VA hub
Down payment and entitlement
Two words that come up in every VA loan conversation.
The down payment
A VA loan often needs no down payment. That can depend on your entitlement, the price and the lender. You may still choose to put money down, and it can lower the funding fee.
Entitlement
Entitlement is the amount the VA will back for you. It is what lets a lender lend without a down payment. Using it on one loan can leave less for another, and it can be restored in some cases.
Loan limits
For many borrowers with full entitlement the VA sets no cap of its own, but a lender sets how much it will lend. In other cases county limits apply. A lender can tell you which applies.
Credit and income
The VA does not set one credit score for everyone. Each lender does. Lenders also look at income, debts and what the VA calls residual income, the money left each month after major expenses.
What this rests on
Amounts and limits change and differ by lender and by county. Ask a lender, and read the official page. Read the official page.
More VA topics
- How a VA loan worksA regular loan from a regular lender, with a government guarantee behind it.
- Who may be eligibleThe VA decides, and it looks at service, not at a person's background.
- The Certificate of Eligibility (COE): a walk-throughThe COE is the VA's proof that you may use the home loan benefit. Most lenders ask for it. Here is how to get one.
- The funding feeA one-time cost that helps keep the VA loan program running.
- The VA appraisal and the homeThe VA looks at the house as well as the buyer.
Educational only. AskResi is not a lender.