The Ultimate Guide for Veterans, Active-Duty, Guard & Reserve
✅ Who Qualifies
Active-Duty: 90+ continuous days
Veterans: 90 days wartime / 181 days peacetime (most eras)
National Guard & Reserves: 6 years of service, OR 90 days under Title 32 (after 8/1/2021)
Surviving Spouses: Un-remarried spouse of a service member who died in service or from a service-connected disability
Need a Certificate of Eligibility (COE) — I can pull this in minutes
💰 The Big Benefits
Feature VA Loan Conventional
Down Payment $0 3–20%
PMI / MI None, ever Required <20% down
Credit Score Floor No VA minimum (lenders ~580–620) Usually 620+
Funding Fee 1.25%–3.3% (financeable) N/A
Seller Concessions Up to 4% Usually 3%
Loan Limits No cap with full entitlement Conforming caps
Assumable Yes (huge in high-rate markets) Rarely
🧾 The Funding Fee (2024)
First use, 0% down: 2.15%
First use, 5%+ down: 1.50%
First use, 10%+ down: 1.25%
Subsequent use, 0% down: 3.30%
WAIVED entirely for vets with service-connected disability rating, Purple Heart recipients, and qualifying surviving spouses
🏠 What You Can Buy
Single-family home
Condo (must be VA-approved)
Multi-unit up to 4 units (must live in one)
Manufactured home (on permanent foundation, lender-dependent)
New construction
❌ Not for investment-only or vacation homes
📋 Documents to Have Ready
DD-214 (or Statement of Service if active)
Certificate of Eligibility (COE)
2 years W-2s / tax returns
30 days pay stubs
2 months bank statements
Photo ID
⚡ VA Loan Myths — Busted
❌ “VA loans take forever.” → ✅ Avg close in 40–50 days, similar to conventional
❌ “Sellers hate VA offers.” → ✅ A strong offer with good agent presentation wins
❌ “You can only use it once.” → ✅ Reusable entitlement — restore after sale or even use twice at once
❌ “VA appraisals kill deals.” → ✅ MPRs protect you — and most issues are minor
🔁 Bonus Strategies
VA IRRRL (Streamline Refi): Lower your rate with no appraisal, no income docs, minimal paperwork
VA Cash-Out: Up to 100% LTV — highest in the industry
Second-Tier Entitlement: Buy a new VA home before selling the old one (PCS-friendly)
Assumable loans: Sell your 3% rate home to another vet — massive selling point
📞 Ready to Use Your Benefit?
You earned this. Let’s put it to work.

Mark Anderson — VA Loan Specialist
NMLS #2068383 •  • [Email] •
Equal Housing Lender