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VA Mortgages: Home Loans Built for Veterans and Military Families

va-section

What Is a VA Mortgage?

A VA mortgage is a government-backed home loan program offered through private lenders and guaranteed by the U.S. Department of Veterans Affairs (VA). It is designed to help veterans, active-duty service members, and eligible surviving spouses become homeowners with no down payment, no private mortgage insurance (PMI), and competitive interest rates.

Why Choose a VA Home Loan?

VA loans provide significant benefits not available with other mortgage programs:
  • $0 down payment required
  • No PMI, even with less than 20% down
  • Competitive interest rates
  • Flexible credit requirements
  • Limited closing costs
  • No prepayment penalties
  • Lifetime benefit – use it more than once
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Types of VA Loan Options

1

VA Purchase Loan

The most common VA loan, used to buy a primary residence. Offers 100% financing with no down payment and no PMI.

Ideal for: Veterans and active-duty buyers looking to purchase a home with favorable terms.

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2

VA Cash-Out Refinance

This option allows homeowners to refinance their current mortgage (VA or non-VA) and take out cash using their home equity.

Ideal for: Borrowers who want to pay off debt, cover major expenses, or convert a conventional loan to a VA loan.

3

VA Interest Rate Reduction Refinance Loan (IRRRL)

Also known as a VA Streamline Refinance, this loan helps current VA borrowers lower their interest rate with minimal paperwork, no appraisal, and no income verification in most cases.

Ideal for: Veterans with an existing VA loan looking to reduce monthly payments or switch from an adjustable to a fixed rate.

4

VA Construction Loan

Allows qualified borrowers to finance the construction of a new home. These are less common and may require a lender that specializes in VA construction lending.
Ideal for: Veterans who want to build a custom home rather than buy an existing one.

Who Is Eligible for a VA Loan?

To qualify for a VA mortgage, you must meet at least one of the following:
  • Served 90 consecutive days during wartime
  • Served 181 days during peacetime
  • Served 6+ years in the National Guard or Reserves
  • Be the spouse of a service member who died in the line of duty or as a result of a service-related disability

You’ll need a Certificate of Eligibility (COE) to apply.  If you don’t have yours, we can help pull it for you.

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VA Loan Requirements

Although VA loans are more flexible than other options, we still require:

  • Credit score of 580–620+
  • Stable income and/or employment history
  • Debt-to-income ratio typically below 41%
  • Primary residence occupancy

VA Loans vs. Other Mortgage Types

Feature
VA Loan
FHA Loan
Conventional Loan
Down Payment
0%
3.5%
3–20%
Credit Score
580–620+
580+
620+
PMI Required
No
Yes
Yes (under 20% down)
Loan Limit
No official limit (but lender caps may apply)
County limits apply
$766,550 conforming limit (2025)
Eligible Use
Primary residence only
Primary residence
Primary, secondary, or investment
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Benefits of the VA Home Loan Program

  • More buying power with no money down
  • No monthly PMI, saving hundreds per month
  • Easier to qualify, even with past credit challenges
  • Flexible refinancing options
  • Reusable benefit, even after selling your home. You can also have more than one VA loan in certain circumstances.

Get Started with Your VA Mortgage

Whether you’re purchasing your first home, refinancing your existing mortgage, or exploring a cash-out option, our VA loan experts are here to help.

Check Your Eligibility or Contact Us to Help you Check your COE

Call us to Get Pre-Qualified Today

Let us help you maximize your hard-earned benefits and achieve your homeownership goals.
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© 2025 American Pacific Mortgage Corporation. For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs, and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.

This site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.

CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIALMORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.”

THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIALMORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV

© 2025 APM. For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs, and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.

This site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.

Licensed as Preferred Rate in AL, AZ, CA, CO, FL, GA, IL, IN, KS, KY, LA, MA, MD, MI, MO, MS, NC, OK, OR, TN, TX, VA, WA, and WI. Preferred Rate operates under American Pacific Mortgage in NV. AZ BK 0906702. CA #01215943. Regulated by the Colorado Division of Real Estate. Georgia Residential Mortgage Licensee. NV MB 164. Licensed under the Oregon Consumer Finance Act. OK MLO13426.

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The Department of Financial and Professional Regulation (Department) evaluates our performance in meeting the financial services needs of this community, including the needs of low-income to moderate-income households. The Department takes this evaluation into account when deciding on certain applications submitted by us for approval by the Department. Your involvement is encouraged. You may obtain a copy of our evaluation. You may also submit signed, written comments about our performance in meeting community financial services needs to the Department.” (Source: P.A. 101-657, eff. 3-23-21.)

CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIALMORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.”

THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIALMORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV