Confirm eligibility and entitlement
A Certificate of Eligibility helps document military service and available entitlement. Jake can help request it and explain how prior VA loan use, restoration of entitlement or an existing VA loan may affect the next purchase.
Understand the payment and cash needed
Zero down does not always mean zero cash at closing. Buyers may still have closing costs, prepaid taxes and insurance, inspection expenses or earnest money to consider. Negotiated seller credits may help with eligible costs, subject to VA and program rules.
Funding fee and exemption
The VA funding fee varies based on the transaction, down payment and prior use of the benefit, and it is often financed into the loan. Eligible Veterans receiving certain disability compensation and some surviving spouses may be exempt; the Certificate of Eligibility is used to document status.
Income, residual income and the property
VA underwriting looks beyond a simple debt ratio and considers residual income—the amount left after major obligations. The home also receives a VA appraisal to assess value and minimum property requirements. An appraisal is not a substitute for an independent home inspection.
This guide is not financial, tax or legal advice; a commitment to lend; or a statement of available loan terms. Program requirements, costs and availability vary, and all loans are subject to applicable underwriting and approval.