A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs, built specifically for those who've served. The two biggest advantages: most eligible borrowers can buy with $0 down, and there's no monthly private mortgage insurance (PMI), which is required on most low-down-payment conventional loans.
Eligibility generally comes down to your length and type of service. Active-duty service members, veterans, National Guard and Reserve members, and some surviving spouses may qualify. You'll need a Certificate of Eligibility (COE), which we can help you pull.
VA loans do have their own guidelines around credit, income, and the property itself (it has to meet certain safety and livability standards), and there's typically a one-time VA funding fee, though it's often waived for veterans with a service-connected disability.
Get StartedCommon Questions
Do I have to be currently serving to qualify?
No. Veterans, active-duty service members, National Guard and Reserve members, and some surviving spouses can all be eligible, depending on length and type of service.
Is there really no down payment?
For most eligible borrowers, yes, VA loans allow $0 down. Your specific loan amount and entitlement can affect this, which is something we'd walk through together.
Other Loan Programs
Easier to Qualify For
Conventional LoanThe Standard Option
USDA LoanNo Down Payment Outside the City
Jumbo LoanFor Higher-Priced Homes
RefinancingTrade In Your Current Loan
Commercial LoanFinancing for Buildings That Make Money
Construction LoanFinancing to Build, Not Just Buy
Land LoanFinancing for Land, Not Just Homes
Doctor LoanBuilt for Big Student Debt and Bigger Potential
Renovation LoanBuy the Fixer-Upper and Fund the Fix
DSCR LoanQualify on the Property, Not Your Paycheck
Asset Depletion LoanLet Your Savings Do the Talking
Fix & Flip LoanMove Fast on the Next Flip
HELOCA Credit Line Backed by Your Home
Manufactured Home LoanFinancing Built for Manufactured Housing
Second Home LoanFinancing for the Place You Escape To
Multi-Family LoanLive in One Unit, Rent Out the Rest
Non-Warrantable Condo LoanWhen the Condo Doesn't Fit the Standard Box
Reverse MortgageTurn Home Equity Into Income, Without a Monthly Payment
Foreign National LoanFinancing for Buyers Without U.S. Credit History
ITIN LoanHomeownership Without a Social Security Number
Bank Statement LoanWhen Your Tax Return Doesn't Show Your Real Income
This is general information, not a commitment to lend. Rates, terms, and eligibility vary by lender and are subject to underwriting guidelines. East Coast Mortgage is an Equal Housing Lender, NMLS #2354674.