VA loans offer 100% financing (zero down), no monthly PMI, and competitive rates for active duty, veterans, reservists, and qualifying spouses. You can use your VA benefit multiple times, even simultaneously in some cases. As of 2026, there is no maximum loan amount with full entitlement, though loan limits still apply to second-tier entitlement situations. Most LA lenders do not specialize in VA loans, which is why many qualified borrowers never hear about their best option.
VA Loan: A mortgage backed by the U.S. Department of Veterans Affairs, available to eligible service members, veterans, reservists, and surviving spouses. Zero down payment, no mortgage insurance, competitive rates, and the benefit can be reused for life. Daryn Fillis is VA-approved through NEO Home Loans.
Five VA loan features worth putting into the full plan.
Zero down payment
Eligible borrowers with sufficient entitlement may be able to buy with no down payment when the price does not exceed the appraised value. Loan size, entitlement, appraisal, and lender requirements still apply.
No monthly PMI
VA-backed loans do not require monthly PMI or MIP. Some borrowers may owe a one-time VA funding fee unless exempt, and every option should still be compared on total cost.
Competitive interest rates
VA loans typically price below conventional rates. The government backing reduces the lender's risk, and that savings gets passed to you on the rate sheet.
Sellers can cover all closing costs
A seller may pay allowable closing costs, while separate seller concessions are subject to VA limits. Combined with zero down for an eligible borrower, that can reduce—but not always eliminate—cash needed at closing.
The benefit is yours for life
Entitlement may be restored after a prior VA loan is paid off, and remaining entitlement may support another purchase in some cases. Ask for a calculation based on the Certificate of Eligibility, prior use, property, and loan amount.
More people qualify for VA loans than realize they do.
VA loan eligibility extends well beyond active duty service members. If any of the following apply to you, your spouse, or your parent, the benefit may be available:
Eligibility is confirmed through the Certificate of Eligibility (COE). Most lenders can pull yours on your behalf in minutes. If you don't know whether you qualify, that's the first call to make.
The benefit is valuable. The strategy is deciding how to use it.
VA buyers come to me regularly after being told they need a down payment, that their disability income doesn't count, that their certificate of eligibility is "too complicated," or that closing costs will run them thousands. None of that is necessarily true.
Most of those conversations end the same way: the borrower thought their benefit was a backup plan. It was the right plan from the start.
A VA-backed loan can offer eligible borrowers no down payment, no monthly PMI, competitive terms, and seller-paid allowable costs. Eligibility, entitlement, appraisal, lender standards, closing costs, and any applicable funding fee still shape the final structure.
The benefit is valuable. The strategy is deciding how to use it without overlooking the tradeoffs.
Five VA loan misconceptions to examine before choosing.
"VA loans are slow and complicated. We can close faster with conventional."
VA loans close in the same timeframe as conventional loans when the lender knows the program. The complexity is on the lender's side, not yours.
"You'll need a down payment to be competitive."
A fully underwritten VA pre-approval competes successfully against cash and conventional offers when the listing agent understands what they're looking at. The right lender presents the offer correctly.
"Your VA disability income won't fully count for qualifying."
VA disability compensation is fully usable as qualifying income, and in many cases it can be grossed up because it's tax-free. That increases your buying power, not decreases it.
"You can only use your VA benefit once."
The benefit renews when a VA loan is paid off. In some scenarios you can use it on multiple properties at once through second-tier entitlement. The benefit is yours for life.
"Closing costs will run you thousands out of pocket."
Sellers may pay allowable closing costs, and separate seller concessions are subject to VA rules. Combined with zero down for an eligible borrower, this can reduce the cash needed at closing.