FAQ
VA loan frequently asked questions
Answers to the most common VA loan questions: appraisals, funding fee, eligibility, timing, entitlement, credit scores, and more.
Real, quick answers to the questions Veterans ask most about VA loans and the IRRRL Streamline Refinance.
Appraisal
Costs
- What is the VA funding fee?
- Who is exempt from the VA funding fee?
- What are typical VA loan closing costs?
- Can the seller pay my closing costs on a VA loan?
- Can I roll closing costs into my VA loan?
- Do VA loans have PMI?
- Is MIP required on a VA loan?
- Why is the VA funding fee higher on subsequent use?
- Can I get a refund of the VA funding fee?
- Is there a cap on lender origination fees for VA?
- What are VA non-allowable fees?
- How much cash do I actually need to close a VA loan?
Credit
Eligibility
- How many times can I use a VA loan?
- Can I have two VA loans at the same time?
- What credit score do I need for a VA loan?
- Do I have to be a first-time buyer to use a VA loan?
- Can I use a VA loan while I'm still active duty?
- Can a non-Veteran spouse be on the VA loan?
- Can I use a VA loan if my spouse isn't in the military?
- Are National Guard members eligible for VA loans?
- Are Reservists eligible for VA loans?
- Can I get a VA loan with a dishonorable discharge?
- Can a surviving spouse get a VA loan?
Entitlement
Getting Started
How It Works
IRRRL
- What is a VA Streamline Refinance?
- How long does an IRRRL take to close?
- Do I need an appraisal for an IRRRL?
- What is a 'net tangible benefit' on an IRRRL?
- IRRRL vs. VA Cash-Out — which should I choose?
- What are the IRRRL seasoning requirements?
- What is the IRRRL 36-month recoupment rule?
- Can I skip a mortgage payment with an IRRRL?
- Can I use an IRRRL to switch from an ARM to a fixed rate?
- Can I shorten my loan term with an IRRRL?
- Is there a maximum loan amount on an IRRRL?
- Does an IRRRL require a credit pull?
Loan Limits
Occupancy
Process
Property
Property Type
Rates
Refinance
Special Situations
Underwriting
- What is residual income on a VA loan?
- How does child support affect VA loan approval?
- Can self-employed Veterans get a VA loan?
- Does part-time income count for a VA loan?
- Does BAH count as income on a VA loan?
- How is VA disability income treated on a VA loan?
- What is the max DTI for a VA loan?
- How are student loans counted on a VA loan?
- Can I have a co-signer on a VA loan?
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