Your VA home loan, made simple.Thank you for your service.

Who can use a VA loan

Eligibility depends on when you served, how long you served, and how you were discharged. In general, these groups can qualify:

• Active duty service members who've served long enough
• Veterans with qualifying service and discharge
• National Guard and Reserve members who meet the service requirements
• Some unremarried surviving spouses, such as spouses of service members who died in service or from a service-connected disability

The easiest way to know for sure is your Certificate of Eligibility (COE). I can usually request it for you online, and it often comes back right away.

What makes a VA loan different

A VA loan works a lot like any other mortgage, with a few big differences that usually work in your favor:

• No monthly mortgage insurance. Most other loans charge it when you put less money down. VA loans don't.
• Flexible guidelines. VA loans can be more forgiving about credit history than many other loans.
• A one-time funding fee. It helps keep the program running, and it can usually be rolled into the loan.
• A VA appraisal. Besides the value, the appraiser checks that the home meets the VA's basic standards for safety and condition.
• Assumable. A future buyer may be able to take over your VA loan with lender approval, which can be a selling point later.

Who doesn't pay the VA funding fee

You may not have to pay the funding fee at all if you:

• Receive VA disability compensation for a service-connected condition
• Are eligible for disability compensation but receive retirement or active-duty pay instead
• Are a surviving spouse receiving Dependency and Indemnity Compensation (DIC)
• Have a proposed or memorandum rating before closing showing you're eligible for compensation
• Are on active duty and have received a Purple Heart

If any of these sound like you, bring your VA award letter and I'll make sure it's applied.

Buying on PCS orders

A PCS move comes with a lot of moving parts. Here's how I help keep the home loan from being one of them:

• Start as soon as you have orders. Your orders help show where you're headed and when.
• Buy before you arrive, if you'd like. I handle the loan by phone, text and online, and you can e-sign most documents from anywhere.
• Plan to live in the home. VA loans are for a home you'll live in. If you're deployed, a spouse living there can often count.
• Deployed at closing? Ask me about closing with a power of attorney.

Coming to Naval Support Activity Mid-South in Millington? Memphis and nearby towns like Millington, Bartlett, Arlington and Atoka are all within an easy drive, and I'm happy to talk through your loan options for any of them.

Using your VA benefit again

Think of your entitlement as the amount the VA guarantees for you. When you sell a home and pay off the VA loan, your full entitlement is usually restored so you can use it again.

In many cases you can even keep your current VA home, maybe as a future rental after a PCS move, and buy your next home with your remaining entitlement. The math depends on your situation, so this is a great one to walk through together.

Already have a VA loan?

If you already have a VA loan, the VA offers a streamline refinance (the IRRRL) that can make refinancing simpler, often with less paperwork than a regular refinance. I'll tell you honestly whether it makes sense for you.