The best VA lenders in 2026 are those that combine competitive pricing, fast processing, and deep expertise with VA loans, which have unique rules compared to conventional mortgages. While any VA-approved lender can originate these loans, companies that specialize in VA lending typically offer smoother underwriting, fewer delays, and better guidance for military borrowers. 

Experience with VA underwriting and dealing with COEs, funding fees, and VA appraisal requirements is critical to avoiding surprises during the loan process. With an experienced VA lender like Griffin Funding, you can get the personalized support and efficiency veterans value most.

Types of VA Loan Mortgage Companies

There are several types of VA mortgage providers, each with different strengths. Understanding these categories can help you decide which structure best fits your needs, whether you’re purchasing or using programs like a VA streamline refinance or VA cash-out refinance.

National VA Mortgage Companies

National VA mortgage companies operate across most or all U.S. states, offering broad access and streamlined digital tools for military borrowers. These lenders often close a high volume of VA loans, which gives them deep familiarity with VA underwriting, COE processing, and appraisal requirements.

Pros:

• Strong technology platforms with online applications, automated updates, and fast preapproval tools
• Faster average closing times due to dedicated VA underwriting teams
• Broad availability, making them a good match for military families who relocate frequently
• Competitive pricing because of high loan volume
  

Cons:

• Service may feel less personal than working with a small or local lender
• Borrowers may be routed to large call centers rather than a single dedicated loan officer

Companies like Veterans United are well-known national VA lenders with strong reputations for delivering consistent VA-focused service.

Local VA Loan Approved Lenders

Local VA-approved lenders operate within a specific city, region, or state and offer a more relationship-driven experience. These companies often know the area’s housing trends, property types, and local appraisal challenges.

Pros:

• Personalized service with direct access to your loan officer
• Strong understanding of local market dynamics and property values
• Better communication with regional appraisers, inspectors, and real estate agents
• Helpful for VA borrowers who prefer in-person conversations or small-team support

Cons:

• Technology tools may vary from lender to lender
• Limited availability if you’re relocating or buying out of state

Local lenders are often a great choice for buyers who want a hands-on process and guidance tailored to their specific market.

Hybrid and Online VA Loan Companies

Hybrid and online VA lenders combine digital convenience with the guidance of real loan officers, making them a popular choice for veterans who want a streamlined experience. These companies usually offer quick online applications, easy document uploads, and transparent loan tracking through online portals.

Pros:

• Convenient online application process with fast digital preapproval
• Automated underwriting tools that can shorten turn times
• Competitive rates due to tech-driven operations
• Flexible communication options (phone, video, email, or messaging)

Cons:

• Personal service can vary depending on the lender’s structure
• Some operate at high volume, which may lower the level of customer service
• Not all hybrid lenders have deep VA experience, so it’s important to check how often they handle VA purchase loans, VA streamline refinances, or VA cash-out refinances  

Hybrid VA lenders are ideal for borrowers who want speed and digital convenience but still value access to a knowledgeable loan officer when needed.

Key Factors to Compare When Choosing a VA Home Lender

When selecting a VA lender, it’s important to look beyond rates and compare how well each company supports military borrowers throughout the full loan process.

VA Loan Rates and Fees

• VA loan rates are influenced by market conditions, lender pricing structures, and your credit profile.
• Compare APR, discount points, lender fees, and credits, not just the advertised rate.
• Always request rate quotes on the same day to make an accurate comparison.

VA Loan Experience and Specialization

• Look for lenders who regularly close on VA loans and have VA-trained loan officers on staff.
• Specialists know how to navigate eligibility rules, COEs, residual income requirements, and VA appraisal guidelines.
• A lender deeply experienced with VA loans can prevent underwriting delays and help secure a smoother approval.

Customer Service and Responsiveness

• Great VA lenders communicate clearly, respond quickly, and guide you through COE verification, documentation, and appraisal steps.
• This is especially valuable for first-time VA buyers, who benefit from personalized support and easy access to their loan officer.

Turnaround Times and Closing Speed

• Closing speed varies widely among VA mortgage companies, with stronger VA lenders often delivering shorter underwriting and closing timelines.
• Quick processing is essential in competitive markets where sellers expect reliable timelines.

Technology and Digital Tools

• Look for lenders offering quick digital pre-approvals, secure document upload portals, and transparent loan tracking.
• Automated underwriting systems can speed up decision-making. 
• Easy-to-use digital tools create a smoother and more predictable lending experience for VA borrowers.

Common Mistakes to Avoid When Choosing a VA Loan Company

Watch out for these common mistakes when searching for the best VA home mortgage lender: 

• Choosing based on rate alone: The lowest advertised rate doesn’t always mean the lowest overall cost. APR, discount points, and fees can dramatically change what you actually pay over time.
• Not verifying a lender’s VA approval status: Some lenders advertise VA expertise but aren’t truly VA-focused or experienced. Always confirm they are officially VA-approved and regularly originate VA loans, not just conventional mortgages.
• Failing to compare multiple quotes: VA pricing can vary widely between lenders, so getting at least 2–3 same-day quotes is essential.
• Overlooking lender fees and hidden costs: Origination fees, discount points, credit report charges, and rate-lock fees can add up quickly. Make sure you get a full fee worksheet so you can compare lenders fairly and avoid surprises at closing.

Questions to Ask VA-Approved Lenders Before You Choose

When seeking out the best VA home loan lender, it’s important to know the right questions to ask so you can properly compare your options.

• “How many VA loans do you close each year?” This helps you measure the lender’s true VA expertise beyond simply being VA-approved.
• “What’s your average VA loan closing time?” Faster lenders are better equipped to handle VA appraisals, underwriting steps, and competitive purchase timelines. Griffin Funding aims to close all VA loans in 30 days or less.
• “Do you offer VA IRRRL and cash-out refinance options?” A strong VA lender should support both the VA streamline refinance (IRRRL) and VA cash-out refinance programs.
• “What fees should I expect?” Ask about lender fees, credits, discount points, and any charges unique to VA loans so you can compare lenders accurately.
• “How do you support credit challenges unique to VA borrowers?” The best VA mortgage companies should be able to help with COE issues, credit updates, and documentation challenges.

Best Lenders for VA Mortgages in 2026

The top VA mortgage lenders in 2026 aren’t defined by brand names but by consistent service quality, VA expertise, and borrower-focused support. The best lenders for VA mortgages offer not just competitive pricing, but a smooth experience from start to finish.

What top VA mortgage companies do well:

• Provide fast, reliable preapprovals
• Maintain strong VA underwriting teams
• Offer competitive VA pricing with transparent fee structures
• Communicate proactively, especially around appraisals and conditions
• Support programs like VA IRRRL and VA cash-out refinances

Examples of excellent service traits:

• A loan officer who explains residual income rules in plain language
• A lender who requests documents upfront to avoid last-minute conditions
• Digital tools like the Griffin Gold app that keep borrowers updated in real time

Why “fit” matters more than picking a big-name lender:

Different veterans have different needs. Some want speed, others want personal service, and others prioritize technology or low fees. Choosing a lender based on your goals is far more effective than selecting one solely because they’re well-known.

Get Pre-Approved for a VA Loan Today

Getting pre-approved is the first step toward a smooth VA homebuying experience, and working with the right lender ensures your benefits are maximized from day one. Griffin Funding offers specialized VA support, competitive rates, and modern digital tools like our free VA loan calculator and VA loan affordability calculator. 

Whether you’re purchasing, refinancing, or exploring your eligibility, starting with a trusted VA-focused lender can make your entire journey easier and more confident. Get started online today and take full advantage of your VA loan benefits. 

The post How to Choose the Best VA Mortgage Lender for You (2026) appeared first on Griffin Funding.

VA loans offer incredible benefits that make homeownership more accessible for veterans and service members. They come with no down payment requirements, no private mortgage insurance, competitive interest rates, and the ability to reuse your benefit multiple times. These advantages make VA loans one of the best homebuying tools available.

A “seasoning period” is simply the amount of time you need to wait after a major financial event before you can qualify for a new mortgage. Lenders require these waiting periods because they want to see that you’ve recovered financially and are unlikely to face the same problems again. The good news is that you can get a VA loan after bankruptcy, foreclosure, and short sale.

The reasoning behind a seasoning period is simple: if someone just went through foreclosure or bankruptcy, there’s a higher risk they might struggle with mortgage payments again soon. Lenders require a waiting period so they can see evidence that you’ve stabilized your finances, rebuilt your credit, and developed better money management habits.

Waiting periods aren’t the same for every financial event. A foreclosure involves losing your home involuntarily, while a short sale is typically a more controlled exit from homeownership. Bankruptcy can actually be a fresh start that clears problematic debts. Each situation gets treated differently by lenders.

VA Loan Waiting Period After Foreclosure

The standard VA foreclosure waiting period is two years from the date the foreclosure is completed. This means two full years from when you officially lose ownership of the property, not from when you first missed payments or when the process started.

Understanding what “completion” means is important because foreclosure is a legal process that can take months or even years. The foreclosure is complete when the property is sold at auction, you deed the property back to the lender, or the lender takes full legal ownership. The waiting period clock starts ticking from that final date.

Foreclosure typically causes significant damage to your credit score. However, the impact lessens over time, and many people see substantial recovery within the two-year waiting period. This is part of why the waiting period exists — it gives your credit time to recover naturally.

There are exceptions for extenuating circumstances. If your foreclosure was caused by factors completely beyond your control — like a serious illness, military deployment complications, or natural disaster — some lenders might consider a shorter waiting period. You’ll need extensive documentation proving the circumstances were truly unavoidable.

VA Loan Waiting Period After Short Sale

Short sales are typically treated more favorably than foreclosures in most cases. If you completed a short sale while keeping your mortgage payments current up until the sale, many lenders don’t require a VA short sale waiting period at all. This is because a short sale, if you’re current on payments, shows financial responsibility and proactive problem-solving. However, if you were delinquent on mortgage payments at the time of the short sale, you might face up to a two-year waiting period.

From a lender’s perspective, there’s a big difference between someone who proactively addressed an underwater mortgage situation versus someone who stopped paying and then did a short sale as a last resort. The first scenario shows financial maturity, while the second looks more like someone who gave up on their obligations.

After a short sale, lenders will want documentation showing the circumstances that led to the sale, proof that you attempted to work with your previous lender, and evidence of your current financial stability. Being organized with this paperwork can speed up your application process.

VA Loan Waiting Period After Bankruptcy

VA Bankruptcy waiting periods depend on which type you filed and your current circumstances.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy typically requires a two-year waiting period from the discharge date, not the filing date. The bankruptcy process can take several months, and the waiting period doesn’t start until the court officially discharges your debts.

Keep in mind there’s a difference between “discharged” and “dismissed”. A discharge means the court eliminated your qualifying debts, and you successfully completed the bankruptcy process. A dismissal means the case was thrown out for some reason, and you don’t get the benefits of debt elimination. Only a discharge starts the waiting period clock.

During your two-year wait after Chapter 7, focus on rebuilding credit responsibly. Consider a secured credit card, keep any remaining accounts current, and avoid taking on unnecessary debt. Many people are surprised by how much their credit can recover during this period with consistent effort.

Chapter 13 Bankruptcy

Chapter 13 has much more favorable timing for VA loans. You may be able to qualify for a VA loan just 12 months into your Chapter 13 repayment plan, provided you get court approval and meet specific requirements.

You’ll need to show 12 consecutive on-time payments to your bankruptcy trustee and get written permission from the court to take on new debt. The trustee will evaluate whether adding a mortgage payment fits within your approved budget and won’t jeopardize your ability to complete the bankruptcy plan.

The main advantage here is that you don’t need to wait for the final discharge. If you’re in good standing with your payment plan after 12 months, you can move forward with homebuying while still technically in bankruptcy.

Documentation is critical for Chapter 13 VA loans. You’ll need trustee approval letters, payment history records, and court permission.

How to Strengthen Your VA Loan Application During the Waiting Period

The VA loan waiting period is an opportunity to position yourself for loan approval and better terms. Instead of simply counting down the days, start actively improving your financial profile. The difference between someone who uses this time strategically versus someone who doesn’t can mean the difference between approval and denial, or between getting a great rate and paying more over the life of the loan.

• Rebuilding credit: Get your credit reports from all three bureaus and dispute any errors immediately. It might be worth it to get a secured credit card to establish new credit, but keep balances under 10% of the limit and pay in full every month. Even small credit score improvements can significantly impact your interest rate and monthly payment amount.
• Maintaining on-time rent or mortgage payments: Lenders scrutinize your housing payment history more than anything else since it’s the best predictor of future mortgage performance. Set up automatic payments if possible and keep detailed records showing 12-24 months of perfect payment history, even if you’re staying with family and paying them directly.
• Avoiding new collections or major debt: Every new negative item on your credit report can extend your recovery timeline by months or even restart the clock entirely. If you’re struggling with bills, contact creditors immediately to work out payment plans rather than letting accounts go to collections.
• Saving for closing costs or reserves: While VA loans don’t require down payments, you’ll still need to cover closing costs, which vary depending on your loan amount and location. Our VA loan affordability calculator can help you determine your budget and find a monthly payment that fits comfortably with your income and existing debts. Having 2-3 months of mortgage payments saved also shows lenders you can handle unexpected expenses without missing payments.
• Working with a VA loan expert to prepare early: Connecting with a VA-experienced lender like Griffin Funding early in your waiting period can help you understand what lenders are looking for and avoid potential issues that could delay your approval.

Get a VA Loan With Griffin Funding

At Griffin Funding, we understand that financial hardships don’t define your future as a homeowner. We focus on guiding veterans through the journey back to homeownership following difficult financial situations.

We also offer helpful tools and can assist with complex situations like VA restoration of entitlement or VA debt consolidation loan options. Download the Griffin Gold app to compare mortgage options and access financial management tools, and get started online today.

The post VA Waiting Periods: Seasoning for Foreclosure, Short Sale, & Bankruptcy appeared first on Griffin Funding.

The mortgage landscape continues to evolve, making lender selection more important than ever. Veterans face many choices when trying to select the best mortgage lender for VA loans, with each offering different strengths to help secure optimal terms for unique financial situations.

Why Compare VA Mortgage Lenders?

Shopping around for VA loan lenders offers several benefits:

• Interest rates and fees vary significantly between lenders, potentially saving thousands over your loan term.
• Processing speeds differ dramatically, affecting your ability to close on time in competitive markets.
• Customer service quality ranges from highly personalized to more automated approaches.
• Loan product offerings vary, with some lenders providing specialty programs others don’t offer.
• Technology platforms and tools differ in user-friendliness and functionality

Comparing multiple options ensures you find the best mortgage lender for VA loans that aligns with your priorities and timeline.

About Griffin Funding

Griffin Funding operates as a mortgage banker specializing in various loan programs, including comprehensive VA loans. Founded with a commitment to personalized service, we focus on building relationships with borrowers throughout the entire loan process.

Griffin Funding offers competitive rates, local market expertise, and a streamlined approach to home financing that emphasizes transparency and customer satisfaction.

About Veterans United

Veterans United stands as one of the largest VA loan originators in the United States, exclusively focusing on serving military members and veterans.

Veterans United emphasizes its military-focused culture and understanding of the unique challenges veterans face during the homebuying process. Military borrowers seeking a VA loan with Veterans United benefit from the company’s specialized expertise in veteran-specific financing needs.

Interest Rates & Loan Products

Both lenders offer competitive rate structures, though specific rates depend on individual borrower profiles, credit scores, and current market conditions.

Griffin Funding

Griffin Funding provides competitive interest rates across all VA loan products, including purchase loans, VA cash-out refinance, and VA streamline refinance options. Our rate structure reflects current market conditions while maintaining competitive positioning. Griffin Funding’s loan officers work closely with borrowers to explain rate factors and help secure optimal terms based on individual financial profiles and loan requirements.

Veterans United

Veterans United VA loan rates remain competitive within the current market, with the company leveraging its high loan volume to negotiate favorable rate structures. The Veterans United VA loan product suite includes standard purchase loans, refinancing options, and specialized programs. Veterans United VA home loan rates fluctuate with market conditions, and the company provides rate transparency through its online platform and loan specialists.

Customer Experience & Reviews

Customer service quality and borrower satisfaction play crucial roles in the mortgage experience. Both companies have developed different approaches to serving their clients throughout the loan process.

Griffin Funding

Griffin Funding emphasizes personalized service with dedicated loan officers who guide borrowers through every step. Testimonials highlight responsive communication, transparent processes, and successful loan closings.

Borrowers frequently praise our accessibility and willingness to explain complex mortgage concepts. Griffin Funding’s approach focuses on building long-term relationships rather than simply processing transactions.

Veterans United

Veterans United VA loan reviews also reflect positive experiences with the company’s military-focused approach. The company receives recognition for its understanding of military life complexities and VA loan intricacies. Veterans United’s large-scale operations allow for extensive resources and support systems, though some borrowers note less personalized attention compared to smaller lenders when pursuing a Veterans United VA home loan in certain situations.

Technology & Application Process

Modern mortgage technology streamlines the application process and improves communication between lenders and borrowers. Both companies invest in digital platforms to enhance the borrowing experience.

Griffin Funding

Griffin Funding offers streamlined digital applications combined with personal service from experienced loan officers. Our technology platform facilitates document upload, application tracking, and communication throughout the process. Griffin Funding also provides useful tools like a VA loan calculator and VA loan affordability calculator to help borrowers understand their purchasing power and monthly payment obligations.

Veterans United

Veterans United provides a digital platform designed specifically for military borrowers, including mobile applications and online account management. The company’s technology infrastructure supports high-volume processing while maintaining user-friendly interfaces.

Pros & Cons: Griffin Funding vs. Veterans United

Each lender brings distinct advantages and considerations to the table. Evaluate each of these factors based on your individual priorities and preferences.

Griffin Funding Pros & Cons

Some of Griffin Funding’s key advantages include:

• Personalized service with dedicated loan officers throughout the process.
• Competitive rates and transparent fee structures.
• Local market expertise and community-focused approach.
• Strong communication and relationship-building emphasis.
• Comprehensive VA loan product suite including specialty refinance options.

Potential considerations of Griffin Funding include:

• Smaller national footprint compared to larger competitors.
• Selective lending criteria may limit options for some borrowers.
• Fewer physical branch locations for in-person consultations.

Veterans United Pros & Cons

Some of the advantages of using Veterans United:

• Extensive VA loan specialization and military-focused expertise.
• Large-scale operations enable comprehensive resources and support systems.
• Streamlined processes designed specifically for veteran borrowers.
• Strong national recognition and brand reputation in military communities.
• Educational materials and tools tailored to the complexities of military life.

Potential drawbacks of Veterans United include:

• High loan volume may result in less personalized attention.
• Exclusive VA loan focus limits options for other loan types.
• Some borrowers report more automated service compared to smaller lenders.

Tips for Choosing a VA Loan Lender in 2026

Compare multiple lenders to find the best fit for your specific needs and financial situation.

• Check VA loan experience and expertise to ensure your lender understands military-specific situations and VA guidelines.
• Compare rates, APR, and fees from multiple lenders, as these can vary significantly and impact your total loan cost.
• Understand VA funding fee structures and any available exemptions based on your military service or disability status.
• Check credit score and debt-to-income requirements to ensure you meet each lender’s qualification standards.
• Compare pre-approval processes and lending speed, especially if you’re working within tight closing timelines.
• Consider customer service quality and read reviews from other military borrowers who have used each lender.
• Evaluate available technology and tools, including mobile apps and online account management capabilities.
• Consider the lender’s military and community knowledge, as this can impact their understanding of your unique circumstances.

Compare Your VA Lending Options

Choosing the right VA loan lender requires careful consideration of rates, service quality, and lender expertise. Griffin Funding combines competitive pricing with personalized service and local market knowledge.

Explore your options with Griffin Funding’s VA loan brochure and discover how our experienced team can help you achieve your homeownership goals.

Plus, you can manage your finances more effectively with our Griffin Gold app, which offers budgeting tools, expense tracking, and financial planning resources to help you achieve your homeownership goals and maintain long-term financial health.

The post Griffin Funding vs Veterans United: 2026 VA Loan Comparison appeared first on Griffin Funding.

The VA guarantees up to 25% of the loan amount and, in most situations, eligible borrowers will not be limited in how much they can borrow without the need for a down payment. However, there are situations that can limit the eligible backing. Although some of the restrictions have been reduced in recent years, it is still important to understand what VA loan limits are and how they can impact the loan amount you’re eligible for.

Below, we take a look at the factors that can limit VA backing on a mortgage loan, while exploring the options we provide to help eligible military borrowers take full advantage of their VA loan benefits.

What Are VA Loan Limits?

VA home loan limits specify the maximum amount an eligible borrower can take out for a VA-backed loan without the need for a down payment. However, following the Blue Water Navy Vietnam Veterans Act of 2019, there have been no limits to VA loans for borrowers with full entitlement.

This means that since 2020, eligible active service members, reservists, veterans, and surviving spouses who have full entitlement have been able to purchase a house at any price with their loan backed by the U.S. Department of Veterans Affairs. For those borrowers who do not have full entitlement, limits remain in place. Those VA loan limits vary from year to year and can change based on current housing prices in the county where the home is located.

The limit on VA loans does not reflect the amount a borrower is eligible to take out for a mortgage, which is something that will be decided by the mortgage lender, and will be determined by certain other factors such as income and VA loan rates. While those taking out VA loans will have some flexibility when it comes to things like their credit score and DTI ratio, they will still need to meet minimum requirements in order to qualify for financing.

By working closely with a qualified VA lender like Griffin Funding, you can determine whether you’re eligible for a VA loan, compare VA loan options, and take part in a streamlined VA loan application process.

How Entitlement Affects VA Loan Limits

A borrower’s VA entitlement is the amount that the VA will pay to the lender in the event the borrower defaults. Many VA loan applicants will have their full entitlement, especially first-time home buyers. Specifically, so long as at least one of the following criteria are met by the borrower, they will have full entitlement for a VA mortgage loan:

• They have never used their VA home benefit.
• Any prior VA loan has been paid off and the home has been sold.
• Any previous VA loan foreclosure has been paid off.

For any eligible buyer who does not meet one of the above criteria, there are limits placed on the amount the VA will back on a mortgage. However, borrowers may still be eligible for partial entitlement, specifically if they meet one of the following:

• They are still paying back an active VA loan.
• A prior VA loan has been paid off but they still own the home.
• They have refinanced a VA loan into a non-VA loan and still own the home.
• They made a short-sale on a previous VA loan without paying the VA back in full.
• They entered into a deed in lieu of foreclosure on a previous VA loan.
• They have a previous VA loan foreclosure that has not been fully paid back.

Eligible VA buyers who meet one of the above criteria will be limited to some portion of the full entitlement based on their particular situation. That remaining entitlement can be used to cover the full purchase price of a home or combined with a down payment that makes up the difference between the purchase price and the entitlement. Understanding how much entitlement you have can help you determine whether you’re subject to VA loan limits and whether you need to make a down payment on a home.

VA Loan Limits in 2026

In 2026, the VA loan limit is $832,750 for most VA loans made to borrowers with partial entitlement. For those borrowers in higher-priced counties, the VA loan limits in 2026 are as high as $1,249,125 for a single-family home. 

Additionally, the following areas have a baseline VA loan limit of $1,249,125 for single-unit properties:

• Alaska
• Hawaii
• Guam
• U.S. Virgin Islands

Note that these VA loan limits are determined by the VA and do not necessarily reflect the limits placed by the mortgage broker from which the loan is obtained. For any borrower that is limited in their VA backing eligibility, any home costs above the limit will need to be covered using a down payment. This means that there is no limit on how much a home can cost, just that any discrepancy between the VA loan maximum limit and the actual cost of the home will result in the borrower needing to make a down payment.

VA Loan Limit Example

To provide a quick illustration of how VA loan limits work in practice, here’s an example. Let’s say that you’re eligible for a VA loan and are currently using $40,000 of your entitlement. Meanwhile, the county you’re looking to buy in has a VA loan limit of $832,750. 

Since the VA guarantees up to 25% of the loan limit in a given county, the max VA entitlement in this county would be $201,625. The next step would be deducting the entitlement you’re currently using from this maximum entitlement: 

$201,625 – $40,000 = $161,625 in remaining entitlement 

Now we multiply your remaining entitlement by four in order to get the max VA loan amount you can qualify for without needing a down payment:

$161,625 x 4 = $646,500 is max loan amount with no down payment

In this example, if you wanted to buy a home that costs more than $646,500, you would need to cover the difference between this max loan amount and the purchase price with a down payment. 

Remember that if you have your full VA entitlement, none of the above will apply. Those with full entitlement are not subject to VA loan limits and will not be required to make a down payment, even if the price of the home they’re buying exceeds their county’s VA loan limits. 

What Is the Maximum VA Loan Amount?

The maximum VA loan amount available depends on whether the borrower has full or partial entitlement and the county in which the home is located.

For borrowers with full entitlement, there is no limit to the amount the VA will back — meaning you can finance a home at any price without a down payment requirement from the VA. However, you’ll still need to work with your lender to determine how much financing they’re willing to provide based on your income, credit, and other qualifying factors.

For borrowers with partial entitlement, the maximum amount the VA will guarantee is $832,750 for most U.S. counties. In high-cost counties, that limit rises to $1,249,125. Borrowers should check with the VA or their mortgage lender to determine whether the home they wish to purchase is located in a high-cost county.

Download the Griffin Gold app today!

Take charge of your financial wellness and achieve your homeownership goals

Use invitation code: GRIFGOLD to register.

Apply for a VA Loan Through Griffin Funding

When it comes time to apply for your first VA loan, Griffin Funding has the experience to help you through the process. We can help you determine the value of homes in your area and evaluate if you live in a high-cost county. With that information, we can look at your available entitlement and explore options for restoring your entitlement if necessary. We’ll also take a look at any other factors that may limit the amount the VA will guarantee and review your personal circumstances to determine your overall eligibility for a VA mortgage. 

Our checklist provides borrowers with specific steps that need to be followed to simplify the process, reducing the stress they may be feeling with moving to a new home. You can also use our free VA home loan calculator to estimate your monthly payment.

If you have questions about any VA loan products, feel free to reach out to Griffin Funding to discuss your options and find out how we can best meet your needs as you start an exciting new chapter in your life. Start capitalizing on your VA loan benefits today!

The post VA Loan Limits for 2026 appeared first on Griffin Funding.

VA Loan Income Requirements

One of the benefits of VA loans is choosing your own private lender, though each may set different income and credit requirements for approval. These income requirements help you prepare for the VA loan application process, increasing your chances of securing favorable financing.

Income Sources and Qualifying Income

In general, the following income sources will be taken into account when you apply for a VA loan:

• Employment income (full-time, part-time with 2-year history)
• Self-employment income (2-year history required)
• Military retirement pay
• VA disability compensation
• Social Security benefits
• Pension and retirement account distributions
• Alimony and child support (with 3+ years remaining)
• Investment and rental property income
• Interest and dividend income
• Overtime and bonus pay (2-year history)
• Commission income (2-year average)

Your lender might also look at any assets you might own, such as your savings accounts and investments. As with any mortgage, such as a traditional fixed-rate mortgage or VA loan, you want to show your lender that you can afford to pay off your loan by proving a reliable working history.

Use a VA loan affordability calculator to help you determine how much house you can afford based on your qualifying income.

Non-Qualifying Income Sources for VA Loans

Certain types of income don’t meet the VA loan requirements income standards and typically won’t count toward your loan application. The following income sources generally don’t qualify:

• One-time bonuses or windfalls (lottery winnings, inheritance)
• Income from jobs that will end soon
• Unemployment compensation
• VA educational allowances (GI Bill payments)
• Temporary or seasonal work income
• Income from brand new employment (less than 2 years)
• Cannabis industry income (due to federal/state law conflicts)
• Gifts or financial assistance from family
• Income with no verifiable documentation
• Sporadic freelance or gig work without consistent history

Remember that lenders evaluate income sources case by case, so some borderline situations may still qualify depending on your specific circumstances and lender guidelines.

Debt-to-Income Ratio

In addition to VA loan income requirements, there are also VA home loan debt-to-income requirements you might have to meet. Typically, your debt-to-income ratio refers to the percentage of your gross monthly income that’s used to pay off your debts.

To qualify for a VA home loan, the standard debt-to-income ratio is 41%. However, with compensating factors, higher debt-to-income ratios have been approved through automated underwriting systems

To calculate your debt-to-income ratio, simply add up all of your debt obligations — such as credit card debt, student loans, and car payments — and divide them by your gross monthly income, which is the amount of money you take home before taxes and other deductions are accounted for. 

You can also use our DTI ratio calculator to quickly calculate this metric. For more calculations, a VA loan calculator can help you estimate your total monthly housing payment including principal, interest, taxes, and insurance.

Credit History

Your credit score is often one of the most important factors in determining whether you’re eligible for a loan, as this number tells lenders how responsible you are with paying off debts. Each lender sets its own VA loan credit and income requirements. At Griffin Funding, our VA loan credit requirement for VA purchase loans is to have a minimum FICO score of 550.

Getting VA loan pre-approval early in the process helps you understand your qualification status and strengthens your offer when house hunting.

Residual Income Requirement for VA Loan

If your debt-to-income ratio is too high, your lender might not approve you for a VA loan. However, in some cases, you might be able to qualify for a VA loan with residual income, even with a high debt-to-income ratio.

Residual income refers to the amount of money you have leftover once you pay your debt obligations, such as your mortgage, property taxes and insurance, and revolving debt, that’s used for basic necessities like food and clothing.

The residual income requirement for a VA loan will vary depending on a variety of factors, such as the area you live in, the size of your family, and your mortgage amount. The VA looks at residual income because it wants to ensure veterans will be able to keep their household afloat while paying for their mortgage and other obligations. If your residual income is considered to be too low with a VA loan, you might be denied.

Meeting these income requirements for VA loan approval often requires careful budgeting and financial planning.

Download the Griffin Gold app today!

Take charge of your financial wellness and achieve your homeownership goals

Use invitation code: GRIFGOLD to register.

VA Loan Limits in 2026

Depending on your circumstances, you might not have any VA loan limitations. With the passing of The Blue Water Navy (BWN) Vietnam Veterans Act of 2019, which became effective on January 1, 2020, most veterans are not subject to VA loan limits. In most cases, if you have full entitlement, there will not be any loan limits.

Please note that some lenders may add overlays on top of the VA handbook and limit your loan amount to $2 million, $3 million, or $5 million.

Full entitlement means you haven’t used your VA home loan benefit (both your basic and bonus entitlement) or paid a previous VA home loan in full and sold the property.

However, if you have remaining entitlement, you might be subject to a loan limit. Some situations where you have remaining entitlement include:

• You have a current VA loan that you’re still paying back
• You own a property that was paid for with a VA loan

The 2026 loan limits for a VA loan if you have remaining entitlement are based on the county you’re looking to purchase in.

What Do You Need to Qualify for a VA Loan?

In order to qualify for a VA loan, you must get a Certificate of Eligibility (COE). Your COE tells your lender that you meet the service history and duty status requirements for a VA home loan.

Aside from the VA loan income requirements for a VA loan discussed above, there are certain VA home loan requirements you must meet in order to obtain a COE.

• You are a service member that has served at least 90 days during wartime or 181 days during peacetime.
• You are a veteran that meets the basic length of service requirements, which, in most cases, are 90 days during wartime or 181 days during peacetime.
• You are a member of the Reserves or National Guard who served at least six years.
• You are an eligible surviving spouse of a service member who died during service or as a result of a service-related injury or disability, is missing in action, or a prisoner of war, and have not remarried.
• You were a member of a government’s armed forces allied with the U.S. during WWII and are a U.S. citizen.

You can apply for your COE through the VA website, or you can ask your lender to help you get your COE. At Griffin Funding, we can help you apply for and obtain your COE. Once you meet the eligibility requirements for a COE, along with the VA loan income requirements, you’ll be able to work with your preferred lender and apply for a VA loan.

See If You Meet VA Loan Income Requirements

If you’re an active service member, veteran, or qualifying spouse looking to finance a new home, a VA home loan can help get you there. Once you meet the VA loan income requirements and obtain your Certificate of Eligibility, you’ll be on your way to securing a new home. 

With VA loan rates currently averaging in the mid-5% range as of early March 2026 — near their lowest level in over three years — this is one of the strongest buying environments for veterans since 2022. If you already own a home with a VA loan, you might benefit from a VA streamline refinance to lower your rate or a VA cash-out refinance to access your home’s equity for other financial goals.

At Griffin Funding, we offer competitive rates and terms on our VA home loans, along with flexible requirements to qualify for a VA loan. Speak with one of our helpful loan specialists to learn more or get started online today.

The post VA Loan Income Requirements for 2026: What You Need to Know appeared first on Griffin Funding.

The NAR settlement came from a series of lawsuits that challenged how real estate commissions worked for decades. The core complaint was that the traditional system artificially inflated commission costs and limited competition among buyer’s agents.

Before the settlement, listing agents would typically offer to split their commission with the buyer’s agents through the Multiple Listing Service (MLS). This meant sellers paid for both their own agent and the buyer’s agent. Keep in mind that sellers and buyers still could negotiate for whichever buyer’s agent commission structure they wanted; it just wasn’t a very transparent rule for either party, so many people simply didn’t know.

The landmark changes that took effect in 2024 include two major shifts. First, MLS listings can no longer advertise commission offers to buyer’s agents, giving buyers and sellers both more room to negotiate. Second, buyers must now sign written agreements with their agents before touring homes, clearly outlining how much they’ll pay their representative.

These changes were designed to increase transparency and give consumers more control over commission negotiations. However, they’ve created new complications, especially for buyers using specialized loan programs like VA loans that have strict rules about what fees borrowers can and cannot pay.

Understanding VA Loans and Their Requirements

VA loans are one of the best and most financially helpful benefits available to military service members, veterans, and eligible surviving spouses. These specialized loans are backed by the Department of Veterans Affairs and offer incredible advantages that make homeownership more accessible for those who have served our country.
VA loan rates are competitive, but the most significant benefit is the no-down-payment option. While conventional loans require at least 3% down and FHA loans need 3.5%, qualified VA borrowers can finance 100% of their home’s purchase price. This feature alone can save military families tens of thousands of dollars upfront.

Another notable benefit of the more flexible VA loan requirements is that these loans don’t require private mortgage insurance (PMI), which conventional borrowers must pay when they put down less than 20%. Instead, VA loans include a one-time funding fee that can be rolled into the total loan amount. For many borrowers, this results in lower monthly payments compared to conventional financing.

However, VA loans come with specific rules about what costs borrowers can pay. The VA maintains a list of non-allowable fees for VA loans that protect borrowers from excessive charges. Understanding these restrictions is especially important now that the NAR settlement has changed how VA loan realtor commissions work.

How the NAR Settlement Affects VA Loans

The changes from the NAR settlement created unique challenges for VA borrowers that other home buyers don’t face. While conventional loan borrowers now have more flexibility in how they handle buyer agent commissions, VA borrowers have a few other things to keep in mind.

Under the new system, if a seller chooses not to pay the buyer’s agent commission, the buyer typically needs to cover this cost directly. The VA has recently updated its rules to keep up with these changes. Before the NAR settlement, agent commissions were considered an unallowable fee, meaning borrowers couldn’t be charged for them.

After the settlement took effect, the VA recognized that their old rules might leave military families at a serious disadvantage in the new real estate market because sellers could now refuse to pay buyer agent commissions entirely (although these were always negotiable). Sellers could always choose to turn a VA buyer away to avoid paying additional commission fees, and there was nothing the borrower or their agent could do because they simply weren’t allowed to cover those fees themselves.

What makes this situation so challenging is that VA borrowers often compete with conventional and cash buyers who have more flexibility in how they handle commission arrangements. Sellers might prefer offers for buyers who can easily accommodate their preferred commission structure, potentially putting VA borrowers at a disadvantage.

Ultimately, if VA borrowers couldn’t pay agent commission fees while other buyers could, veterans might find themselves shut out of competitive housing markets or unable to work with the agents they wanted. Luckily, the VA updated guidance that gives borrowers more options for handling buyer agent compensation.

What VA Buyers and Sellers Should Know

Successfully handling the challenges from the NAR settlement when using a VA loan requires preparation. VA buyers need to understand their options before they begin house hunting. Here’s what you should know:

• Discuss commission arrangements upfront: Many experienced agents understand VA loans and can work with you to structure agreements that comply with both the new NAR rules and VA requirements.
• When signing a buyer-broker agreement, pay close attention to the commission terms: Some agreements allow for flexible payment arrangements, such as having the commission paid only if the seller agrees to cover it. Others might require you to pay regardless of the seller’s decision. Understanding these terms before you start looking at homes prevents surprises later.
• Budget for potential commission costs: Use a VA loan calculator to understand your total costs, including potential commission payments. This helps you plan appropriately and understand what you can afford to offer sellers as incentives to cover your agent’s commission.
• Work with experienced VA-approved lenders and realtors: Choose professionals who understand both the NAR settlement changes and VA loan requirements. They can help structure your transaction within the new commission framework and ensure you stay compliant with VA rules.

If you purchased your existing home with a VA loan and plan to sell it, keep in mind that the NAR settlement doesn’t necessarily impact you. Sellers have always been able to negotiate whether or not to pay buyer’s agents and how much, even if not paying them meant potentially limiting their buyer pool.

The NAR Settlement’s Impact on VA Lenders and Realtors

The NAR settlement impacts real estate professionals just as much as buyers and sellers. Loan officers working with VA clients need to understand how the new commission structure works with VA loan requirements to guide their clients.

For lenders, this means staying updated on both NAR settlement changes and any evolving VA guidance about commission payments (which will affect closing costs).

Both realtors and lenders need to work together to ensure transactions proceed smoothly while keeping borrowers compliant with VA requirements. This might involve creatively structuring VA loan closing costs or finding alternative ways to compensate buyer’s agents.

Real estate agents working with VA buyers need to adapt their business models to accommodate the new reality. This might mean adjusting commission structures, being more flexible about payment timing, or developing relationships with sellers who are willing to pay buyer agent commissions.

The most successful professionals in this new environment will be those who can effectively work with both sets of rules. They’ll need to understand VA loan restrictions while also complying with the new NAR requirements for buyer representation agreements.

Stay Informed About VA Loan Guidelines

The real estate industry is still adapting to the NAR settlement changes, and VA loan guidelines may continue evolving as well. As a VA loan borrower, you should stay informed about these developments to ensure you make the right decision when you’re ready to buy a home.

Griffin Funding understands the complexities that military families face when working with VA loan requirements and the changing real estate market. Our experienced team stays current with all developments affecting VA borrowers, ensuring you get accurate guidance through your home buying journey.

Whether you’re exploring your first VA loan or a seasoned military home buyer, having the right lender can help you make the best choices. The Griffin Gold app provides easy access to all your loan information and connects you with our team of VA loan specialists who can help you handle these complex changes.

Ready to begin your home buying journey? Get started online today.

The post The NAR Settlement and Its Impact on VA Loans: What to Know appeared first on Griffin Funding.

KEY TAKEAWAYS

• VA loan affordability depends on several factors, like income, credit score, debt-to-income (DTI) ratio, and mortgage rates.
• Take advantage of our VA loan affordability calculator to help you estimate how much of a house you can afford based on your financial profile.
• Benefits of VA loans include no down payment, competitive rates, and no private mortgage insurance (PMI).

Factors That Impact VA Loan Affordability

Understanding the key factors that influence VA loan affordability is essential for setting realistic expectations and making informed decisions throughout your home-buying journey.

Several factors determine how much home you can afford and the financial stability of your mortgage payments. Here are some of the major factors to consider if a VA loan is an option you’re considering:

Income

Your income is one of the most critical factors in determining VA loan affordability. Lenders assess your gross monthly income to evaluate whether you can comfortably handle your mortgage payment alongside other financial obligations. A steady and predictable income reassures lenders that you can meet your monthly payments without financial strain.

When evaluating income, lenders typically look at:

• Base salary and hourly wages are key since consistent earnings from full-time employment carry the most weight in determining loan eligibility.
• Self-employment income gives lenders a review of at least two years of tax returns to assess the stability of self-employment income.
• Military benefits and allowances benefit active-duty service members, which may include Basic Allowance for Housing (BAH) and other military benefits as part of their income.
• Other sources, such as rental income, investments, and disability benefits, may be considered if they are reliable and consistent.

If you’re unsure how your income measures up, use our VA loan calculator to assess your options and determine what fits comfortably within your budget.

Credit Score

In the simplest of explanations, your credit score impacts the mortgage rates that you can qualify for. While VA loans are more flexible with credit requirements than conventional loans, a higher credit score can secure better interest rates, lowering monthly payments and increasing affordability.

Your credit score impacts several aspects of your loan, including:

• Interest rates: A higher credit score qualifies you for lower mortgage rates, reducing your monthly payment.
• Loan approval: While VA loans are flexible, a poor credit history with late payments or defaults may require additional review.
• Overall loan affordability: A strong credit score means lower interest costs over the life of your loan, saving you thousands of dollars.

A strong credit score also allows you to build a financial cushion by saving more over the life of your loan.

Debt-to-Income (DTI) Ratio

The DTI ratio measures your monthly debt obligations against your gross monthly income. Most lenders prefer a DTI ratio of 41% or lower for VA loans, though exceptions can be made based on compensating factors such as a higher credit score or substantial residual income.

Here’s how to calculate your DTI ratio:

• (Total Monthly Debt Payments ÷ Gross Monthly Income) × 100 = DTI Ratio

If your DTI is higher than 41%, consider paying off debts or increasing your income before applying for a VA loan to improve your eligibility.

Keeping your DTI ratio low enhances your affordability and increases your chances of approval. If your DTI ratio exceeds the preferred threshold, focusing on paying down debts can significantly improve your loan eligibility.

VA Funding Fee

The VA funding fee is a one-time charge that helps keep the VA loan program self-sustaining.

The fee is based on your down payment amount and whether it’s your first VA loan. The amount varies based on factors like the size of your down payment and whether it’s your first VA loan. Making a down payment — even if it’s as little as 5% — can help lower your VA funding fee and reduce overall costs.

Additionally, certain veterans with service-connected disabilities may qualify for exemptions from the VA funding fee, so checking your eligibility for this benefit is important.

Another option to manage this expense is to roll the funding fee into your total loan amount or pay it upfront to avoid accruing additional interest over time. By planning for this expense upfront, you can avoid unexpected surprises during the home buying process.

Mortgage Rates

Mortgage rates fluctuate based on market conditions and individual borrower profiles. VA loan affordability is significantly influenced by current mortgage rates, which can fluctuate based on several factors, including the Federal Reserve’s monetary policy, inflation rates, and overall economic conditions. A lower rate means lower monthly payments, which can significantly impact how much house you can afford.

Your credit score and financial profile also play a crucial role in determining the interest rate you qualify for. Even a small difference in interest rates can translate into thousands of dollars in savings over the life of the loan, making it important to monitor market trends and maintain a strong financial profile to secure the best possible rate.

Monitoring VA loan rates and locking in a favorable rate at the right time can significantly affect your long-term financial outlook.

How Do I Know How Much I Can Get With a VA Loan?

Determining how much you can borrow with a VA loan depends on several factors that outline your financial profile. These include your income, credit score, debt-to-income ratio, and remaining VA entitlement. Lenders use these criteria to assess your borrowing capacity and ensure you can comfortably manage monthly payments.

Applying for a VA loan pre-approval is step number one to getting an accurate estimate of how much you can borrow. During pre-approval, you provide financial details to a lender, such as income, debts, and assets. The lender then evaluates your information and provides a pre-approval letter outlining the loan amount you qualify for. This gives you a clear understanding of your budget and strengthens your position as a serious buyer when negotiating with sellers.

Understanding VA Entitlement

An important step in determining your VA entitlement is obtaining your Certificate of Eligibility (COE). This document verifies your eligibility for the VA loan program and provides detailed information about your available entitlement. Your lender can help you obtain your COE or guide you through the process of applying directly through the VA’s online portal.

Understanding your VA entitlement and working closely with a lender can help you make informed decisions about your home-buying journey.

Why Choose a VA Loan?

VA loans offer numerous benefits that make homeownership more accessible and affordable for eligible borrowers, including active-duty service members, veterans, certain National Guard and Reserves members, and surviving spouses.

These loans come with unique advantages that set them apart from conventional loan options, such as:

• No down payment: One of the most significant advantages of VA loans is that they don’t require a down payment. This allows borrowers to save thousands of dollars upfront and is especially beneficial for people looking to purchase a home without years of saving.
• Competitive interest rates: VA loans typically come with lower interest rates than conventional loans, reducing monthly payments and the total cost of the loan over its lifetime.
• No private mortgage insurance (PMI): Unlike conventional loans that require PMI if you put less than 20% down, VA loans eliminate this added monthly expense, making homeownership even more affordable.
• Flexible credit requirements: VA loans have less stringent credit requirements, making them accessible to borrowers with lower credit scores or limited credit history.
• No prepayment penalty: You can pay off your VA loan early without worrying about additional fees or penalties, giving you the flexibility to save on interest over time.

In addition to these benefits, VA loans are particularly appealing for first-time buyers. They make it easier to enter the housing market, even if you don’t have a significant amount of savings or perfect credit. To help you navigate the process, we’ve created a guide specifically for military first-time home buyers, offering tips and resources tailored to your unique needs.

Try Our VA Home Loan Affordability Calculator Today

Ready to see how much house you can afford? Use Griffin Funding’s interactive VA loan affordability calculator to explore your options. By entering your income, expenses, and other financial details, you’ll receive an estimate tailored to your unique situation. This tool is designed to help you understand your budget and make informed decisions as you embark on your homeownership journey.

Want to learn more about VA loans? Check out our detailed guides on the VA loan process, the VA funding fee, and closing costs if you’re still looking for more information. You can also use our VA loan calculator to get a better idea of what a VA loan might look like for you and how much it would cost.

Download the Griffin Gold app to access all of the tools and smart calculators we have to offer. With our free app, you can easily compare loan options and learn more about how the VA loan program works.

Start your journey toward owning your dream home today. Whether you’re a first-time buyer or looking to upgrade to a larger space, Griffin Funding is here to guide you every step of the way.

The post VA Loan Affordability Calculator: How Much House Can You Afford With a VA Loan? appeared first on Griffin Funding.

The condo you wish to purchase needs to be on the VA-approved condo list to use a VA loan. This ensures compliance with criteria set in place to ensure a standard of quality and financial stability.

In this blog post, we’ll cover the VA condo eligibility requirements and how to navigate the process of buying a condo with a VA Loan. We’ll also discuss how your VA entitlement impacts your purchasing power. Additionally, we’ll provide insights into the importance of working with HOA management and VA-approved lenders to ensure you’re well-informed and equipped to purchase your condo using your benefits.

Can You Buy a Condo With a VA Loan?

Yes, you can buy VA-approved condos with your VA loan. Although it is more common to buy single-family homes, VA loans offer flexibility regarding the types of properties you can purchase.

In addition to single-family homes, condos, and mobile homes, you can use a VA loan to purchase a townhouse and even multi-unit properties (up to 4 units) as long as one of the units is your primary residence.

With this in mind, it’s important to verify that the condo you’re interested in is VA-approved because not all condos meet VA loan eligibility criteria.

VA Condo Approval Requirements

VA condo approval is dependent on several requirements. Specific criteria must be met in order to attain VA loan financing eligibility. These conditions are in place to ensure that condos are financially stable and suitable for veterans.

These are the key VA condo approval conditions:

• Occupancy requirements: At least 50% of the units in the condo community must be owner-occupied, meaning the majority of residents live in the condos they own.
• Financial stability: The condo project must be financially stable with a well-managed homeowners association (HOA), fitting in the VA loan limits. Additionally, at least 85% of residents must be up-to-date on their HOA dues.
• No litigation: The condo association cannot be involved in any sort of ongoing litigation.
• VA appraisal: The specific unit you’re interested in must meet condition and value appraisal standards as determined by the VA.
• Legal compliance: Condominiums must comply with all local, state, and federal laws.
• HOA fees: All HOA fees need to be within the range that a VA borrower can afford in addition to their mortgage payments.

Download the Griffin Gold app today!

Take charge of your financial wellness and achieve your homeownership goals

Use invitation code: GRIFGOLD to register.

Does the VA Have an Approved Condo List?

Yes, the VA has an approved condo list. The VA implements a thorough review process to determine eligibility of condos for VA financing. You can check the VA’s official website for a list of pre-approved condos.

The VA maintains this list of condo projects that have already met the eligibility criteria needed for VA loan financing. Prospective homeowners should follow these steps for using the VA-approved condo list:

1. Verify eligibility: Prospective homeowners can search for specific condo projects or browse through the list to explore options.
2. Select properties: After finding a VA-approved condo, home buyers can choose a property that is eligible.
3. Leverage streamlined processes: When a condo is already on the VA condo approval list, the VA loan process will be much simpler. This leads to quicker and smoother closing.
4. Check ongoing updates: The list is periodically updated. Projects may be added or removed based on compliance with criteria.

Overall, the VA-approved condo list is a valuable resource for active-duty service members and veterans for simplifying the homebuying process. It makes it easier to facilitate loan approval and purchase a suitable condo.

What Do the VA Condo Approval Statuses Mean?

You’ll likely encounter numerous statuses when checking VA condo approval. Approval status helps prospective homeowners and lenders alike understand the current standing of a condo project in relation to VA loan eligibility.

This list outlines the various statuses and what they mean:

• “Accepted Without Conditions” – All VA requirements have been met. There are no additional conditions needed for the condo to receive VA financing.

• “HUD Accepted” – The project is approved by the US Department of Housing and Urban Development (HUD). This means the condo meets the basic eligibility requirements for VA financing.

• “Accepted Subject to Review of Legal Documents” – The project is conditionally approved pending review of legal documents related to VA compliance.

• “Accepted Subject to Recertification” – The condo was previously approved but requires recertification to ensure ongoing compliance.

• “Unaccepted” – VA requirements were not met. This means VA financing is not available for units within this condo project.

• “Withdrawn” – A condo project previously on the VA condo approval list was removed due to changes or problems associated with eligibility.

• “Expired” – Approval has lapsed. The project needs to go through the approval process again to regain eligibility status.

What If a Condo Isn’t on the List?

You have several options to consider if you have your heart set on a condo but can’t find it on the VA-approved list.

If you want to use your VA loan benefits to purchase a condo that’s not on the list, you can work with the condo’s HOA or management to request VA approval. If all eligibility criteria as outlined above are met, your condo can be submitted for VA approval.

Another option is to seek lender assistance. Many lenders have prior experience with VA loan rates and the condo approval process. If they are willing to assist with getting the project approved, they can guide you through the process and documentation required.

You can also check the approved list periodically to see if the condo you’re considering has gained VA approval.

While you are working on getting approval, it may be worthwhile to explore other properties. Condos that are already on the list are easier to purchase with VA financing, so if you’re looking to speed up the process, then opt for a unit already on the list.

What Is the VA Condo Approval Process?

First off, it’s important to keep in mind that the condo approval process can be time-consuming due to the detailed procedure. The process often involves multiple parties, and approval isn’t guaranteed.

Here’s a closer look at what to expect throughout the process:

1. Eligibility review: The condominium management or HOA submits a formal request to initiate the process for VA condo approval.
2. Documentation submission: The HOA or management provides comprehensive documentation, including financial statements, governance documents, insurance information, and more.
3. VA review: The VA looks into the documentation provided to assess when the project meets all outlined requirements.
4. Legal compliance check: The VA then conducts a legal review of the condo’s governing documents. This includes HOA bylaws, conditions, and restrictions.
5. Appraisal: After passing the initial review, individual units within the condo project may undergo VA appraisals. This helps determine if the condition and value of individual units meet VA standards.
6. Conditional approval: If minor changes or documentation updates are required for a condo that meets all other VA criteria, it will receive conditional approval. Required changes or conditions must be met to obtain full approval.
7. Full approval: Condo projects receive full approval after meeting all specifications and are added to the approved list. This means units within the project are now authorized for VA loan financing.
8. Periodic recertification: Over time, approved projects may need to undergo recertification to ensure ongoing adherence to VA standards.

Documentation Needed for VA Condo Approval

Before a condo can be approved for VA financing, certain documentation must be submitted to the VA for review. This paperwork helps ensure the condominium meets VA requirements for safety, financial stability, and legal compliance. As a borrower, you may need to provide the following documents during the VA condo approval process:

• Recorded master deed or condominium declarations: Legal documents outlining property ownership, rights, and restrictions.
• Project plat maps or condo site plan: Plans showing how the property is divided and organized.
• Recorded Articles of Incorporation: Official documents establishing the condominium association as a legal entity.
• Signed copy of condo bylaws: Governing rules that outline property management and ownership responsibilities.
• Financial statements: Recent budgets, reserve fund details, and financial reports to assess the condo’s financial health.
• HOA meeting minutes: Records from recent homeowner association meetings to identify any potential concerns.
• Litigation history: Documentation of any ongoing or past legal disputes involving the condo association.
• Insurance policies: Proof of adequate coverage for common areas and the overall condominium project.
• Occupancy rates: Information on owner-occupied versus rental units within the condo complex.
• Special assessments or pending projects: Details on any upcoming assessments or major renovations that could impact condo fees.

Providing these documents helps streamline the approval process and ensures your desired condo meets VA loan eligibility requirements.

Secure a VA Condo Loan Today

Understanding the VA loan criteria and approval process can help you fulfill your dream of purchasing property in a condominium community. Once you’re ready to move forward, you’ll need a lender who can help you get a VA purchase loan. That’s where we come in.

Griffin Funding specializes in VA loans, including VA cash-out refinance and VA streamline refinance options, and our team is committed to assisting veterans throughout the entire loan approval process. We even offer free tools like our VA loan calculator and the Griffin Gold app, which makes it easy to manage your finances and compare mortgage options.

Take the first step towards owning your ideal condo by applying for a VA loan with Griffin Funding today.

The post VA Approved Condos: Navigating the VA Condo Approval Process appeared first on Griffin Funding.

Among the VA’s stringent requirements are the Minimum Property Requirements (MPR), which are established to protect the buyer and ensure the home they’re investing in is safe, sound, and free from potential hazards or significant defects.

Pest inspections, specifically termite inspections, are a significant aspect of these MPRs. Termites, though tiny, can cause extensive damage to the structural integrity of homes, leading to hefty repair costs in the long run. The VA recognizes the potential risks associated with these pests and requires thorough inspections before approving loans.

Keep reading to learn more about the VA loan termite inspection requirements and how they might impact your home loan process.

The Role of VA Loan Termite Inspections

The VA termite inspection is an evaluation of the property to detect the presence of termites or other wood-destroying insects. As part of the VA inspection requirements, qualified professionals will examine the home’s interior and exterior, including crawl spaces, basements, and the foundation. These individuals look for signs of active termite infestations, past damages, and conditions that may make a house more susceptible to infestations, such as moisture accumulation or wood-to-ground contact.

The purpose behind the termite inspection for a VA home loan is to ensure the safety of the potential homeowner. Since termites can compromise the structural integrity of a property, they can turn it into a potential hazard.

At the same time, this inspection ensures a sound investment. A termite-infested home may require significant, costly repairs. Detecting these issues early on prevents potential buyers from spending money on a property that may not be worth it.

Are Termite Inspections Required for VA Home Loans?

The termite inspection is designed to protect the VA’s, lender’s, and borrower’s investment and ensure the safety of the property for the buyer. But is a termite inspection required for a VA loan?

Typically, the VA uses the Termite Infestation Probability Map to determine if a termite inspection is required for a VA home loan. The VA doesn’t mandate termite inspections for every loan application. However, termite inspections are explicitly required in areas with a high likelihood of infestation. In these regions, termites are often a regular concern and potentially jeopardize a home’s structural integrity, diminishing its value.

Some states that require termite inspections include:

• Alabama
• Arizona
• Arkansas
• California
• Connecticut
• Delaware
• Florida
• Georgia
• Hawaii
• Illinois
• Indiana
• Kansas
• Kentucky
• Louisiana
• Maryland
• Mississippi
• Missouri
• Nevada
• New Jersey
• New Mexico
• New York
• North Carolina
• Ohio
• Oklahoma
• Pennsylvania
• South Carolina
• Tennessee
• Texas
• Utah
• Virginia
• West Virginia

In some cases, VA termite inspections are only required in specific counties or regions. The VA will notify you if you’re required to get an inspection.

That said, even if you’re not required to get a termite inspection by the VA, your lender might still need it. It’s always a good idea to discuss the specifics with your lender to understand what’s required.

Download the Griffin Gold app today!

Take charge of your financial wellness and achieve your homeownership goals

Use invitation code: GRIFGOLD to register.

Who Pays for a Termite Inspection on a VA Loan?

In previous years, the VA required the seller or lender to pay for the inspection. But now, the responsibility can shift depending on the state or deal negotiated between the buyer and the seller.

The homebuyer can often pay for the termite inspection as part of their closing costs. If they can’t, the seller or another party must cover the expense. There are also limits on the fees charged to VA loan borrowers to protect them from excessive charges and ensure the responsibility doesn’t become a burden for them. Using tools like a VA loan calculator can help prospective homeowners understand their potential monthly payments and overall loan costs.

If the property is located where the borrower can pay for the inspection, the buyer and seller can negotiate who handles the cost. The payment could be the seller’s responsibility, especially in a strong buyers’ market, or if the termite inspection is a condition set by the buyer during the negotiation phase.

Alternatively, if the property has multiple interested buyers, the veteran might pay for the inspection to facilitate the purchase process and give them more negotiating power.

In cases where the VA doesn’t allow the buyer to pay for the termite inspection, the seller usually pays. If they refuse, another party, such as the lender or real estate agent, can cover the cost.

Keep in mind that no matter who pays, the purpose of the VA termite inspection is to protect the investment and guarantee the safety and longevity of the home. Both the buyer and seller are interested in ensuring the property is free from termite damage, so it’s beneficial for all parties to cooperate.

Resolving a Failed VA Termite Inspection

A failed VA termite inspection can initially be a cause for concern. However, understanding what happens next can lead to an efficient resolution. While the VA and lender can deny your loan if the home fails inspection, there are steps you can take to secure your investment, such as:

• Treatment and repairs: The most immediate step after a failed termite inspection is for the seller to address the infestation by contacting a professional exterminator and treating the property. In addition, any damage must be repaired before the VA considers approving the loan.
• Reinspection: After treatment and repairs, a reinspection will ensure the termites have been eradicated and all damages addressed. The VA will not approve the loan if there are still signs of an active termite infestation or untreated damage.
• Negotiations: Depending on the severity of the termite damage, the buyer and seller may need to negotiate terms regarding repair costs. Sometimes, the seller agrees to cover all costs, but there may be situations where expenses are divided or responsibilities are shifted based on negotiations.

Once termite issues are addressed, the loan process can proceed. However, the VA may require additional documentation or evidence that the termite problem has been resolved before giving final approval.

Termite inspections are valid for 90 days from the date of the inspection. Ideally, the loan application process should be completed within this timeframe. If the closing process is delayed, a new inspection may be required.

Secure Your Property Investment With a VA Loan Termite Inspection

Securing a property with a VA loan goes beyond the financial aspects to ensure the longevity and safety of your home. In some states, termite inspections are mandated by the VA and play a crucial role in loan approval. These inspections protect your investment by ensuring your property isn’t compromised by wood-destroying pests.

Along with passing a termite inspection, you’ll need to meet credit and income requirements in order to get approved for a VA loan and receive a favorable interest rate. To better prepare yourself financially for the VA loan application process, consider downloading the Griffin Gold app. Our all-in-one financial wellness app allows you to monitor your credit, customize your budget, browse real estate listings, and much more.

As a premier VA loan lender, Griffin Funding understands the importance of adhering to all VA regulations, including the termite inspection. We’re dedicated to helping veterans navigate the VA loan process with ease, ensuring all requirements are met to the highest standards. Apply for a VA loan today.

The post Ultimate Guide to VA Loan Termite Inspections appeared first on Griffin Funding.

However, a common misconception is that borrowers can’t use a VA loan for mobile home purchases. Many types of properties qualify for VA loans, including manufactured homes. Unfortunately, not all lenders allow you to purchase a manufactured home with their VA loan programs, but many do, including Griffin Funding.

Keep reading to learn more about using a VA loan for mobile home purchases to help you determine if you’re eligible for the benefits of this unique financing option.

Can a VA Loan be Used to Purchase a Mobile Home?

VA loans are known for their versatility. However, we must clarify that VA loans for mobile homes are possible. Today’s modern “mobile home” is actually manufactured or modular and permanently affixed to a foundation. A traditional mobile home is “mobile,” so it doesn’t have a permanent foundation, making it easy to move. So, while VA loans can’t be used for traditional mobile homes built before June 15, 1976, they can be used for manufactured homes.

Manufactured homes are those built after that date and adhere to specific construction and safety standards. Therefore, getting a VA loan for a manufactured home is possible if you find a lender who offers them.

Pros and Cons of Financing a Manufactured Home with a VA Loan

VA manufactured home loans aren’t offered by every VA loan lender. However, you can still use a VA manufactured home loan. What you can’t do, though, is use VA loans for mobile homes built before June 15, 1976, so keep that in mind.

Just like every type of home loan, VA manufactured home loans have pros and cons. Understanding these benefits and drawbacks will ensure you make the right decision for you and your family.

Pros of manufactured home VA loans

The pros of manufactured home VA loans are the same benefits you get when you use a VA loan for any other type of primary residence and include the following:

• No down payment requirement: VA loans generally don’t require down payments unless you’ve already used your VA loan entitlement on another property and haven’t sold it. This can make homeownership more accessible for veterans and active duty service members.
• Limited closing costs: VA manufactured home loans come with limited closing costs. The costs not permitted by the VA are paid by the seller, making this loan more affordable for borrowers.
• Competitive interest rates: VA loans offer competitive rates compared to traditional financing options, which can lead to lower monthly payments and savings over the life of the loan.
• No PMI required: Unlike conventional loans, where borrowers might have to pay private mortgage insurance if they don’t make a certain down payment amount, VA loans don’t require PMI, which can result in further savings.

Cons of manufactured home VA loans

While VA loans for manufactured homes come with many benefits for eligible borrowers, they also have potential drawbacks, such as:

• Depreciation: Unlike traditional homes, manufactured homes are similar to vehicles and can depreciate in value over time. This could make selling or refinancing them more challenging in the future.
• Loan limits: How much you can borrow depends on where the home is located and how much of your entitlement you’ve already used. You can use a VA loan calculator to determine how much you can borrow based on whether you’ve used a VA loan before or are a military first-time home buyer.
• Land restrictions: If the manufactured home isn’t permanently affixed, it may not qualify for a VA loan. This is because VA loans for mobile homes are secured by the home and land where it stands. If the home isn’t attached to the ground, it’s considered personal property rather than real estate. Additionally, you may need to own the land to secure a VA loan from a lender.
• Resale challenges: While getting a VA loan for a manufactured home is possible, these homes are typically harder to sell than site-built homes because of the social stigma around manufactured homes and the perceived depreciation.

Download the Griffin Gold app today!

Take charge of your financial wellness and achieve your homeownership goals

Use invitation code: GRIFGOLD to register.

How to Get a Manufactured Home VA Loan

While VA mobile home loans don’t technically exist because true mobile homes aren’t affixed to a permanent foundation, you may still qualify for a VA loan for a manufactured home if you and the property meet specific lending criteria.

Lending requirements vary by lender, so it’s important you understand the criteria before applying.

Eligibility

Before securing a VA manufactured home loan, you’ll need to determine if you’re eligible by obtaining your Certificate of Eligibility (COE) from the VA. This document confirms your entitlement to the VA home loan benefit. You’ll also need to meet your lender’s criteria, which means proving income and creditworthiness.

Additionally, the VA requires the property to meet specific standards to qualify for this loan. Generally, a manufactured home must be affixed to a foundation; thus, it can’t be a true mobile home.

Requirements

As mentioned, both the borrower and property must meet certain requirements to qualify for a VA loan for a manufactured home.

The VA sets minimum property requirements (MPRs) for all properties purchased with a VA loan to ensure it’s safe, sanitary, and structurally sound. The VA requires that manufactured homes be affixed to a permanent foundation.

In addition to the VA’s requirements, the home must be classified as real estate to qualify for a home loan and meet construction standards legally mandated for manufactured homes.

The borrower must meet the VA’s and lenders’ requirements to qualify for the loan. The VA doesn’t set minimum credit score provisions, so they vary by lender, but most like to see a score of at least 620.

One of the benefits of VA loans for manufactured homes is that down payments aren’t necessary. However, if you’ve already used your entitlement and it hasn’t been restored, you may owe a down payment to cover the difference between the loan amount and what the VA will guarantee.

While the VA limits closing costs for borrowers, you’ll still be required to pay the VA funding fee. If this is your first time using the VA loan, your funding fee will be 2.15% of the loan amount. However, if you’re already using your entitlement, you’ll pay a funding fee of 3.3%.

Financing Alternatives for Mobile and Manufactured Homes

While the VA manufactured home loan is a viable option for financing your home, they’re not the only form of financing available. If you want to purchase a mobile or manufactured home, there are other financing options available through Griffin Funding, such as:

• Conventional loans: With conventional mortgages, you can expect competitive interest rates and terms, but they require higher credit scores and a larger down payment than VA loans.
• FHA loans: The Federal Housing Administration guarantees loans for manufactured homes and lots. FHA loans come with lower credit score requirements and smaller down payments compared to conventional mortgages. However, borrowers must pay an upfront mortgage insurance premium (MIP) and an annual MIP, adding to the cost of the loan.
• Chattel loans: Chattel loans are personal property loans that can be used for mobile homes that aren’t considered manufactured homes and don’t qualify for home loans because they’re not permanently attached to land or a foundation. These loans offer a faster and easier approval process and require a smaller down payment. However, interest rates on these loans are higher than most mortgages since the loan isn’t secured by real estate.
• In-park financing: Many mobile home parks offer financing options for homes located within the park. With this option, you can expect a smoother approval process and faster closing. However, interest rates and terms may not be as favorable as other financing options.

Secure a Manufactured Home with Griffin Funding

VA loans for mobile homes—those not affixed to a permanent foundation—aren’t available. However, you can use a VA loan to purchase a manufactured home. Whether this option is right for you depends on your personal needs, financial situation, and long-term housing goals.

Unlike many other VA loan lenders, Griffin Funding offers VA loans for manufactured homes. We simplify the process of securing a VA loan, from obtaining your COE to closing the deal. Apply for your first VA loan with Griffin Funding today.

The post Your Complete Guide to VA Loans for Mobile Homes and Manufactured Properties appeared first on Griffin Funding.