Discover the Power of Your VA Home Loan, Buy with $0 Down!
Your VA Home Loan is one of your most powerful benefits! Eligible buyers can purchase a home with $0 down, no private mortgage insurance (PMI), and competitive interest rates, making homeownership more affordable and accessible. It is always a good idea to weigh the option of buying before securing a rental. In some cases, the same house could cost MORE to rent vs. buying.
What is a VA Home Loan?
A VA Home Loan is a mortgage program backed by the Department of Veterans Affairs that helps eligible service members, veterans, and some surviving spouses buy a home with more favorable terms than conventional loans.
Do VA loans really allow $0 down?
Yes. Eligible buyers can purchase a home with $0 down payment.
Do I have to be a first-time homebuyer?
No. VA loans can be used multiple times throughout your life, as long as you have remaining VA entitlement.
Who is eligible for a VA loan?
Eligibility is based on service history. This may include:
- Active-duty service members
- Veterans
- National Guard or Reserve members (with qualifying service)
- Certain surviving spouses
A Certificate of Eligibility (COE) confirms eligibility and will be confirmed at the time of Pre-Approval.
What credit score do I need?
The VA does not set a minimum credit score, but most lenders look for a score no less than 580–620, depending on the lender and overall financial profile.
Can I use a VA loan more than once?
Yes. Many service members use their VA loan benefit multiple times!
Can VA loans be used for new construction?
Yes. VA loans can be used for new construction, existing homes, and some condos—provided the property meets VA guidelines.
Do VA loans have higher interest rates?
No. VA loans often offer competitive or lower interest rates compared to conventional loans, especially for buyers with lower down payments.
Can I use a VA loan during or after a PCS?
Absolutely. VA loans are commonly used during PCS moves and are designed to support military mobility and stability. There is not a time restriction on when (or where) you use your VA loan.
Free & Easy Mortgage Calculator
Mortgage calculators are a great starting point, but they don’t account for VA benefits, local taxes, or lender programs. If you’d like a more accurate picture of what to expect when buying near Fort Leonard Wood, let’s walk through it together and we will connect you with a local lender.