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VA Loan FAQs

Who’s eligible for a VA loan?

To begin to qualify for a VA loan, the Veteran must have: 

  • 90 consecutive days of active service during wartime, and/or
  • 181 days of active service during peacetime, and/or
  • more than 6 years with the National Guard or Reserves

The Veteran also must have a Certificate of Eligibility. For a complete list of eligibility requirements, visit the VA website.

A surviving military spouse who hasn't remarried could also be eligible for a VA loan. The surviving spouse must have been married to a qualifying servicemember who died in the line of duty or as the result of a service-related disability. For more information about VA loan programs for qualifying military spouses, visit the VA website.

What are the benefits of a VA loan?

Some of them are: 

  • lower mortgage rates
  • lower or no down payments1
  • no private mortgage insurance (PMI)
  • excellent refinance programs that could help qualified Veterans lower their payments or get cash back from equity
  • more flexibility if you have a limited housing budget
  • could still be approved even with less than perfect credit history
  • help with closing costs. Your real estate agent can help negotiate with the seller to contribute up to 4% of the established reasonable value of the property (purchase price) toward certain closing costs (known as seller concessions).
  • no penalty fee if you pay off the loan early

If you’re interested in buying or refinancing a home with a VA loan, we can help. As a Top VA Lender,2 we understand the unique needs of servicemembers, Veterans and their families and can help you take advantage of the benefits you’ve earned.

What are the current VA loan rates?

You can view today's rates here. 



100% financing subject to all VA rules, guidelines, and additional program requirements. All loans subject to approval. VA loans may include a funding fee, which may be financed up to the maximum allowed loan amount. Navy Federal has no affiliation with U.S. Department of Veterans Affairs or any other government agency.


Navy Federal Credit Union was included in 9 Best VA Lenders in March 2024 by

This content is intended to provide general information and shouldn't be considered legal, tax or financial advice. It's always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.