VA Loan Standard 1-4 Units

This program allows an eligible veteran to buy a home with absolutely no  down payment. The closing cost can be paid by the seller or lender. The veteran can buy with absolutely no money out of pocket.


Credit score: 620 minimum
Property type: 1-4 units, Condo, PUD
Occupancy: Primary residence
Down Payment: Not required
Loan to Value: 100%    Max. CLTV: 100%
Gift Funds Allowed. No minimum buyer contribution required.
Closing cost: Seller and/or lender can pay up to 6%
Debt Ratio: 41%     with compensating factors up to 46/56%


Additional Notes:

  • No mortgage insurance regardless of down payment
  • Condos must be VA approved
  • Must meet VA Residual Income requirement
  • No cosigners allowed except for spouse or eligible veteran(s)
  • First time buyer not required. Must be primary residence
  • Unmarried spouse can use VA loan; veteran who died in service
  • Lender-paid closing cost available
  • Extended guidelines with 580 min. score
  • Bankruptcy 2 yrs, Foreclosure 2 yrs, Short Sale 1 yrs
  • 2/1 Buy -down program allowed

This page contains program highlights only.  See sidebar links for further information and details.

All program are subject to change at anytime without any further notice


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