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VA Home Loans: Eligibility, Entitlement and Your Questions Answered

A VA home loan is one of the most valuable benefits of military service, and one of the most misunderstood. This guide covers who qualifies, how your entitlement works, what the loan costs and the questions we hear most from veterans, service members and surviving spouses.

Reviewed by Patriot Home Mortgage compliance, October 2026 · 4 min read

How a VA loan works

The Department of Veterans Affairs doesn’t usually lend the money itself. You borrow from a private lender, and VA guarantees part of the loan. That guarantee protects the lender if the loan goes unpaid, which is why VA loans can offer terms most other loans can’t:

  • No down payment in most cases, as long as the price isn’t above the appraised value.
  • No monthly mortgage insurance, whatever your down payment.
  • Fewer closing costs, and the seller can pay some of them.

Who is eligible

Eligibility depends on your service, not your income. In general, these groups can qualify:

  • Veterans who meet VA’s minimum active-duty service requirement and were discharged under conditions other than dishonorable
  • Active-duty service members who have served the minimum period
  • National Guard and Reserve members who meet the service requirement for their component
  • Surviving spouses who receive or are eligible for VA Dependency and Indemnity Compensation (DIC), and spouses of service members missing in action or held as prisoners of war

The exact length of service depends on when and how you served. VA lists every period on its eligibility page.

Your Certificate of Eligibility

Lenders confirm your eligibility with a Certificate of Eligibility (COE). You can request one from VA, but most borrowers let their loan officer pull it electronically, often in minutes.

Understanding entitlement

Your entitlement is the amount VA will guarantee on your behalf. It determines how much you can borrow without a down payment.

Your situation What it means for your loan
Full entitlement (never used, or fully restored) No VA loan limit. Since 2020, VA sets no maximum for borrowers with full entitlement; your lender decides what you qualify for.
Remaining entitlement (a VA loan is still open) A county loan limit applies to the guarantee. Above it, you may need a down payment.

The old $417,000 figure no longer applies. Some websites still quote a VA loan limit of $417,000. The Blue Water Navy Vietnam Veterans Act removed the limit for borrowers with full entitlement starting January 1, 2020.

If you still have a VA loan open, VA’s loan limits page shows how remaining entitlement is calculated.

The VA funding fee

Most borrowers pay a one-time VA funding fee, which keeps the program running without monthly mortgage insurance. The percentage depends on your down payment and whether you’ve used a VA loan before. You can pay it at closing or add it to the loan.

You don’t pay the funding fee if you receive VA compensation for a service-connected disability, are eligible for that compensation but receive retirement or active-duty pay instead, are a surviving spouse receiving Dependency and Indemnity Compensation, or are an active-duty service member who has received the Purple Heart. Current rates and the full exemption list are on VA’s funding fee page.

Credit and income

VA doesn’t set a minimum credit score. Patriot Home Mortgage’s minimum for a VA loan is currently 580 (subject to change), and above that we look at the whole file: your service, your income and your payment history often matter more than the score alone.

VA also looks at residual income, the money left each month after your mortgage, debts and basic living costs. It’s a practical test of whether the payment fits your life, and it’s one reason VA loans perform so well.

Common questions

How many VA loans can I use?

As many as you need over your lifetime. Your entitlement comes back once a VA loan is paid off and the home is sold. You can also restore it one time while keeping the home, if the loan is paid off.

Can I have two VA loans at the same time?

Often, yes. If you’ve kept a home with a VA loan, for example after a move, your remaining entitlement may cover a second VA loan. A loan officer can calculate exactly what’s available.

Do I have to live in the home?

Yes. A VA loan is for a home you’ll live in as your primary residence, and you’ll generally need to move in within a reasonable time after closing. If you’re deployed, a spouse or dependent child living in the home can satisfy the requirement.

Can I buy a multi-unit property?

Yes, up to four units, as long as you live in one of them.

Does my VA benefit expire?

No. Once you’re eligible, you keep that eligibility for life.

Can someone take over my VA loan if I sell?

VA loans can be assumed by a qualified buyer with lender approval. If the buyer isn’t a veteran using their own entitlement, part of yours stays tied to the loan until it’s paid off.

Can I refinance with VA?

Yes. VA offers a streamlined refinance for existing VA loans (an Interest Rate Reduction Refinance Loan) and a cash-out refinance. A loan officer can tell you whether either makes sense for you.

Talk to a Patriot loan officer

Every situation is different, and a short conversation is the quickest way to know what fits yours.

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This article is general information, not an offer to lend or a commitment to lend. All loans are subject to credit approval, underwriting and property valuation. Belem Servicing LLC, NMLS ID #715386 (NMLS Consumer Access).

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