For veterans and service members
Zero down, no monthly mortgage insurance, and competitive rates - the VA loan is a benefit you earned, and it can get you into a home faster than almost anything else. I help veterans use it well in Staten Island and Brooklyn. Nearly a decade full time, $40M+ closed, 80+ five star reviews.
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs and made available to eligible veterans, active duty service members, and certain surviving spouses. The VA does not lend you the money directly - a regular lender does - but the VA guarantee lets that lender offer terms most buyers never see.
For a lot of buyers I work with, it is simply the strongest financing option on the table. Here is why.
The one part of a VA loan that trips people up is the funding fee. It is a one time cost paid to the VA - not a lender profit - and it helps keep the program alive for the next generation of veterans. Because there is no down payment and no monthly insurance, this fee is how the program stays self supporting.
A few things worth knowing before you shop:
This page is educational - your exact eligibility, fee, and numbers come from a VA experienced lender. My job is to make sure you are talking to the right one early, so nothing surprises you later. Ready to look at homes? See how I work with buyers, browse Staten Island and Brooklyn communities, or grab a tool from my resources.
VA loan questions
For most eligible veterans and service members, yes - a VA loan can finance 100% of the purchase price with no down payment, as long as the home appraises for the sale price and you qualify. That is one of the biggest reasons VA buyers can get into a home faster. You will still want cash for closing costs and a reserve, so I connect you with a VA savvy lender early to map out your real numbers.
No. Unlike FHA and low down conventional loans, VA loans do not carry monthly private mortgage insurance (PMI). That can save you hundreds of dollars every month compared to other zero and low down programs. It is one of the reasons a VA loan often beats the alternatives on total monthly cost.
The funding fee is a one time cost paid to the VA that helps keep the program running for future veterans. It is usually a percentage of the loan amount, and it varies based on your down payment and whether it is your first VA loan use. Many buyers roll it into the loan instead of paying it in cash. Some veterans, including many with a service connected disability rating, may be exempt. Your lender confirms your exact fee and any exemption.
Yes. VA loan benefits can be reused over your lifetime. Once you sell a home and pay off the prior VA loan, your full entitlement is typically restored for the next purchase. Even with an existing VA loan, remaining entitlement can sometimes be used. A VA experienced lender reviews your Certificate of Eligibility and tells you exactly where you stand.
Let's get you talking to a VA experienced lender and looking at the right homes. It starts with one quick conversation.