VA Loans for military veterans or those in active service.
VA Home Loans (aka my pride and joy)
If you're a military veteran or still in active service, you may be eligible for a U.S. Department of Veterans Affairs (VA) loan. These often require no down payment, lower interest rates, and have lower closing costs which can help keep your savings secure.*
As a certified Military Mortgage Specialist, I’ve not only originated hundreds of VA loans for my military and veteran clients, but have completed extensive continuing education on every detail of VA loans to ensure I can be your trusted go-to expert.
My first VA loan was confusing. I was flying blind, nobody explained my options, and I didn’t know what I didn’t know.
That experience is a big part of why I do this work the way I do. Now I ensure my active-duty and veteran clients are armed with all the data before they make a move.
We talk through entitlement, occupancy, timing, and what you’re trying to do with the home you want now and/or the one you’re considering next. We look at the real numbers and actual timeline—not just the path of least resistance.
*A down payment is required if the borrower does not have sufficient VA Entitlement. VA loans subject to individual VA Entitlement amounts, eligibility, and qualifying factors such as income and credit standards. Fairway is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency.
VA loans: the real answers
Licensed in Arkansas, Arizona, Colorado, Idaho, Nevada, Oregon, Texas, and Washington. NMLS 1733485.
Can I use my VA loan more than once?
Yep. It's not a one-and-done benefit, despite what the guy at the unit BBQ said. Sell the home, pay off the VA loan, and the entitlement you used can usually be restored so you can use it again. You may even be able to use it while you still HAVE a VA loan, which is the next question.
Can I have two VA loans at the same time?
Sometimes, yes. If part of your benefit is still available (the VA calls it "remaining entitlement"), you can get a second VA loan and keep the first. How much you can borrow with no money down depends on how much entitlement is already tied up and on the loan limit in the county where you're buying. And the new home has to be your primary residence.
Do I actually have to live in the home?
Yes. The veteran or their spouse MUST occupy the home as their primary residence within 60 days of closing. VA loans are for the home you live in. Not the lake house. Not the rental portfolio (yet).
Can I keep my house and rent it out when I PCS?
Often, yes. The VA requires the home to be your primary residence when you buy it…not for the rest of your natural life. Plenty of military families keep a house as a rental when orders drop. The REAL questions are whether the rent covers the costs, how that house affects qualifying for the next one, and how much entitlement it's still using. Run those numbers BEFORE you sign a lease, not after.
Who's exempt from the VA funding fee?
The VA funding fee is a one-time fee on most VA loans, and it's waived entirely if you have a VA disability rating of 10% or higher, even if you're receiving retirement or active-duty pay instead of disability compensation. It's also waived for certain surviving spouses receiving Dependency and Indemnity Compensation, service members with a qualifying pre-discharge disability rating, and active-duty service members who've received a Purple Heart. If you do owe the fee, it can be rolled into the loan.
Does a VA loan really mean no down payment?
With full entitlement, there is no down payment. Period. You still have to qualify for the loan, and the home still has to appraise. If some of your entitlement is tied up in another loan, a bigger purchase may need a down payment, and that's the very first math I run.
Why work with a Military Mortgage Specialist?
Because being licensed to originate mortgages doesn't mean someone fully understands VA loans, which are their own animal: entitlement, occupancy, the funding fee, timing, a house you might keep, a move you didn't pick. Compared with other loan programs, VA loans lean much harder on the expertise of the person running your loan, and when that expertise isn't there, veterans can get hurt without anyone meaning to. I spent many years as an Army spouse, I've originated hundreds of VA loans, and I'm a Certified Military Mortgage Specialist. I sought out this training and fought to learn this program inside and out, because my own first VA loan was a whole lot of flying blind.
VA loans subject to individual VA Entitlement amounts, eligibility, and qualifying factors such as income and credit standards. Fairway is not affiliated with any government agencies.