Do you dream of becoming a homeowner, but have concerns that your finances might keep homeownership out of reach? If you’re a servicemember, veteran or eligible surviving spouse, your home-owning dreams might be closer to reality than you think. You have exclusive access to one of the best home loans on the
market—the Department of Veterans Affairs (VA) home loan. Learn what to expect from the VA loan process, and you’ll be one step closer to homeownership. 

6 Steps to Homeownership With a VA Loan

Buying a home with a VA loan can take planning and effort, but we’ve helped simplify the process by breaking up the process into 6 steps.

  1. Find a lender. Getting pre-approved for a mortgage can help you narrow your home search to what’s affordable for you and give you an edge when negotiating a purchase. Navy Federal is a top-ranked VA lender and closes thousands of VA loans each year. The mortgage calculators from Navy Federal can help you:
    • understand how buying a home can fit into your budget
    • decide how much you can spend on a home  
    • estimate closing costs
  2. Choose a real estate professional.  Asking friends or family for a referral is a good place to start. You can also drive around a neighborhood you’re interested in and notice which real estate agents have the most “For Sale” signs. Be sure the person you select is familiar with the areas in which you’re interested. Navy Federal’s RealtyPlus®1 program connects members with a referral to an experienced real estate agent, a personal real estate coordinator, and expert community and neighborhood information. Plus, when you close on a home with a RealtyPlus agent, you get cash back.
  3. Get a Certificate of Eligibility (COE) from the VA. The VA confirms your military service and verifies that you’re eligible to receive a VA-guaranteed loan. You can apply online through the U.S. Department of Veterans Affairs, or Navy Federal will establish eligibility and obtain a COE for you (if the VA has sufficient data in its records).
  4. Find a home and sign a purchase agreement. The sales and purchase agreement must contain a “VA Option Clause,” which states that you’re not obligated to complete the purchase if the purchase price exceeds the reasonable value of the property established by the VA.
  5. Complete the VA Loan Process. Work with your lender to gather the required documentation and complete a loan application. Your lender will order a VA appraisal.2
  6. Close the loan and move in. A closing company or attorney will conduct the closing and coordinate the date and time that the home is to be transferred to your name.

Enjoy the Benefits

By choosing a VA loan for your home purchase, you’ll enjoy a number of unique advantages. For example, a VA loan requires no down payment, meaning you can buy a home without needing to save for a down payment. You’ll also enjoy the benefit of lower closing costs and no need to pay for private mortgage insurance. Explore the biggest advantages of VA loans.

Start Your Path to Homeownership

Find your way home by exploring RealtyPlus and getting pre-approved for a VA loan through Navy Federal Credit Union. Not sure which loan is best for you? We offer many different home loan options, including the Military Choice Mortgage3 for servicemembers who have already used, or are saving, their VA loan. It’s easy to compare loans and apply online.

1The cash-back bonus is offered in most states and is available for individual sales and purchases of property; offer limited to one cash-back bonus per property with no limit on the amount of times you may use the program. In some states, a gift card or commission credit at closing may be provided in lieu of the cash-back bonus. The program is not available in IA or outside the U.S. Cash-back bonus is not available in AK, LA or OK. In KS and TN, a gift card with pre-loaded points that are ready for spending at specified retail establishments after closing will be issued. State regulations in KS limit the dollar amounts and the type of incentive. In MS, NJ and OR, a commission reduction may be available at closing. Please check with the program coordinator for details. This is not a solicitation if you are already represented by a real estate broker. The cash-back bonus is only available with the purchase or sale of your home through the use of a program-referred and -approved real estate agent. All real estate transactions are negotiable. Contact RealtyPlus for terms and conditions.2Note: VA's appraisal is neither a home inspection nor a guaranty of value. It's just an estimate of the market value on the date of the inspection. Although the appraiser does look for obviously needed repairs, VA doesn't guarantee the condition of the house. The appraiser, who is licensed, isn’t a VA employee.3All Choice loans require a 1.00% origination fee. The origination fee may be waived for a 0.25% increase in the interest rate. All Choice loans are subject to a funding fee of 1.75% of the loan amount. This funding fee can be financed into the loan up to a maximum of 101.75% LTV. Purchase loans require no down payment. LTV restrictions apply to refinance loans. Note: To be eligible for Military Choice, at least one borrower must be Active Duty or a veteran.


Product features subject to approval. 100% financing loans may include an additional funding fee, which may be financed up to the maximum loan amount. Available for purchase loans only.