No down payment. No PMI. Competitive rates. If you've served, this benefit is yours. Here is how to use it.
The VA Home Loan Benefit is a mortgage program guaranteed by the U.S. Department of Veterans Affairs for eligible service members, veterans, and surviving spouses. The VA doesn't lend the money directly - lenders like Invest West Mortgage originate the loan, and the VA guarantees a portion, allowing us to offer you superior terms.
Because the VA guarantee reduces lender risk, qualified borrowers receive 0% down payment, no private mortgage insurance, and rates that are typically 0.5%-1% lower than comparable conventional loans. Over the life of a loan, this can mean tens of thousands of dollars in savings.
And unlike many benefits, your VA entitlement is reusable - you can use it multiple times throughout your life.
You must have sufficient service history and obtain a Certificate of Eligibility (COE). We can request your COE for you.
Surviving spouses of veterans who died in service or from a service-connected disability may also be eligible. Contact us to review your specific situation.
Buy a $600,000 home without putting a dollar down. This is a game-changer that lets veterans compete immediately without years of saving.
PMI typically costs $100-$400/month. VA loans never require it, regardless of your down payment amount. Over 30 years, that's $36,000-$144,000 in savings.
The VA guarantee allows lenders to offer rates typically 0.5% to 1% below comparable conventional loans - saving thousands over the life of the loan.
The VA doesn't set a minimum credit score. Individual lenders do - but it's typically more flexible than conventional requirements, especially for veterans with unique credit situations.
This isn't a one-time benefit. Your entitlement restores when you sell or refinance your VA loan, meaning you can use it for your next purchase and the one after that.
The VA offers assistance to veterans experiencing financial hardship, including working with servicers on your behalf to find alternatives to foreclosure.
Entitlement is the amount the VA guarantees on your loan. Most veterans with full entitlement have no loan limit.
The VA charges a one-time funding fee instead of monthly PMI. It's typically rolled into the loan - and many veterans are exempt.
| Loan Type | Down Payment | First Use | Subsequent Use |
|---|---|---|---|
| Purchase / Construction | 0% | 2.15% | 3.30% |
| Purchase / Construction | 5%-9.99% | 1.50% | 1.50% |
| Purchase / Construction | 10%+ | 1.25% | 1.25% |
| Cash-Out Refinance | N/A | 2.15% | 3.30% |
| IRRRL (Streamline Refi) | N/A | 0.50% | 0.50% |
The following veterans pay $0 funding fee: Veterans receiving VA disability compensation • Veterans rated as service-connected disabled but receiving active duty pay • Surviving spouses of veterans who died in service or from a service-connected disability • Service members who received a Purple Heart and are on active duty at closing. If you think you may be exempt, we'll verify your status during the application process.
We'll request your Certificate of Eligibility (COE) directly from the VA using your DD-214 or service records - usually takes minutes online.
We review your income, assets, and credit to issue a VA pre-approval letter. Your agent will use this to negotiate your offers with confidence.
Once under contract, a VA-certified appraiser assesses the property. The home must meet VA minimum property requirements (MPRs) for safety and habitability.
Underwriting, closing disclosure, and closing day. We average 21 days from application to keys - with full transparency throughout.
Free pre-approval, same-day COE requests, and a team that understands the VA process inside and out.