VA Loans Explained

VA loans are a home-financing benefit for eligible veterans, service members and some surviving spouses. Learn how eligibility, the VA funding fee and occupancy rules work.

Turn Times is a licensed mortgage broker, not a lender, and is not affiliated with or endorsed by the VA, FHA, HUD, or any government agency. VA loan program features, eligibility, costs, and lender requirements must be reviewed for the specific borrower and property.

• Eligibility: A Certificate of Eligibility and lender review are required.
• Funding fee: A VA funding-fee consideration may apply and is disclosed for the selected program.
• Mortgage insurance and down-payment considerations: Program treatment depends on eligibility, lender requirements, and the complete scenario.
• Closing costs: Lender and third-party charges are disclosed on the Loan Estimate.

VA loan eligibility is based on your service history. Generally, you qualify if you:

• Meet applicable service-history requirements
• Meet applicable active-service requirements
• Meet applicable National Guard or Reserve requirements
• May qualify as an eligible surviving spouse under applicable program rules

A Certificate of Eligibility may be required. A licensed loan officer can explain how to obtain and review it with the lender.

The VA funding fee is a program-specific charge that can vary based on eligibility and the selected transaction. A lender can explain how it is treated for a particular scenario.

Some borrowers may have different funding-fee treatment. Review the official VA materials and lender disclosures for the complete requirements and costs.