rate Reduction Refinance has a 0.50% fee. A VA cash-out refinance is 2.15% for first use and 3.30% after.
Who's exempt: veterans receiving, or eligible to receive, VA compensation for a service-connected disability, eligible surviving spouses receiving Dependency and Indemnity Compensation, and active-duty Purple Heart recipients are generally exempt. If you receive a disability rating after closing that is effective before your closing date, you may be eligible for a refund.
Your VA benefit isn't one-time. When you sell a home and the VA loan is paid off, your entitlement is typically restored. In some cases, you can keep your current home and still use your remaining entitlement to buy another one, which helps if you're relocating and want to keep the first home as a rental.
If you're selling a home with a VA loan and a buyer wants to assume it, your entitlement may stay tied to that loan. See how that works on my assumable loans page.
Some sellers still believe VA offers are slower or harder to close. Most of that comes from outdated assumptions. A well-prepared VA file closes on a normal timeline. The appraisal does check property condition, so homes with obvious repair issues can need extra planning. When you're writing an offer, I'll make sure your agent and the listing agent know the file is solid.
With full entitlement, VA has no loan limit, which matters at Clark County price points. Lenders do set their own maximums and guidelines for larger VA loans, and those vary, so comparing lenders matters more as the price goes up. For non-VA options at higher prices, see my jumbo loans page.
VA allows the seller to pay off some of the buyer's debts as part of the purchase, as a seller concession. That can lower your debt-to-income ratio and improve your residual income, which can be the difference in getting approved.
Example: a home is priced at $500,000 and appraises at $510,000. VA allows concessions of up to 4% of the appraised value, which is $20,400. The buyer and seller can agree to have the seller pay $10,000 toward the buyer's debts at closing, within that limit.
If you're selling a home, the equity from that sale can also be used to pay off debts at or before closing. I'll show you which debts make the biggest difference, so you don't pay off more than you need to.
You can use a VA loan to buy a property with up to four units, as long as you live in one of them. In some cases, rental income from the other units can help you qualify.
Send me what you know so far:
I'll follow up within one business day with your options.
Request a VA loan reviewCall or text 360-910-3290
Can I use a VA loan more than once?
Yes. Your entitlement is typically restored when a VA loan is paid off, and you may be able to use remaining entitlement while keeping your current home.
Do I need my Certificate of Eligibility before I start?
No. I can request it for you as part of the process.
Are VA loans slower to close?
Not typically. A well-prepared VA file closes on a normal timeline. Homes that need repairs to meet VA standards can take extra planning.
Can I buy a condo with a VA loan?
Yes, if the condo project is approved by VA. I can check a specific project for you.
Can surviving spouses use a VA loan?
Certain surviving spouses are eligible, and those receiving Dependency and Indemnity Compensation are generally exempt from the funding fee.
Can a seller pay off my debts on a VA purchase?
Yes. VA allows seller concessions of up to 4% of the appraised value, and that can include paying off some of the buyer's debts. It has to be agreed to in the purchase contract and approved by the lender.
Is there a VA loan limit?
Not for borrowers with full entitlement. If part of your entitlement is in use, the amount you can borrow without a down payment may be limited.
Bill Black | Senior Mortgage Broker | NMLS #49242 | Northwest Funding Group Inc. | NMLS #101770 | Licensed in WA, OR, and AZ | Equal Housing Opportunity
Educational information only, not a commitment to lend. Not affiliated with or endorsed by the U.S. Department of Veterans Affairs. VA loan eligibility, entitlement, and funding fee exemptions are determined by VA. Loan programs and guidelines vary by lender and borrower and are subject to change.