VA Loans

mortgage loans for veterans and active-duty military

Veterans Affairs (VA) loans provide special financing just for veterans and active-duty members of our military — our small way of saying “thank you.”

VA loans are a special type of mortgage option designed to provide long-term home financing to active military members and veterans. In many instances, their interest rates can be better than other conventional loans, saving you money in the long run. Plus, no down payment is required, which keeps more cash in your pocket now. It’s the best of both worlds.

These home loans are guaranteed by the United States Department of Veterans Affairs and offered by participating approved lenders like Waterstone Mortgage. Because they are backed by the government, VA loans have more flexible requirements, like a wider credit score threshold than many other loan programs.

benefits of using a VA loan

  • No down payment required*
  • No penalty fee if you pay the loan off early
  • No private mortgage insurance requirements
  • Credit score requirement as low as 580
  • VA may be able to provide some assistance if mortgage payment problems arise
  • Loan limits up to $1.5 million — full VA entitlement required
Did you know?
VA refinance loans are also available for existing VA homeowners. A VA refinance can help you save money on your monthly payments, lower your interest rate, or take cash out of your equity.

who is eligible for a VA loan?

You may qualify for a VA loan if you are a:

  • Veteran
  • Active-duty military member
  • Reservist or member of the National Guard
  • Surviving spouse of a veteran

how do i get a VA loan?

In order to apply for a VA-sponsored loan, you will need to get a Certificate of Eligibility (COE). Your COE shows your mortgage lender that you meet the requirements necessary to get a VA loan (i.e., you’re actually a veteran). Applying for a COE is pretty straightforward and can be done online, through the mail, or through a lender.

Active-duty military members and current National Guard members or Reservists who have never been federal active service will need to present a current statement of service in order to obtain a COE.

Veterans and current or former National Guard members and Reservists that have been activated for federal active service will need to present a DD Form 214 confirming their past service.


A VA loan is a government-insured loan subject to certain qualifications and restrictions. A VA funding fee is typically required, which can be financed into the loan amount. If you are a servicemember on active duty, prior to seeking a refinance of your existing loan, consult your legal advisor regarding the loss of any benefits you are entitled to under the Servicemembers Civil Relief Act or applicable state law. *Full entitlement required for no down payment as well as $1.5M financing.

All loan requests are subject to credit approval as well as specific loan program requirements and guidelines. With Adjustable Rate Mortgage loans, the rate is variable and may increase or decrease every year after the initial fixed rate period based on changes to an index. This could result in an increase in the monthly payment.