Use your VA home loan benefit with a clear plan
VA Home Loans
A VA home loan can help an eligible Veteran, active-duty service member, National Guard or Reserve member, or surviving spouse buy a primary residence. It can also eliminate the down payment and monthly mortgage insurance that come with many other loans.
We pull your Certificate of Eligibility (COE) and review your income, monthly debts, credit, and available funds so you know what price and payment are realistic. Once you find the home, we review the property, appraisal, title, insurance, and remaining loan conditions.
Homeowners who already have a VA mortgage may also use the VA Interest Rate Reduction Refinance Loan (IRRRL), often called a streamline refinance, to lower the rate or payment when the new loan meets the program requirements.
- PBT Bancorp NMLS #257781
- FDIC member bank
- Licensed in all 50 states
- VA purchase and construction specialists
Speak with a VA loan specialist about your loan options.
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What is a VA home loan?
A VA home loan is made by a lender and backed in part by the Department of Veterans Affairs. That guaranty is what can make $0-down financing and no monthly private mortgage insurance (PMI) possible when you have enough entitlement and the home meets the program requirements.
PBT turns the benefit into a purchase plan by reviewing your income, credit, monthly debts, residual income, available funds, and target payment. When you choose the home, we review the occupancy, property, and VA appraisal before the loan moves toward closing.
What are the main VA loan benefits?
The VA benefit can remove two of the biggest barriers to buying a home, the down payment and monthly mortgage insurance. We show how those benefits affect the cash needed and monthly payment before you sign a contract.
No required down payment in many cases
You can often finance the full purchase price when you have enough entitlement, the loan and property are approved, and the price does not exceed the VA appraised value. If the price is higher than the appraisal or another VA loan is already using part of your entitlement, we will calculate whether money down is needed.
No monthly private mortgage insurance
A VA loan does not add monthly private mortgage insurance to the payment. A one-time VA funding fee may still apply unless the VA records show that you are exempt, and we confirm that status before closing.
Reusable benefit
You can use the benefit again after an earlier VA loan is paid off and the entitlement is restored. There is also a one-time restoration option after payoff when you keep the home, while a different calculation applies when another VA loan is still using part of your entitlement.
Lender approval still applies
The VA does not set one minimum credit score or one maximum debt-to-income ratio for every purchase loan. Each lender and loan program has its own requirements, so we review your full credit history, income, debts, residual income, and proposed payment instead of making the decision from one number.
Build the offer around the total monthly payment
What VA price range fits your income, debts, and available funds?
A useful price range includes principal, interest, taxes, insurance, association dues, and any VA funding fee. We also review income, debts, and available cash before setting the range.
Who is eligible for a VA home loan?
Current active-duty members generally meet the minimum service requirement after 90 continuous days. Requirements for Veterans, National Guard and Reserve members, and surviving spouses depend on their service dates, type of service, duty status, and character of service.
The Certificate of Eligibility confirms the benefit and available entitlement. We pull it for you, then review the income, debts, credit, funds, occupancy, and property requirements because the COE does not approve the mortgage by itself. The official VA eligibility rules explain the different service categories.
Find out if you qualify
5 quick questions. Takes under a minute. You'll get a clear answer on whether you likely qualify and what to do next.
What can you buy with a VA loan?
A VA purchase loan is generally for a home you plan to occupy as your primary residence. The property must also meet the appraisal, title, condition, access, and lender requirements for the program you are using.
Existing single-family home
A detached home or eligible townhouse is the most common VA purchase, and we review the appraisal, title, condition, access, insurance, and occupancy before approving the property.
VA-approved condominium
The condominium project normally needs VA approval, so we check the project status early because an unapproved project can change the financing plan or the time needed before you make an offer.
Two-to-four-unit property
You may buy a duplex, triplex, or four-unit property when you will live in one of the units as your primary residence. Expected rent, current leases when applicable, reserves, appraisal, and payment all help determine how the additional units affect approval.
Manufactured or newly built home
A manufactured home or VA one-time close construction loan has additional title, foundation, builder, budget, appraisal, and property requirements. An early review can keep you from committing to a property or project that cannot use the financing you expected.
How much can you borrow with no down payment?
A Veteran with full entitlement does not have a county VA loan limit, which means the VA benefit itself does not cap a no-down-payment purchase at the county conforming limit. The amount we can approve still has to be supported by the price, appraisal, income, debts, residual income, credit, available funds, and the payment you can reasonably afford.
FHFA sets conforming loan limits by county each year, and a VA loan above the applicable county limit is considered high balance. If another VA loan is using part of your entitlement, we use the one-unit county conforming limit and your COE. That calculation tells us whether the new purchase requires money down. The VA high-balance loan guide explains full and partial entitlement in more detail.
What credit score and income rules apply?
The VA does not set one minimum credit score for every purchase loan, while each lender and program sets its own credit requirements. Some PBT purchase options can consider scores as low as 500. The score is only one part of the decision, so we also review what caused the credit problem and how you have handled housing payments since then.
Stable income has to support the proposed housing payment alongside the recurring debts and normal family expenses, while the credit history, assets, and VA residual-income calculation complete the picture. The VA does not impose one universal maximum debt-to-income ratio, so the approval has to make sense beyond the ratio alone.
What does the VA appraisal check?
The VA appraisal does two jobs, it supports the reasonable value and identifies visible conditions that may not meet VA Minimum Property Requirements. It does not replace a home inspection, and we recommend treating the inspection as a separate decision about the condition of the home.
Reasonable value
Recent comparable sales help the appraiser determine the VA lending value. If that value comes in below the contract price, the options may include renegotiating, providing relevant market evidence, paying an approved difference, or using the VA escape clause when it applies.
Minimum Property Requirements
Visible safety, sanitation, structural, access, utility, roof, mechanical, and other conditions are part of the VA appraisal. When a repair is required, we explain what must be corrected, who can complete it, and which documents the appraiser or underwriter needs before closing.
Independent home inspection
A home inspector works for the buyer and examines the property in more detail than the VA appraisal. The inspection can uncover issues that are outside the appraiser’s assignment, which is why the VA recommends having one completed.
Specialized checks
Depending on the property and location, the loan may require a termite report, well or septic test, flood-zone review, condominium approval, manufactured-home documents, or a local certification. We identify those items early and include them in the contract timeline.
What costs should a VA buyer plan for?
$0 down does not always mean $0 needed at closing. To show you what the purchase is expected to require, we review the Loan Estimate, contract, appraisal, inspections, prepaid taxes and insurance, escrow deposits, credits, and available funds.
VA funding fee
For a purchase with less than 5% down, the standard funding fee is 2.15% for first use and 3.3% after first use when you are not exempt. The fee can usually be added to the loan, which increases both the balance and monthly payment.
Closing costs
Title, recording, appraisal, credit, lender, settlement, discount points, and other charges depend on the property and transaction. We show each charge on the Loan Estimate and explain which fees the VA permits you to pay.
Prepaid and escrow items
Prepaid interest, homeowners insurance, property taxes, and the initial escrow deposits are not lender fees, but they still affect the cash needed at closing. Their timing can make two otherwise similar purchase estimates look very different.
Seller and lender credits
The contract may include permitted seller payments, while the interest rate can include a lender credit toward closing costs. We compare what each credit saves at closing with any change it makes to the price, rate, payment, or other loan terms.
Know the cash needed before signing a contract
Could the VA benefit cover the home you want with $0 down?
Full entitlement may allow an approved purchase with $0 down, but the property, appraisal, closing costs, and seller credits still affect the deal. We can show how they fit together.
Which borrowers may qualify for a VA funding-fee exemption?
Several VA-defined groups do not have to pay the funding fee, including borrowers who receive compensation for a service-connected disability. Another group includes certain borrowers who receive retirement or active-duty pay instead of that compensation. Eligible surviving spouses receiving Dependency and Indemnity Compensation may also be exempt. Other exemptions can apply to certain qualifying pre-discharge disability ratings and active-duty Purple Heart recipients when the required evidence is in place by closing.
We do not decide the exemption from a disability percentage alone. Once we confirm the funding-fee status through the COE and applicable VA records, we show the result on the Loan Estimate. The VA funding fee guidance and the PBT funding fee chart explain the current categories and fee amounts.
What is the difference between prequalification, preapproval, and final approval?
A quick estimate, prequalification, preapproval, and final loan approval are different steps. We tell you exactly what we have reviewed, what the letter is based on, and which financial and property conditions still have to be completed.
Prequalification
To estimate a starting payment, we use the income, monthly debts, available funds, price range, and other information you provide. A prequalification helps with planning, but it is not a commitment to make the loan.
Preapproval
Before issuing a preapproval, we look at your credit, income, available funds, monthly debts, and current documents. The letter is still conditional because the home, appraisal, title, insurance, contract, and remaining loan conditions have not all been approved.
Final approval
Final approval comes after we have approved your finances, the property, appraisal, title, insurance, required documents, and underwriting conditions. A material change in credit, income, debts, assets, employment, or the property can still require another review before closing.
Clear to close
Clear to close means the required approval steps have been completed and the closing documents can be prepared. Before you sign, we compare the final Closing Disclosure with the Loan Estimate and review the payment and cash needed.
Choose the property-specific guide
Which VA purchase programs does PBT Bancorp offer?
The property type changes what we need to check, so use the guide that matches the home you are buying and we will explain the requirements before you commit to it.
Purchase
VA home purchase review
We will review the price and payment you have in mind, pull your COE, and explain the income, credit, cash, and property conditions that need to be met before you make an offer.
Start the purchase review
High balance
VA high-balance loans
See how we review a higher-priced home and why another VA loan using part of your entitlement can create a down-payment calculation even though full entitlement has no county VA loan limit.
Review high-balance loans
Manufactured
VA manufactured home loans
Manufactured homes need a different property review than standard site-built homes. That review covers the title, HUD labels, foundation, land, age, additions, condition, and appraisal early.
Review manufactured homes
Construction
VA one-time close construction loans
See how one closing can combine an approved land purchase, construction budget, interest reserve, and permanent VA mortgage, along with the builder and project reviews required before closing.
Review VA construction
When might a VA loan not fit the purchase?
A VA loan can be an excellent fit without being the right answer for every property or purchase. Before recommending it, we compare the condition, deadline, cash needed, and monthly payment with any conventional, FHA, or other mortgage that could fit.
The property is not an eligible primary residence
Vacation homes, investment-only properties, and homes you cannot occupy within the required period do not fit the standard VA purchase benefit. We explain the occupancy rule before reviewing the other financing choices.
Condition issues cannot be resolved
Homes with required safety, sanitation, structural, access, or system repairs may not close with a standard VA loan until the work is completed. We determine whether the seller can correct the issues or whether a different eligible repair program is available.
Another loan has a lower total cost
Sometimes another program produces a better payment or total cost, especially when the buyer has money for a larger down payment or is purchasing a particular property type. We compare written estimates on the same price, term, lock period, and point structure before recommending one.
The deadline is unrealistic
The appraisal, title, insurance, repairs, underwriting, and disclosure timing all have to fit the contract. We give you a realistic schedule after reviewing your finances, the property, and the contract instead of promising an exact closing date before the work has been completed.
Build the full purchase plan
Which VA homebuying resources should you use next?
These guides help you understand the benefit, estimate the payment and cash needed, prepare for our loan review, and see how taxes and insurance can change the numbers from one market to another.
Eligibility
Official VA eligibility rules
Your service dates and type of military service determine which eligibility rules apply. We pull the Certificate of Eligibility and use it to confirm the benefit and available entitlement.
Check VA eligibility
Preapproval
VA loan preapproval guide
See what we review before issuing a letter, how the credit authorization works, and which property and loan conditions still have to be completed afterward.
Prepare for preapproval
Calculators
VA loan calculators
Estimate a payment or price range, then use the separate tools for military allowances, residual income, refinance savings, or construction costs when those figures apply to your decision.
Use VA calculators
Entitlement
VA entitlement calculator
Enter the Basic Entitlement and Total Entitlement Charged from the COE to estimate remaining entitlement, zero-down capacity, guaranty, and any additional down payment.
Calculate entitlement
Local research
VA loans by state
Compare housing prices, property taxes, insurance concerns, Veteran exemptions, and military-market details that can change the payment and cash needed from one state or city to another.
Choose a state
VA home loan questions
Do I need a down payment for a VA home loan?
You can often buy with no down payment when you have enough entitlement, the loan and property are approved, and the price does not exceed the VA appraised value. Money down may still be needed when the price is above the appraisal or another VA loan is using part of your entitlement. It may also be needed when the approved PBT loan requires it or you choose to reduce the balance.
Is a VA loan only for first-time homebuyers?
VA loans are not limited to first-time buyers, and you can use the benefit again when entitlement is available. Your finances and the new property must meet the current occupancy, appraisal, and lender requirements.
Can I use a VA home loan more than once?
The VA home loan benefit is reusable, and full entitlement can often be restored after the earlier VA loan is paid off and the property is sold. A one-time restoration may be available after payoff when you keep the home, while remaining-entitlement rules apply when another VA loan still uses part of the benefit.
Can I have more than one VA loan at the same time?
Having two VA loans at the same time is possible when enough entitlement remains and the new purchase meets the occupancy, qualification, guaranty, property, and program requirements. Our COE review uses the entitlement already charged and the new property’s one-unit county conforming limit to calculate whether money down is needed.
What credit score is needed for a VA loan?
The VA does not set one minimum credit score for every purchase loan, while each lender and program sets its own requirements. A score as low as 500 can be considered under some PBT purchase programs. We also review what caused the credit problem, recent housing history, income, monthly debts, available funds, and whether the proposed payment is realistic.
Is there a VA loan limit with full entitlement?
A Veteran with full entitlement does not have a county VA loan limit. FHFA still sets conforming loan limits by county each year, and a VA loan above the applicable county limit is considered high balance. We approve the amount only after reviewing the price and appraisal alongside the income, monthly debts, residual income, credit, and available funds.
Is the VA appraisal the same as a home inspection?
The VA appraisal supports the reasonable value and identifies visible conditions that may not meet VA Minimum Property Requirements, but it is not a home inspection. A separate inspection gives the buyer a more detailed look at the property’s condition, which is why the VA recommends having one completed.
Can VA closing costs be rolled into a purchase loan?
The VA funding fee can usually be added to the purchase loan, but ordinary closing costs generally cannot simply be financed above the supported purchase price and appraised value. Permitted seller payments, lender credits, the negotiated price, and your available funds can all change the cash needed.
Who does not have to pay the VA funding fee?
The VA waives the funding fee for several defined groups, including certain borrowers with service-connected disability compensation. Eligible surviving spouses receiving DIC and some borrowers with qualifying pre-discharge ratings may also be exempt. Active-duty Purple Heart recipients can also qualify, and we confirm every exemption through the COE and applicable VA records before closing.
How long does a VA home loan take to close?
There is no one guaranteed closing time because the credit review, documents, appraisal availability, repairs, title, insurance, underwriting conditions, disclosures, and contract deadline all affect the schedule. We give you a realistic estimate after reviewing your finances, the property, and the local closing requirements.
Can I buy a multi-unit property with a VA loan?
You may buy a duplex, triplex, or four-unit property when you will occupy one unit as your primary residence. Before approving the selected loan option, we review the appraisal, rental-income treatment, reserves, and your complete qualification.
Can I use a VA loan for a manufactured home or new construction?
Eligible manufactured homes and VA one-time close construction loans are available through participating lenders, but they do not use the same review as an ordinary existing home. A construction review covers the property, title, foundation, builder, plans, and budget. We also check the appraisal, draw process, and loan terms before you commit to the home or construction contract.
Know the payment and cash needed before you make an offer
We will pull your COE, review the income, monthly debts, credit, and available funds, then explain the expected payment, property requirements, credit authorization, and realistic closing timeline.
Last reviewed July 30, 2026.