The core requirements for a VA loan

To get a VA home loan, you need three things: a Certificate of may be able to access from the Department of Veterans Affairs, a valid income that a lender will verify, and a credit score that meets the lender's standard (usually 620 or higher, though some lenders go lower). You do not need a down payment, and you do not need to have perfect credit — VA loans are built for borrowers who would struggle to get conventional mortgages.

The Certificate of may be able to access is the document that proves you served long enough to earn the benefit. Without it, no lender will touch your application. The good news is that getting one is free and takes a few days to a few weeks, depending on how you request it.

Beyond those three things, you need to be a real person buying a real house — not an investor, not a second home. The property has to be your primary residence, and it has to pass a VA appraisal, which is stricter than a conventional appraisal in some ways (the house has to be safe and in decent condition) but not in others (the appraiser does not care if you overpay).

Key Takeaways

  • You must have a Certificate of may be able to access from the VA, which you can request free through VA.gov, by mail, or through your lender.
  • Your income must be stable enough for a lender to verify, and most lenders want a credit score of 620 or higher, though some accept lower scores.
  • The property must be your primary residence, not an investment or vacation home, and it must pass a VA appraisal.
  • You do not need a down payment, and you do not need to have served recently — may be able to access depends on length of service, not discharge date.
  • A VA loan does not require mortgage insurance, which saves you hundreds of dollars per month compared to a conventional loan with less than 20 percent down.

How to get your Certificate of may be able to access

The Certificate of may be able to access is a one-page document from the VA that confirms you served long enough. You can request it three ways: online through VA.gov (fastest, usually a few days), by mail to the VA Regional Office, or by asking your lender to request it on your behalf (lenders can pull it electronically).

To request it yourself online, go to VA.gov, sign in with your login credentials, and look for the "Certificate of may be able to access" tool under the benefits section. You will need your Social Security number and discharge papers. If you do not have your discharge papers handy, you can request those separately from the National Archives, but that takes longer.

If you served on active duty, you are likely may be able to access. The VA counts active duty, active duty for training, and certain reserve and National Guard service. The length varies by era — someone who served during the Gulf War has different requirements than someone who served in peacetime — but most people who served more than 90 days on active duty will may have access to. If you were dishonorably discharged, you will not.

Income and employment verification

Lenders will ask for recent pay stubs, tax returns, and a letter from your employer confirming you still work there. If you are self-employed, expect to provide two years of tax returns and possibly a profit-and-loss statement. If you are retired or on disability, you will need documentation of that income — a Social Security statement, a VA disability letter, or a pension statement.

The lender is checking two things: that your income is real and that it is likely to continue. A job you have held for two years looks better than one you started last month. A seasonal job or a contract position may require extra documentation to prove it will keep paying you. If you changed jobs recently, bring a letter from your new employer saying you are hired and what your salary will be.

Your debt-to-income ratio — the percentage of your monthly income that goes to debt payments — usually cannot exceed 41 percent. Some lenders will go to 50 percent if your credit is strong and your income is stable, but 41 is the standard. This includes the new mortgage payment, car loans, credit cards, student loans, and child support.

Credit score and credit history

Most VA lenders want a credit score of 620 or higher. Some will go down to 580 or 600 if you have a strong income and a good reason for a lower score (a medical debt, a job loss you recovered from). A few lenders specialize in lower scores, but they charge higher interest rates to offset the risk.

The lender will pull your full credit report and look at the pattern, not just the number. A single missed payment from five years ago is less damaging than multiple recent late payments. Collections accounts, charge-offs, and foreclosures will make approval harder, but they do not automatically disqualify you — the lender wants to see that you have recovered and that the problem was temporary.

If you have no credit history at all, some lenders will work with you using alternative credit (rent payments, utility bills, phone bills) to build a picture of your payment behavior. This takes longer and may require a co-signer, but it is possible.

Property requirements and the VA appraisal

The house you buy must be your primary residence — the place where you live most of the year. You cannot use a VA loan to buy a rental property, a vacation home, or an investment. If you already own a home with a VA loan, you can use your entitlement again to buy another primary residence, but only one VA loan per property at a time.

The property must pass a VA appraisal, which is different from a conventional appraisal. The VA appraiser checks that the house is safe, that the roof is not about to fail, that the plumbing and electrical work, and that the foundation is sound. The appraiser also makes sure you are not overpaying — the appraisal value cannot be lower than the purchase price, or the deal falls apart.

The VA appraisal is stricter about safety than a conventional appraisal. A house with peeling lead paint, a roof with visible damage, or a basement that floods will fail. A house that is old or quirky but safe will pass. If the house fails, the seller has to fix the problems before you close, or you can walk away.

Funding fee and closing costs

Most VA loans charge a funding fee, which is a one-time payment to the VA that covers the cost of the program. The fee is usually 2 to 3 percent of the loan amount for a first-time user, and it goes down if you put money down. If you are a surviving spouse, a Purple Heart recipient, or receiving VA disability compensation, you may not have to pay it.

The funding fee is rolled into your loan, so you do not pay it upfront — it just increases your loan balance by a few thousand dollars. Over a 30-year mortgage, that adds up to maybe $50 to $100 per month, depending on the loan size.

You are responsible for closing costs like title insurance, appraisal fees, and recording fees, though the seller can pay some or all of them as part of the negotiation. VA loans have a limit on how much the seller can contribute, but it is usually high enough that sellers will cover most closing costs if the market is competitive.

Debt-to-income ratio and monthly payment limits

Your debt-to-income ratio is the percentage of your gross monthly income that goes to debt. If you make $5,000 a month and your debts (including the new mortgage) total $2,000, your ratio is 40 percent. Most lenders cap this at 41 percent, which means your new mortgage payment plus all other debts cannot exceed 41 percent of what you earn before taxes.

This is where many borrowers run into trouble. You might be approved for a $400,000 loan based on the property value, but your debt-to-income ratio might only support a $300,000 loan. The lender will approve you for the smaller amount. If you want to borrow more, you have to pay down other debts first.

Some lenders will stretch to 50 percent if your credit is excellent and your income is very stable, but this is rare and usually requires a compensating factor — a large savings account, a strong co-signer, or a significant down payment.

Frequently Asked Questions

Do I have to be recently discharged to use a VA loan?

No. There is no time limit on when you served. A veteran who served 30 years ago and a veteran who was discharged last month have the same access to VA loans, as long as they meet the service length requirement. The discharge date does not matter — only the length of service.

Can I use a VA loan to buy a second home or investment property?

No. VA loans are only for primary residences — the house where you live most of the year. You cannot use the benefit to buy a rental property, a vacation home, or a second residence. If you already own a home with a VA loan and want to buy another primary residence, you can use your entitlement again, but you must move into the new house.

What happens if the house fails the VA appraisal?

The seller has to fix the problems before closing, or you can walk away from the deal without penalty. You are not obligated to buy a house that does not meet VA standards. If the seller refuses to fix it, your earnest money is returned and the deal ends.

Can I get a VA loan with a credit score below 620?

Some lenders will work with scores as low as 580 or 600, especially if you have strong income and a good reason for the lower score. You may pay a higher interest rate, and the approval process will take longer. Ask your lender what their minimum is — it varies.

Do I have to pay mortgage insurance on a VA loan?

No. VA loans do not require mortgage insurance, even with zero down payment. This is one of the biggest advantages over conventional loans. You will pay a funding fee instead, which is a one-time cost rolled into the loan, but no monthly insurance payment.