VA Program

VA Loan Benefits

Q: What is the VA funding fee?

The VA funding fee ranges from 1.25% to 3.3% depending on down payment, loan type, and whether it's first use or subsequent use. It is waived entirely for veterans with 10%+ service-connected disability.

Q: Can I use a VA loan for a second home?

VA loans require owner-occupancy — the home must be your primary residence. However, if you PCS or move for work, you may be able to keep the previous home as a rental and use VA for a new primary residence.

Q: Do VA loans take longer to close?

Not necessarily. Our average VA loan close time is about 21 days. The VA appraisal process runs parallel to underwriting and rarely adds significant time.

Q: What credit score do I need for a VA loan?

The VA itself has no minimum credit score requirement. Most lenders set their own overlays, typically requiring 580-620+. Airus Lending works with multiple VA lenders to find options for a wide range of credit profiles.

The most powerful home financing benefit available to those who served.

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Program Overview

VA loans are backed by the U.S. Department of Veterans Affairs and are widely considered the best mortgage program in the country. Eligible veterans, active-duty service members, National Guard and Reserve members, and surviving spouses can access zero-down financing, no private mortgage insurance, competitive interest rates, and flexible qualification standards. These benefits translate to significant savings — often tens of thousands of dollars over the life of the loan compared to conventional or FHA alternatives.

Who Is This Loan For?

✓ Veterans with qualifying military service
✓ Active-duty service members
✓ National Guard and Reserve members with qualifying service
✓ Surviving spouses of veterans who died in service or from service-connected disability
✓ Current VA loan holders looking to understand refinance benefits (IRRRL)

Key Benefits

Zero Down Payment

Purchase a home with $0 down. No other major loan program offers this for non-rural properties.

No Private Mortgage Insurance

Unlike FHA and conventional loans with less than 20% down, VA loans never require monthly PMI.

Competitive Interest Rate Options

VA loans may offer competitive rates compared with other loan programs, depending on borrower profile, lender pricing, and market conditions.

Flexible Credit Standards

The VA does not establish one universal minimum credit score, though lenders may apply their own credit requirements.

Qualification at a Glance

CreditNo official minimum (most lenders: 580-620+)

Down Payment$0 — 100% financing

OccupancyPrimary residence only

Property TypesSingle-family, Condos (VA-approved), 2–4 units (owner-occupied), Manufactured homes

General Requirements

Certificate of Eligibility (COE) required — Airus Lending can pull this for you
90+ days of active-duty service during wartime, or 181+ days during peacetime
National Guard/Reserve: 6+ years of service or 90+ days of active-duty orders
No minimum down payment required
VA funding fee applies (waived for service-connected disability)
Surviving spouse eligibility through DIC or surviving spouse COE

Advantages

✓ 100% financing — no down payment
✓ No monthly PMI ever
✓ Competitive interest rate options
✓ Flexible credit and DTI guidelines
✓ VA funding fee can be rolled into loan
✓ Reusable benefit — use it multiple times
✓ VA appraisal protects the buyer
✓ No prepayment penalty
✓ Closing cost limits protect borrowers

Tradeoffs to Consider

↔ VA funding fee (1.25-3.3%) unless exempt — can be financed
↔ Primary residence only — cannot be used for pure investment properties
↔ VA appraisal can be stricter on property condition
↔ Not all condos are VA-approved
↔ Processing may take slightly longer if appraisal issues arise

Common Scenarios

First-Time Veteran Homebuyer

A recently separated Army veteran uses their VA benefit to purchase a $350,000 home with $0 down. They save $70,000 in down payment versus a conventional loan, plus avoid $200+/month in PMI.

Active-Duty PCS Move

An active-duty member receives PCS orders and purchases a home at their new duty station. They rent out their previous VA-financed home and use their restored entitlement for the new purchase.

Disability-Exempt Veteran

A veteran with a service-connected disability rating purchases a home with $0 down and the VA funding fee is completely waived — saving an additional $8,000+ in upfront costs.

Documents Typically Needed

Certificate of Eligibility (COE)
DD-214 (if separated) or active-duty Leave & Earnings Statement
Two years of tax returns and W-2s (or 12-24 months bank statements)
Recent pay stubs (30 days)
Two months of bank statements
Government-issued ID

How many times can I use my VA loan benefit?

There is no limit on how many times you can use a VA loan. After selling a home or paying off a VA loan, your entitlement can be restored for future use.

What is the VA funding fee?

Can I use a VA loan for a second home?

Do VA loans take longer to close?

What credit score do I need for a VA loan?

Broker Disclosure: Scout Financial Group Inc DBA Airus Lending is a licensed mortgage broker (NMLS #2187418) and does not make loans or credit decisions. Airus Lending works with multiple wholesale lenders to help borrowers compare available loan options. Final approval depends on the lender, automated underwriting findings, documentation, state requirements, and overall borrower profile. Not all applicants will qualify.