VA Loan Eligibility and Benefits Guide (2026)

The VA home loan is one of the most valuable benefits of military service: 0% down payment, no monthly mortgage insurance, and competitive interest rates. It's available to veterans, active-duty service members, qualifying National Guard / Reserve members, and certain surviving spouses.

Who Qualifies

VA eligibility depends on your service:

• Active duty: 90+ continuous days during wartime, or 181+ days during peacetime
• Veterans: honorable discharge after meeting the active-duty requirements
• National Guard / Reserves: 6 years of service, or 90 days of active service during wartime
• Surviving spouses: unremarried spouses of service members who died in the line of duty or from a service-connected disability

Eligibility is documented by the Certificate of Eligibility (COE). We pull it for you at no charge.

Why VA Loans Are So Powerful

• 0% down payment: full financing up to the lender's allowed amount
• No monthly mortgage insurance: unlike FHA and most low-down conventional loans
• Competitive rates: VA rates are often close to or below conventional rates because the government backs the loan
• Flexible credit standards: many VA lenders accept scores in the 580–620 range
• No prepayment penalty: pay off the loan early any time
• Reusable benefit: you can use your VA loan more than once over your lifetime
• Assumable: a qualified buyer can take over your VA loan, which can be a major selling advantage when rates are higher

The VA Funding Fee

The funding fee is a one-time charge that supports the VA loan program. It's typically 1.25%–3.3% of the loan amount, depending on down payment, service category (active vs. Reserves), and whether this is your first or subsequent use.

The funding fee can be financed into the loan, so you don't have to pay it out of pocket. Disabled veterans with a 10%+ VA disability rating are exempt from the funding fee entirely.

VA Loan Limits

Since 2020, veterans with full entitlement have no VA loan limit. Lenders set their own maximums based on a borrower's qualifications, and many California veterans qualify for loans well over $1M with strong credit and income.

Property and Use Requirements

VA loans are for primary residences only. They can be used for single-family, condos (in VA-approved projects), and 2–4 unit homes if the veteran lives in one of the units. They can't be used for vacation homes or pure investment properties.

Restoring Entitlement

If you've paid off a prior VA loan or sold the home, your entitlement can be restored, letting you use the benefit again on a new purchase. Some veterans can even hold two VA loans simultaneously in specific circumstances (PCS moves, for example).