VA Loans: A Comprehensive Guide for Every State

VA loans are one of the best benefits available to Veterans, active-duty service members, and surviving spouses — offering a path to homeownership with $0 down, no PMI, and flexible credit requirements. Backed by the U.S. Department of Veterans Affairs, these loans are designed to make buying a home easier and more affordable for those who’ve served.

Whether you’re just getting started or ready to apply, our state-by-state VA loan guides break everything down in plain English. From eligibility and income rules to unique local perks for Veterans, we’ve got you covered.

Use the links below to explore your state’s VA loan guide and learn how to take full advantage of this powerful benefit.

Download our complete VA Loan PDF Here

What are VA Loans?

VA loans are government-backed mortgage loans designed to help veterans, service members, and their families purchase a primary residence. The Department of Veteran’s Affairs guarantees a portion of the loan, reducing the risk for lenders and allowing eligible borrowers to access better loan terms than conventional mortgage products.

Key Features of VA Loans:

• No down payment required (for most borrowers)
• No private mortgage insurance (PMI)
• Competitive interest rates
• Flexible credit requirements
• Limits on closing costs

VA Loan Guides by State

• Montana
• New Jersey
• New York
• North Carolina
• Ohio
• Oklahoma
• Oregon
• South Carolina
• Tennessee
• Texas
• Utah
• Washington

What Are the VA Loan Requirements?

To qualify for a VA loan, borrowers must meet eligibility criteria set by the U.S. Department of Veterans Affairs and underwriting guidelines from private lenders. These include minimum credit scores, income thresholds, a valid Certificate of Eligibility, and intent to occupy the home as a primary residence.

• Credit Score: Most VA lenders require a minimum 580 score, though lower may be accepted with strong financials.
• Debt-to-Income Ratio: Preferably below 41%, but flexible if backed by solid residual income.
• Certificate of Eligibility (COE): Confirms military service eligibility, obtainable via VA eBenefits.
• Primary Residence Rule: Home must be occupied by the borrower within 60 days of purchase.
• VA Funding Fee: A one-time fee (often waived for disabled Veterans) that supports the loan program without taxpayer burden (va.gov).

Credit Score Requirements for VA Loans

The VA doesn’t mandate a minimum credit score, but most lenders require at least a 580 FICO. Stronger financial factors like low debt or high savings may allow approval with a lower score.

• Minimum credit score typically starts at 580 with VA lenders.
• Compensating factors like income and savings can offset lower scores.
• Good payment history and low credit utilization help increase approval chances.

VA Loan Income and DTI Guidelines

Lenders evaluate your debt-to-income ratio (DTI) to assess affordability. Although 41% is the preferred max, VA loans allow exceptions based on residual income and stable financials.

• Target DTI is under 41%, but exceptions exist with strong residual income.
• Use our VA DTI calculator to check eligibility.
• Income must be stable, documentable, and consistent.

How to Get Your VA Certificate of Eligibility (COE)

The COE confirms your eligibility to use the VA loan benefit based on military service. You can apply online through the VA or have your lender request it during preapproval.

• Verifies service history and loan benefit entitlement.
• Accessible via the VA eBenefits portal.
• Required before final loan processing and underwriting.

VA Occupancy Requirements

VA loans require that you live in the home as your primary residence. You typically must move in within 60 days of closing; second homes and investment properties are not allowed.

• Property must be your main home, not a rental or vacation house.
• You must occupy the home within a reasonable time after closing—usually 60 days.
• This is a core VA loan condition per va.gov.

What Is the VA Funding Fee? Copied!

The VA funding fee is a one-time charge that helps fund the loan program and reduce taxpayer burden. It can be rolled into your loan, and most Veterans receiving disability compensation are exempt.

• Required unless exempt due to service-connected disability.
• Varies based on loan type, amount down, and usage history.
• Can be financed into the loan to reduce upfront costs.

Top Benefits of Using a VA Loan

VA loans offer unmatched advantages for eligible Veterans and service members. These include zero down payment, no private mortgage insurance, competitive interest rates, and flexible credit standards, making homeownership more accessible and affordable.

• Zero Down Payment: Finance 100% of the home’s value without saving tens of thousands up front.
• No PMI: Avoid monthly private mortgage insurance entirely, unlike conventional loans with <20% down.
• Lower Interest Rates: Typically lower than FHA or conventional due to VA backing.
• Lenient Credit Guidelines: Past credit issues don’t automatically disqualify you.
• Limited Closing Costs: VA limits fees and allows up to 4% seller concessions (see more).

Buy a Home with No Down Payment

VA loans let you purchase a home with zero down—an exclusive benefit that dramatically reduces upfront barriers to homeownership.

• No need to save for a 5–20% down payment.
• Buy sooner and compete better in hot markets.
• Ideal for first-time buyers and those with limited savings.

Skip Private Mortgage Insurance (PMI)

Unlike conventional loans, VA loans don’t require PMI—even with 0% down. This saves you hundreds per month and thousands over the life of the loan.

• Eliminates extra monthly insurance charges.
• No need to refinance just to remove PMI.
• Keeps monthly payments lower from the start.

Access Lower Interest Rates

Thanks to the VA’s backing, lenders often offer lower interest rates on VA loans, which means lower monthly payments and significant long-term savings.

• Interest rates are usually below conventional averages.
• Lower cost of borrowing over the loan’s life.
• May improve your loan approval chances by reducing monthly obligations.

More Flexible Credit Standards

VA lenders consider your entire financial picture, allowing borrowers with less-than-perfect credit histories to still qualify with competitive terms.

• Collections or missed payments may not block approval.
• Lenders may approve with lower scores if income and savings are strong.
• Veteran-friendly guidelines increase loan access.

Save on Closing Costs

The VA limits what lenders can charge in fees, and sellers can contribute up to 4% to help cover closing expenses—reducing out-of-pocket costs for Veterans.

• VA caps certain lender and third-party fees.
• Seller concessions can reduce cash needed at closing.
• More cost-effective than many other loan types.