VA HOMEBUYING GUIDE
Use your VA benefit with confidence.
Understand eligibility, upfront costs, and the steps from pre-approval to closing. A practical starting point for eligible Veterans, service members, and surviving spouses buying a primary home.
Start with your Certificate of Eligibility
Your Certificate of Eligibility (COE) confirms service-based eligibility and provides entitlement information. Requirements depend on service history, duty status, and applicable exceptions. Your mortgage team can help obtain it.
Your next step: Ask your broker to review the COE and prior use of your benefit. It does not guarantee loan approval; credit, income, and property requirements still apply.
Build a complete budget
Include taxes, insurance, association dues, maintenance, and moving expenses. Eligible VA borrowers can have a no-down-payment option when entitlement, property value, and lender requirements support it. Some situations still require a down payment. VA loans do not require monthly mortgage insurance.
Your next step: Ask for the payment and cash to close. No down payment does not mean no closing costs.
Understand the funding fee and closing costs
A VA funding fee may apply unless you qualify for an exemption. The amount depends on the loan type and applicable factors, including prior use and down payment. Confirm the current fee or exemption with your broker.
Your next step: Ask how the fee will be paid or financed. Other closing costs and prepaids may still require cash. Seller contributions are subject to VA rules and your agreement.
Prepare your application and choose a home
Gather the records that apply to your income and assets using our application checklist. VA purchase financing generally requires primary-residence occupancy, subject to permitted exceptions.
Your next step: Discuss your occupancy plan, property type, and prior VA loans with your broker before making an offer. Pre-approval remains subject to updated financial information and property review.
Separate appraisal from inspection
A VA appraisal addresses value and minimum property requirements. It does not replace a home inspection. Property issues may require repairs or further review before financing proceeds.
Your next step: Coordinate inspections and contract deadlines with your agent and broker. Allow time for appraisal, underwriting, and conditions.
Review the terms and prepare to close
Review your loan disclosures, payment, closing costs, and cash to close. Confirm identification requirements, payment method, and funding and possession timing. Verify payment instructions with your Loan Officer before sending funds.
Your next step: Follow our pre-approval-to-closing guide and keep the final loan documents.
Let’s map out your next move.
Talk with an FHL mortgage broker about your benefit, your budget, and the home you’re considering.
General educational information. Eligibility, approval, terms, costs, and property requirements vary. Your mortgage broker will provide guidance based on your individual profile. Future Home Loans is not affiliated with or endorsed by the Department of Veterans Affairs or any government agency.