Areas We Serve

Griffin Funding specializes in VA home loans and is proud to offer them to veterans and active service members throughout the entire state of Iowa. So whether you’re looking for a VA loan in Des Moines or want to refinance your existing house in Waterloo, Griffin Funding has you covered. Here is just a sampling of the cities we cover:

  • Des Moines
  • Cedar Rapids
  • Davenport
  • Sioux City
  • Iowa City
  • Ankeny
  • Ames
  • Waterloo
  • Council Bluffs
  • Mason City

How Do VA Loans Work in Iowa?

In Iowa, VA home loans provide active-duty service members, veterans, and eligible spouses with mortgage financing that is backed by the U.S. Department of Veterans Affairs (VA), which greatly lowers financial risk to lenders. As a result, Griffin Funding can offer VA purchase loans with low rates and no down payment requirements.

First-time VA loan borrowers, or those who have completely paid off a previous VA loan and sold the home, are typically eligible for “full entitlement.” This means that the VA may guarantee 25% of the total home loan amount, regardless of traditional VA loan limits. In this case, no down payment is typically required.

However, if clients are still paying off an existing VA home loan in Iowa, still own a home purchased with a VA loan, or have defaulted on their VA loan in the past, they may still be eligible for a “partial entitlement.” VA loan limits will apply in this case. The VA will still guarantee 25% of the loan, but only up to the VA loan limit. Any amount over this will need to be bridged by the purchaser – typically with a down payment.

VA Loan Limits in Iowa

Up until 2020, VA loan limits traditionally specified the maximum amount that could be borrowed before a down payment was required. However, after the Blue Water Navy Vietnam Veterans Act of 2019 was passed, limits were disregarded for borrowers with full entitlement. That means that a qualified veteran may be able to secure 100% financing on their Iowa home with a VA loan, regardless of any loan limits.

However, partial entitlements are still subject to VA loan limits. Currently, the limits for a single-family home in Iowa are between $766,550 and $1,149,825.

It is important to note that a partial entitlement does not mean that the house must fall within the specified limits. However, any amount over the limit will need to be bridged by the buyer with a down payment.

Pros and Cons of VA Loans

While there are several fantastic benefits of VA loans in Iowa, potential borrowers should be informed of both sides of the equation. Here are some of the most important pros and cons:


  • No down payment required
  • Low interest rates
  • FICO scores as low as 550 can be approved
  • Private mortgage insurance (PMI) isn’t required
  • Limited closing costs
  • No prepayment penalties


  • Must meet service requirements in order to qualify
  • Must pay the VA funding fee
  • Must adhere to occupancy requirements
  • VA loans are typically not available for investment properties (Iowa DSCR loans are a great option for this situation)

If a VA home loan in Iowa sounds like a good fit for you, consider downloading the Griffin Gold app to monitor your financial strength, begin building up your credit score, and create an action plan to get the home of your dreams.

Types of VA Home Loans We Offer

When it comes to VA home loans in Iowa, we offer several programs to meet your needs:

  • VA Purchase Loan: Iowa VA purchase loans feature very competitive rates, no down payment requirement, and limited closing costs for veterans and qualifying service members.
  • VA Streamline Refinance : These are a popular option for Iowa homeowners who are looking to refinance their existing VA loan at a lower rate. These interest rate reduction refinance loans (IRRRL) provide several advantages over traditional refinancing, including no required appraisal, no pest inspection, no income qualification, and no need for another Certificate of Eligibility (COE).
  • VA Cash-Out Refinance: Qualified veterans who use a VA cash-out refinance loan can extract cash from their home’s equity while refinancing their existing VA loan or conventional mortgage with a lower rate. Loans can be granted for up to 100% of the home’s value, and effectively replaces the current loan. Homeowners can then use that cash to pay off an old mortgage, perform home repairs and upgrades, or pay down other debts as desired.

Who Qualifies for a VA Home Loan?

While the qualifying criteria for a VA home loan in Iowa are generally far more flexible than with conventional mortgages, you will still need to have a strong application for the best chances at approval and a competitive rate. Here are some of the important items you will need to start the process:

  • Identification: Valid driver license or other government-issued ID.
  • Certificate of Eligibility (COE): This must be obtained directly from the VA. Your COE proves that you meet the necessary service requirements to be considered for a VA home loan. It is advisable to obtain your COE as soon as you can to avoid delays in the funding process.
  • Proof of income: Pay stubs, tax returns, and W-2 forms can all be used to verify income
  • Credit Score: You will need a minimum credit score of 550 to qualify for a VA home loan in Iowa. However, a better credit score will help you qualify for better rates and terms.

Apply for a VA Loan in Iowa

If you are a veteran or active service member and are looking into buying a home or refinancing your current home, a VA loan in Iowa may be a great solution. Griffin Funding is proud to specialize in this program, and our knowledgeable agents are standing by to walk you through the process.

Once you apply, the VA loan timeline with Griffin Funding moves quickly – most applicants can close on their loan in 30 days or less. This is the speed you can trust from a lender that prides itself on knowing VA home loans inside and out. Fill out an online application to get started!