For many active-duty service members, veterans, and military families, the VA home loan is one of the most valuable benefits earned through service. Yet, many people don’t fully understand how it works or how to use it to buy a home. Whether you’re stationed at Langley, Norfolk, Yorktown, or Fort Eustis, knowing the basics of your VA loan can make all the difference when you’re ready to buy.
The VA loan is more than just a mortgage option; it’s a long-term benefit designed to make homeownership more affordable for those who serve. Here’s a breakdown of what makes it unique and how to use it to your advantage.

What Is a VA Loan?

A VA loan is a mortgage guaranteed by the Department of Veterans Affairs. It’s not issued directly by the VA; instead, it’s offered through banks, credit unions, and mortgage lenders. The VA guarantees a portion of the loan, which helps lenders feel more confident about approving your financing.

That guarantee means you can often qualify with a smaller down payment (or none at all), get a competitive interest rate, and avoid paying for private mortgage insurance (PMI). In short, it helps make homeownership possible for more service members and veterans, even if saving a large down payment feels out of reach.

Who Is Eligible for a VA Loan?

Because every service record is different, the Department of Veterans Affairs is the best source for confirming eligibility. But in general, you may qualify if:

You’re an active-duty service member with a valid statement of service.
You’re a veteran with a DD214 showing an honorable discharge.
You’re the surviving spouse of a service member who died on active duty or due to a service-related disability.

In addition to these core requirements, most lenders will look for:

A qualifying credit score
Sufficient, stable income
Plans to occupy the home as your primary residence
A completed Request for Certificate of Eligibility (Form 26-1880)

Once you have your Certificate of Eligibility (COE), you can start the formal application process.

What Paperwork Do You Need?

Like any mortgage, a VA loan requires some documentation. It’s smart to gather what you’ll need early; tracking it all down can take longer than expected.

You’ll typically need:

Government-issued photo ID
Certificate of Eligibility (COE)
Recent pay stubs or Leave and Earnings Statements (LES)
Two years of W-2s or tax returns
Employment history and contact information
Previous addresses for the past two years

Your lender may ask for additional documentation depending on your situation, but getting these items ready early will make the process smoother.

How Does a VA Loan Differ from Other Home Loans?

The most noticeable difference is the zero down payment, something few other loan programs offer. That means you can purchase a home without waiting years to save up.

Other key benefits include:

No private mortgage insurance (PMI): Since the VA guarantees a portion of the loan, you don’t have to pay PMI, saving you hundreds each month.
Competitive interest rates: VA loans often come with lower rates than conventional loans.
Flexible qualification standards: Lenders can be more understanding of unique military pay structures or past credit challenges.

Together, these benefits make the VA loan one of the most powerful tools for building long-term financial stability through homeownership.

How Many Times Can You Use a VA Loan?

A VA loan isn’t a one-time benefit; you can use it again. Here’s how that works:

If you sell your home and pay off your existing VA loan, you can restore your full entitlement and use it again to buy your next home.
If you want to keep your current home and buy another, you may still have remaining entitlement that allows you to purchase a second property under specific conditions.

Your Certificate of Eligibility (COE) and the local loan limits will determine how much entitlement you have available.

What You Can’t Buy with a VA Loan

While the VA loan program is flexible, it’s intended to help you purchase a primary residence, not a vacation or investment property. You can’t use it to buy:

Vacation homes or second homes
Farmland without a residence
Land without immediate plans for construction
Foreign properties outside the U.S. or its territories

The home must be your full-time residence located within the U.S., Puerto Rico, Guam, the U.S. Virgin Islands, American Samoa, or the Northern Mariana Islands.

Making the Most of Your VA Loan Benefit

VA loans continue to be one of the most valuable financial tools available to those who’ve served. They make homeownership more accessible, offer long-term financial advantages, and are designed to recognize your service by giving you a fair path to owning a home.

If you’re thinking about buying in or around Hampton Roads, or anywhere else, working with a REALTOR® and lender who understand the VA process can make a world of difference. From understanding your entitlement to finding a property that meets VA standards, experience matters.

If you have questions about how to get started with your VA loan, or you’d like to see what you qualify for, reach out to me anytime. I’m always glad to help fellow service members and veterans make the most of this well-earned benefit.