VA basics
A VA-backed purchase loan is generally made by a private lender with a VA guaranty. Eligible borrowers may be able to buy with no down payment, subject to appraisal and other requirements, and without monthly private mortgage insurance. It is still a loan to repay, not free housing.
Closing costs and a VA funding fee may apply; some borrowers qualify for a fee exemption. Ask for a written explanation of costs and compare lenders.
VA home loansA Certificate of Eligibility (COE) documents service-based eligibility. VA and lender credit, income and occupancy requirements still apply. A lender—not this guide—handles preapproval and underwriting. Preapproval is not final loan approval.
A purchase loan generally requires that you intend to live in the home, not buy a vacation home or pure investment property. Ask VA and your lender about occupancy timing and any applicable military or spouse provisions.
VA eligibility and COENo lender is endorsed or receiving inquiries. Future paid placements will be clearly labeled and separate from educational guidance.
No agent names, licenses or reviews have been supplied. Verify credentials and interview more than one professional.