VA Loan Guides
Plain-English explanations of how VA home loans work, checked against official VA sources.
Where to start
These guides explain the rules of the VA home loan program in the order most people need them. Pick the path that matches where you are:
- Buying your first home with a VA loan. Start with who qualifies, get your Certificate of Eligibility, then read the step-by-step process and what to expect in closing costs. Before you talk to a lender, check how the 41% DTI benchmark and the residual income test apply to you.
- Already have a VA loan. Compare the IRRRL streamline refinance with a cash-out refinance, or see how to use the benefit a second time after a PCS move.
- Deciding between loan types. Read VA vs. FHA and VA vs. conventional, then run your own numbers in the matching calculators below.
How these guides are written
Every guide is written by Dylan Castro from primary sources: VA.gov, the VA Lenders Handbook (VA Pamphlet 26-7), and HUD and CFPB publications. Each page lists its sources with links, shows the month it was last reviewed, and uses worked examples calculated with the same formulas as our calculators, which are explained on How we calculate. The guides are educational, not financial advice: your lender's Loan Estimate and the VA have the final word on your loan. See the editorial policy for how pages are checked and corrected.
Guides
VA Loan vs. Conventional Loan
Which one wins for a primary residence, and when conventional makes sense.
VA Loan Requirements: Who Qualifies
Service requirements, the Certificate of Eligibility, and what lenders check.
VA Loan Closing Costs
What you pay, what you can finance and how seller credits work.
VA Loan Limits and Entitlement
How much you can borrow and why full entitlement matters.
VA IRRRL (Streamline Refinance)
How the VA Interest Rate Reduction Refinance Loan works and when it pays off.
VA Loan Down Payment
Do you need $0 down, and when does putting money down help?
VA Funding Fee Exemption
Who does not have to pay the funding fee, and how much it saves.
VA Loan vs. FHA Loan
How they compare on down payment, mortgage insurance and eligibility.
VA Loan Credit Score Requirements
Why the VA sets no minimum score, what lenders look at instead, and how to improve your odds.
VA Home Loans for Surviving Spouses
Who qualifies, which form to use and why the funding fee is often waived.
How to Get Your VA Certificate of Eligibility
The three ways to request a COE and the documents you need for your situation.
Buying a Multifamily Home With a VA Loan
Duplexes, triplexes and fourplexes: the occupancy rule and how the numbers work.
VA Loan Assumption
How taking over a seller's VA loan works, who can do it and what happens to entitlement.
VA Residual Income
The VA's leftover-income test, the official table by region and family size, and a worked example.
VA Debt-to-Income Ratio
The VA's 41% benchmark, how lenders calculate your ratio and when you can go higher.
VA Cash-Out Refinance
How to take equity out or move a non-VA loan into a VA loan, with a worked example.
VA Loans After Bankruptcy or Foreclosure
Typical waiting periods, what lenders look for and how a past VA loss affects entitlement.
VA Appraisal and Minimum Property Requirements
What the VA appraiser checks, the Notice of Value, Tidewater and what happens if the value comes in low.
Using a VA Loan a Second Time
Restoring entitlement, keeping your first home as a rental, PCS moves and the second-use funding fee.
VA Loan Process: Step by Step
From the COE to the keys: each stage, what you do and how long it usually takes.
Free calculators
VA Loan Affordability Calculator