VA Home Loans in Maryland, Washington, DC and Virginia
VA home loans are made by approved lenders and partially guaranteed by the U.S. Department of Veterans Affairs. They are available to eligible Veterans, active-duty service members, certain members of the National Guard and Reserves, and some qualifying surviving spouses.
VA Loan Highlights
- Potential 100% financing: VA itself generally does not require a down payment when the borrower has sufficient entitlement and the purchase price does not exceed the appraised value. Lender and transaction requirements still apply.
- No monthly PMI: VA loans do not require private mortgage insurance or a monthly mortgage insurance premium.
- Competitive financing: The VA guaranty can support favorable terms for eligible borrowers.
- Limited borrower costs: VA rules restrict certain fees and allow sellers to pay eligible closing costs and concessions within applicable guidelines.
- Reusable benefit: Eligible borrowers may use the VA home-loan benefit more than once.
- Purchase and refinance options: VA financing includes purchase loans and qualifying refinance programs.
VA Eligibility and the Certificate of Eligibility
A Certificate of Eligibility (COE) confirms that a borrower meets VA service requirements and shows available entitlement. We can often obtain the COE electronically through the VA lender portal. If additional documentation is needed, it may include discharge or service records and VA Form 26-1880.
A COE establishes benefit eligibility, but it does not by itself approve the mortgage. Income, credit, assets, occupancy, appraisal and underwriting requirements must also be satisfied.
Credit and Underwriting
VA does not publish one universal minimum credit score for every VA-guaranteed loan. Approved lenders may establish their own minimums and overlays. Qualification considers the overall credit history, debt-to-income ratio, residual income, employment, assets and automated underwriting findings.
We review the complete file and explain any compensating factors or documentation needed rather than relying solely on a score.
Entitlement and Loan Limits
An eligible Veteran with full entitlement is not subject to a VA-imposed county loan limit, although the borrower must still qualify for the payment and meet the lender’s requirements.
Borrowers with entitlement already in use—or entitlement that has not yet been restored—may still be able to obtain another VA loan. Available entitlement, the property location and the desired loan amount determine whether a down payment is required. We calculate this before you make an offer.
VA Funding Fee
Most VA borrowers pay a one-time funding fee that supports the program and helps preserve the no-monthly-mortgage-insurance benefit. The amount depends on factors including the transaction type, down payment and prior use of the benefit.
Some borrowers are exempt based on qualifying circumstances. The funding fee may generally be financed into a purchase loan, subject to VA requirements.
VA Appraisal and Property Requirements
The VA appraisal establishes value and evaluates whether the property meets VA Minimum Property Requirements. It is not a substitute for a professional home inspection.
Observed safety, structural, sanitation or property-condition issues may require repair or further evaluation before closing. Common examples can include active roof leaks, defective paint on older homes, unsafe electrical conditions, inadequate heat, moisture intrusion or structural concerns.
Termite and Wood-Destroying Insect Inspections
For VA purchase transactions in Maryland, Washington, DC and Virginia, a wood-destroying insect inspection is commonly required based on VA geographic requirements and the property type. Certain condominium units or other transaction circumstances may be treated differently. Buyers considering a condominium can also review how to check whether a condo is VA approved.
If an inspection appears as a charge on the Closing Disclosure, the lender must receive the report. When the report identifies active infestation, treatment or damage, proof of treatment, repairs, reinspection or—in serious cases—evaluation by a qualified structural professional may be required.
Seller-Paid Costs
VA permits sellers to pay allowable closing costs and certain concessions, but specific limits and definitions apply. The sales contract, appraisal, loan amount and program rules must all be reviewed. We help buyers and real estate agents structure the offer accurately before it is submitted.
Local VA Loan Experience Matters
VA transactions can be competitive when the financing is explained clearly to the listing agent and managed by an experienced local lender. Our team helps with entitlement calculations, the COE, appraisal requirements, repair questions and communication from preapproval through closing.
VA eligibility does not guarantee loan approval. Program requirements, fees and lender guidelines may change. All financing is subject to application, documentation, appraisal and underwriting approval.
