VA Loan

  Minimum Down payment

• No down payment required*

Maximum mortgage amount

• $2,000,000 for a single unit in 2024

 for borrowers with full entitlement 

• Higher amounts may be available for multi-unit properties

Credit score requirements

• See loan officer for latest FICO® Score Requirements 

• Flexible credit guidelines

Qualifying ratios

• Per automated underwriting

Seller concessions

• Seller is allowed to pay all the closing costs

Funding fee

• Funding fee is based on entitlement

• No monthly mortgage insurance required

Gift funds

•Gift funds allowed for the down payment

Miscellaneous

• No second home, vacation home or investment properties

• No income restrictions

• No first-time homebuyer requirement

• VA loan can be used multiple times, but the funding fee will increase with each use

•  Additional benefits may be available for disabled veterans.

*A down payment is required if the borrower does not have full VA entitlement or when the loan amount exceeds the VA county limits. VA loans are subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit guidelines, and property limits.