The Veteran's Guide to Homeownership

If you're reading this, chances are you're about to take one of the most important (and empowering) steps of your civilian life: buying a home. First off, thank you for your service. As a team led by a Navy veteran, we know the grit, sacrifice and uncertainty that comes with the uniform, and we know the path to homeownership doesn't always feel built for us. This isn't a generic mortgage brochure. It's a step-by-step resource written by a veteran who's been through the system, navigated the VA loan process, and helped hundreds of military families do the same. Whether you're active-duty, separated, retired, or Guard/Reserve, we've got your six.

The loan you earned. The benefit you deserve.

The VA loan is one of the most powerful tools available to veterans and active-duty service members, and one of the most misunderstood. It was designed to remove barriers. You can buy a single-family home, a condo in a VA-approved project, a townhome, or even a 2–4 unit property as long as you live in one of the units.

• $0 down payment with full entitlement, as long as the price doesn't exceed the appraised value and your lender approves the loan, so you can keep your savings for moving, furniture and reserves.
• No monthly mortgage insurance. VA doesn't require private mortgage insurance (PMI) or mortgage insurance premiums (MIP).
• No VA minimum credit score. VA doesn't set a minimum credit score; lenders set their own standards.
• Competitive interest rates from the lenders who offer VA-backed loans.
• Reusable. You can use it again and again, as long as you have available or restored entitlement.

And yet many veterans never use it, or they get bad advice and give up halfway through.

From service to sold: six steps to the keys

1. Get pre-approved (and certified). Secure your Certificate of Eligibility (COE) and get a personalized pre-approval based on your goals and credit.
2. Find a home that checks the boxes. Work with an agent who knows VA requirements, so the home you fall for can meet VA's safety standards.
3. Make a strategic offer. Craft a competitive yet realistic offer, and understand all of your costs before you sign.
4. VA appraisal and home inspection. A VA-assigned appraiser confirms the home meets minimum property requirements. Your own inspection looks for hidden issues.
5. Underwriting and final approval. A VA-savvy underwriter reviews your file. Once it's complete, you get the "clear to close."
6. Closing day. Sign the papers and walk out with the keys. We're here afterward for questions and yearly escrow reviews.

Keep your loan on track

The process isn't overly complicated, but it is time-sensitive.

What to do

• Keep paying all your bills on time.
• Tell us right away if your job, deployment status or income changes.
• Keep your bank accounts stable and avoid unexplained large deposits.
• Respond quickly to document requests. We won't ask for anything we don't need.
• Ask questions. Seriously. That's what we're here for.

What not to do

• Open a new credit card, lease a vehicle, or co-sign a loan.
• Make major purchases, like furniture or appliances, before closing.
• Ghost your loan officer.
• Assume you're ineligible because of past credit issues. Let us take a look first.

What is the VA funding fee?

The VA loan doesn't require monthly mortgage insurance or a down payment, but most borrowers pay a one-time VA funding fee, which helps sustain the program for future service members. It can be rolled into your loan, so you don't have to pay it out of pocket. The fee depends on your down payment and whether you've used the benefit before. These are the purchase-loan fees effective April 7, 2023, per VA's funding fee table (checked October 2026):

• Less than 5% down: 2.15% on first use, 3.3% on subsequent use.
• 5% or more down: 1.5%, first or subsequent use.
• 10% or more down: 1.25%, first or subsequent use.

Who doesn't pay it

• Veterans receiving VA compensation for a service-connected disability, or eligible for it but receiving retirement or active-duty pay instead.
• Surviving spouses who receive Dependency and Indemnity Compensation (DIC).
• Service members with a proposed or memorandum disability rating before closing.
• Active-duty service members who provide evidence of a Purple Heart on or before closing.

A proposed or memorandum rating issued after closing won't get you a refund. If VA later awards compensation with an effective date before your closing date, you may be eligible for a refund. If you have a claim pending, talk to us before you close. We'll verify your status during pre-approval.

"The funding fee is a real cost. Zero down on your first VA loan, and you start about 2% behind. It doesn't make the VA loan a bad deal, but if you might sell in a few years, it's the first thing to weigh." — Jimmy Everetts

Seller concessions: where the VA loan really pulls ahead

VA treats what a seller pays in separate pieces. A seller can cover your closing costs and pay normal discount points to buy down your rate, and VA doesn't cap those. On top of that, the seller can contribute concessions worth up to 4% of the home's reasonable value, and those concessions can even pay off your debts. Think of it as three buckets:

1. Your closing costs. Title, recording, appraisal and lender fees. VA doesn't count these toward the 4% limit.
2. Discount points. Points to buy down your interest rate, as long as they're in line with normal pricing for that rate.
3. Up to 4% in concessions. Measured against the home's VA appraised value.

What the 4% can pay for

• Your VA funding fee
• Prepaid property taxes and insurance
• Paying off debts, like credit cards, collections, or a car loan or lease
• Paying off judgments
• A temporary rate buydown
• Discount points beyond normal pricing

What 4% can look like (example)

• VA appraised value: $500,000
• 4% concession limit: $20,000
• Pays your first-use funding fee (2.15% of a $500,000 zero-down loan): $10,750
• Pays off a car loan to lower your monthly debts: $9,000
• Plus your closing costs and normal discount points, outside the 4%

Numbers are for illustration only. Concessions have to be negotiated with the seller and written into your purchase contract, and what makes sense depends on the market and the home.

Plan it before you write the offer. Concessions only happen if you ask for them in the contract. Talk with your lender before your agent writes the offer, so you know exactly how much to request and which bucket each dollar should go to.

Eligibility vs. entitlement: why you may have more VA loan left than you think

Eligibility is whether you qualify for the VA home loan benefit at all, based on your service, and your Certificate of Eligibility (COE) proves it. Once you're eligible, you stay eligible. Entitlement is the dollar amount VA guarantees to your lender if the loan goes bad (typically 25% of the loan), and it's what decides how much you can borrow with zero down. Entitlement is the part that gets used while a VA loan is open, and the part you can get back.

Full entitlement vs. remaining entitlement

If you've never used your benefit, or your entitlement has been fully restored, you have full entitlement: VA sets no loan limit, and how much you can borrow with zero down comes down to what you qualify for: the appraisal must support the price and the lender must approve the loan. If you still have a VA loan open, say you kept your last home as a rental, part of your entitlement is tied up in it. What's left is your remaining entitlement, and it can often buy another home. That's how many veterans end up with two VA loans at the same time, often after PCS orders, as long as they'll live in the new home and qualify for both payments.

How a second VA loan can work (example)

• Hypothetical county one-unit loan limit where you're buying: $800,000
• 25% of the county limit: $200,000
• Minus entitlement still tied up in your first VA loan: $50,000
• Remaining entitlement: $150,000
• Roughly the most you could borrow with $0 down (remaining entitlement × 4): $600,000

Numbers are for illustration only. County loan limits change every year (look yours up on FHFA's conforming loan limit page), and you still have to qualify for the payments. Want to buy above that amount? A down payment of 25% of the difference usually covers the gap.

Three ways to get your entitlement back

1. Sell the home and pay off the loan. Your entitlement can be restored, and there's no limit on how many times you can do this.
2. Pay off the loan and keep the home, one time. Pay the VA loan off without selling, most often by refinancing into a conventional loan, and you can restore your entitlement once while keeping the house. After that, future restorations require selling the homes you bought with VA loans.
3. Let another veteran assume your loan. If an eligible veteran assumes your VA loan and substitutes their entitlement for yours, your entitlement is restored.

Restoration isn't automatic. You request it with VA Form 26-1880, and VA updates your COE. We'll handle that request with you.

"The most important thing to understand is that the VA loan isn't a one-time shot. There are several ways to use it again, and some veterans can even have more than one at the same time." — Jimmy Everetts

Real talk: it's a lifetime benefit

• You can use it more than once. Sell, pay off, or have a veteran assume your loan, and your entitlement can come back.
• You might qualify for two. With remaining entitlement, you may be able to buy your next home with a VA loan while keeping the first.
• Multi-unit is allowed. Buy a 2–4 unit property as long as you live in one of the units.
• You don't need perfect credit. VA doesn't set a minimum credit score; lenders set their own standards.
• Second chances exist. A past foreclosure doesn't automatically end your benefit. Lenders want time to have passed, and the entitlement from a foreclosed VA loan comes back only after VA's loss is repaid. You may still have remaining entitlement to use.
• Property tax relief in Colorado. Colorado offers a property tax exemption for veterans with a service-connected disability rated 100% permanent by VA, or who have been granted individual unemployability. You must have owned the home and lived in it as your primary residence since January 1 of the year you apply, and the application goes to the county assessor by July 1. That means new buyers usually can't claim it the year they buy.

What you'll need to get pre-approved

• Certificate of Eligibility (COE)
• Military ID or DD-214
• LES or recent pay stubs
• Two years of tax returns and W-2s
• Two months of full bank statements
• VA disability award letter, if you have one

Veteran-Led. Veteran-Focused. Veteran-Trusted.

We're not just lenders. We're guides, problem solvers and teammates. And yes, one of us is a Navy vet who's used this loan more than once himself (and seen where other lenders get it wrong).

Jimmy Everetts, Senior Loan Officer. The architect of your home financing game plan. A Navy veteran with a knack for solving tough problems, he breaks down your options, answers your toughest questions, and steers you from first call to closing, always with straight talk and solutions, not sales pitches.

Brandon Gonzales, Loan Processing Expert. The detail-obsessed pro keeping your file accurate and moving. He handles the paperwork, timelines and lender communication, so your loan stays on schedule and you avoid last-minute surprises.

Rachel Holden, Client Experience Expert. Makes sure every client feels supported at every stage, from first introduction to long after closing. The creative force behind our client appreciation events, she keeps communication personal, so you always know you're more than a file.