VA Loan
A powerful benefit for eligible veterans, active duty service members, and surviving spouses — offering zero down payment and no private mortgage insurance.
Min. Down Payment
0% (no down payment required)
Credit Guidance
VA has no official minimum, but most lenders require 580-620+. Work with us to understand your options.
Income / DTI
VA uses a residual income calculation in addition to DTI to ensure the borrower can sustain the payment.
Occupancy
Primary residence only
Property Types
The VA loan program is one of the most significant financial benefits available to eligible U.S. military veterans and active duty service members. Backed by the Department of Veterans Affairs, VA loans allow eligible borrowers to purchase a primary residence without a down payment and without private mortgage insurance — which can represent meaningful savings compared to other loan types. VA loans require a Certificate of Eligibility (COE), which confirms your entitlement. A VA funding fee applies in most cases and can be financed into the loan. Veterans with qualifying service-connected disability ratings may be exempt from the funding fee. The program has specific property requirements. The home must meet VA Minimum Property Requirements (MPRs) to ensure it is safe, sanitary, and structurally sound. Condos must be on a VA-approved project list. If you served and have not yet looked into whether you qualify, we encourage you to ask. The VA loan benefit is earned, and we are glad to walk through your eligibility with you.
Key Benefits
- No down payment required for eligible borrowers
- No private mortgage insurance (PMI)
- VA-backed guarantee reduces lender risk, which can support favorable loan terms
- Limits on certain closing costs a veteran can be charged
- No prepayment penalties
- Benefit can often be used more than once
Considerations
- Primary residence only — not for investment properties
- VA funding fee applies in most cases (exemptions available for qualifying disability ratings)
- Property must meet VA minimum property requirements (MPRs)
- Requires a valid Certificate of Eligibility (COE)
- Condo purchases require VA project approval
Common Misconceptions
- • VA loans can be used more than once
- • Surviving spouses of veterans may be eligible
- • The VA funding fee is not the same as PMI and does not add to your monthly payment if financed
Frequently Asked Questions
Preparing for a VA home loan conversation
Start with your Certificate of Eligibility, then compare the full cost of the proposed loan. VA eligibility does not by itself establish credit or income approval. Ask whether a funding fee applies and how any fee would affect cash at closing or your loan balance.
Questions to bring to your loan officer
- How do I obtain or confirm my Certificate of Eligibility?
- Am I exempt from the VA funding fee?
- What appraisal, occupancy, closing-cost and lender requirements apply?
VA: home loan benefits and eligibility
Compare scenarios with our calculators · Talk with our Lehi team
After reviewing VA eligibility, use the pre-approval preparation guide and Payment Scenario Comparison to organize your questions about the full payment and cash at closing. Estimates do not establish approval.
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Have questions about VA Loan?
Mia can explain this public overview and help you prepare questions for a loan officer. Current terms and eligibility need individual confirmation.
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Work Hard Mortgage · NMLS #2396714 · Equal Housing Opportunity · Licensed in Utah. Program availability and guidelines may change. Final eligibility depends on credit, income, assets, property type, occupancy, and underwriting approval.