Buying
VA
No down payment, no monthly mortgage insurance, and a funding fee that disappears entirely with a service-connected disability rating.
The honest bitAlmost always the best loan a qualifying veteran can get. The one place it struggles is a competitive multiple-offer situation, where listing agents still misread VA appraisals.
What this programme actually is
The VA does not lend money. It guarantees a portion of the loan, which is why a lender will write it at 100% of the purchase price with no mortgage insurance. For a veteran buying in Richmond, that combination is worth several hundred dollars a month against an equivalent conventional file at 5% down.
Entitlement is the number that matters. Full entitlement means no loan limit and no down payment. Partial entitlement, usually because another VA loan is still open, caps the guaranty and can require a down payment on a larger purchase. We pull the certificate of eligibility before you write an offer, every time.
VA appraisals include a notice of value and the VA minimum property requirements. They are not harder than an FHA appraisal, but they carry Tidewater, a procedure that lets the appraiser flag a likely low value before the report is issued. Used properly, Tidewater is a chance to supply comparable sales, not a death sentence for the contract.
VAWhat is included when I run it
- Certificate of eligibility pulled and entitlement calculated before you write an offer
- Funding fee exemption confirmed against the VA rating decision letter
- Residual income tested against the VA table for household size and region, not just DTI
- Tidewater response package prepared in advance: comparable sales, upgrades, contract terms
- A one-page explainer for the listing agent on what a VA offer actually means
- IRRRL eligibility mapped for later, including the 210-day and six-payment seasoning rules
How the file moves
- 01Certificate of eligibilityPulled electronically, usually within the hour. Entitlement drives everything after it.
- 02Residual income testThe VA checks the dollars left after all obligations, by household size and region. It is a better test than DTI.
- 03Pre-approval letterWritten with the funding fee status stated, so the listing agent can see the full cash picture.
- 04Notice of valueVA appraisal ordered through the portal. Minimum property requirements reviewed the day it lands.
- 05Tidewater windowIf the appraiser flags a shortfall, we have two business days to send supporting sales.
- 06Clear to closeVeterans may not pay certain fees. We check the closing disclosure against the VA non-allowable list.
Why people choose it
No monthly mortgage insurance
On a $380,000 loan that is roughly $190 a month that never appears (sample figure).
Funding fee waived with a rating
A 10% or greater service-connected disability rating removes the fee entirely, including on a refinance.
Reusable entitlement
Once a VA loan is paid off and the property sold, entitlement is restored and can be used again.
Streamline refinance later
An IRRRL needs no appraisal and no income documentation in most cases.
What moves your price
| Factor | How it behaves |
|---|---|
| Entitlement status | Full entitlement means no limit. Partial entitlement caps the guaranty. |
| Occupancy | Primary residence only, with a 60-day occupancy rule and limited exceptions. |
| Funding fee | Financed into the loan by default, or paid in cash, or waived with a rating. |
| Property standards | Wood-destroying insect report is required in Virginia, and the veteran may not pay for it on a purchase. |
Yes. Entitlement is restored when the prior loan is paid off, and in some cases you can hold two VA loans at the same time using remaining entitlement.
A VA procedure that lets the appraiser notify the lender before issuing a value that is likely to fall short of the contract price. It opens a two-business-day window to submit additional comparable sales.
Some listing agents still believe VA appraisals are slower or stricter. In practice the timelines are close to conventional. I send a one-page explainer with every VA pre-approval to head that off.
Not with full entitlement. With partial entitlement the county conforming limit is used to calculate the guaranty, which can create a required down payment.
Is this the right programme for you
Twenty-five minutes on the phone will settle it. If a different programme is cheaper for your file, I will say so.
Three wholesale quotes on the same day's pricing, before you choose.