01 / What you borrow
Starting loan balance
Price less down payment
Financed funding fee
Total funding fee
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THEWING.AIVA home loan field guide
VA Command Center
Know your benefit. Explore the costs. Get ready for a conversation with your lender.
Built for your service. Clarity for your next home.Independent education · Estimates are not loan approvals.
01 / The VA Loan Benefit
A benefit you earned.
Possibilities to explore.
VA helps eligible Veterans, service members, and surviving spouses buy, improve, or refinance a home. Explore what the benefit can do—and what to know before you use it.
0%Down payment possible.Keep more flexibility in your upfront budget.Tap to look closer
No down payment is usually required when the sales price does not exceed the appraised value. Your entitlement, lender, and situation matter. Closing costs and other cash needs may still apply.
No PMIOne less monthly cost.VA loans do not require mortgage insurance.Tap to look closer
There is no monthly private mortgage insurance (PMI) or FHA-style mortgage insurance premium. You still budget for principal, interest, taxes, homeowners insurance, and any HOA dues. A VA funding fee may apply.
Use againBuilt for more than once.Your benefit may support a future move, too.Tap to look closer
The benefit can be reused. Available or restored entitlement and occupancy requirements affect your next loan. Have a lender review your Certificate of Eligibility (COE), especially if you still have a VA loan.
Most VA home loans come from private lenders, with VA guaranteeing part of the loan. Benefit eligibility, lender preapproval, and final loan approval are separate steps.
Explore your options
What would you like to do?
Choose a goal to explore a loan type.
This is a starting point, not an eligibility decision.
A place to call home
Your purchase path
VA purchase loan
Buy a home you intend to live in. Eligible purchases can include a house, a VA-approved condo, or a multi-unit property with up to four units.
What to knowYou need sufficient entitlement, qualifying credit and income, and a property that meets VA and lender requirements.
Explore VA’s purchase guidance ↗Compare all four loan types
| Loan type | What it can do | Key distinction |
|---|---|---|
| Purchase | Buy, build, or improve an eligible home you intend to occupy. | Private lender; VA guarantees part of the loan. Credit, income, entitlement, and property review apply. |
| IRRRL | Refinance an existing VA loan to reduce payments or move from an adjustable to a fixed rate. | VA-to-VA refinance. Costs and benefit requirements apply; a lower payment does not necessarily mean a lower total cost. |
| Cash-out refinance | Replace a VA or non-VA loan; may allow you to take cash from home equity. | A new loan with credit, income, and appraisal review. Accessed equity becomes debt secured by your home. |
| Native American Direct Loan (NADL) | Buy, build, or improve a home on federal trust land, or refinance an existing NADL. | VA lends directly. Native American Veteran or spouse, tribal agreement, and other program requirements apply. |
Make the numbers tangible
Meet the funding fee.
A one-time fee that helps support the program. Your loan type, prior use, down payment, and exemption status can change it.
A small move on the slider.
A clearer picture of the fee.
$350,000 purchaseIllustration only · not a loan quote
Standard VA purchase loan
0%20%
Use arrow keys to adjust by one percentage point. Fee rates change at 5 and 10 percent down.
Illustrates an exemption; it does not confirm yours.
Your lender must verify your status.
Example VA funding fee
$7,525.00
2.15% of the base loan
Down payment$0
Base loan before fee$350,000
Below 5% down, the first-use fee is 2.15%. Putting 5% down moves this example to the 1.50% tier.
Fee = (purchase price − down payment) × fee rate.
Closing costs and other prepaid expenses are not included.
First-use fee amounts. Bars share a $0–$11,550 scale. More down reduces the fee but uses more cash upfront.
A smaller fee is only part of the decision. Compare the cash you put down, your total closing funds, and the payment you can comfortably manage. For a purchase loan, the funding fee can generally be paid at closing or included in the loan; financing it increases the balance and interest paid.
See the purchase funding-fee table
| Down payment | First use | Subsequent use |
|---|---|---|
| Under 5%Selected tier | 2.15% | 3.30% |
| 5% to under 10%Selected tier | 1.50% | 1.50% |
| 10% or moreSelected tier | 1.25% | 1.25% |
If you are exempt, the funding fee is $0 regardless of down payment. Prior use solely for a manufactured home not permanently affixed may qualify for the first-use rate; ask your lender.
Who may be exempt from the funding fee?
Examples include borrowers receiving VA compensation for a service-connected disability; those eligible for it but receiving retirement or active-duty pay instead; and surviving spouses receiving Dependency and Indemnity Compensation (DIC).
Some service members with a qualifying proposed or memorandum disability rating before closing, and active-duty Purple Heart recipients who provide evidence before closing, may also be exempt. Have the lender verify your status before you close.
What about refinance fees and other closing costs?
An IRRRL has a 0.50% funding fee. A cash-out refinance generally has a 2.15% first-use or 3.30% subsequent-use fee. NADL fees are 1.25% for purchase and 0.50% for refinance. Exemptions may apply.
The funding fee is separate from other closing costs and prepaid expenses. On a standard VA purchase loan, only the funding fee can be financed as a closing cost; ask your lender how the remaining costs will be covered. Get an itemized Loan Estimate to compare actual offers.
Ready to see the full picture?Explore payments, cash to close, and loan comparisons.
02 / The Numbers →A Military Decision Platform
Go Beyond the Numbers
A useful estimate shows its inputs and limits. Official benefit tables, household information, and TheWing’s planning rules serve different purposes; we explain each separately.
02 / The Numbers
See where the dollars go.
Change the sliders to see what you borrow, pay each month, and bring to closing. This purchase example assumes full entitlement and an appraisal at or above the price.
Build a sample purchase
Example values only. The starting interest rate is a planning assumption, not a current quote.
Have your lender verify exemption status. This checkbox does not establish eligibility.
Adjust taxes, insurance & other costs
Closing-cost input excludes down payment and the VA fee. Include applicable lender/title charges, points, buyer-agent fees, prepaid interest, and initial escrow deposits. Do not include charges already paid separately. Credit eligibility must be confirmed by your lender.
Defaults: property tax 1.2% of price per year; insurance $1,750/year; HOA $0; other closing costs and prepaids $10,000. These are editable examples, not local estimates. Utilities, upkeep, moving costs, and additional insurance are excluded.
02 / Monthly housing
Estimated payment + HOA
Principal + interest
Property taxes
Homeowners insurance
HOA
Monthly PMI$0.00
03 / Cash planning
Estimated remaining cash to close
Down payment
Funding fee paid upfront
Other costs + prepaids
− Applied credits
− Deposit already paid
Total modeled cash contribution*
*Before subtracting your deposit. Actual settlement adjustments may differ.
What changes at 0%, 5%, and 10% down?
Monthly housing on the same dollar scale. All other current inputs stay the same.
0% down
5% down
10% down
A lower payment can require more upfront cash. Compare both before deciding.
| Down | Down payment | VA fee | Loan balance | Monthly housing | Cash contribution* |
|---|
*Before deposit credit. Uses the chosen fee-payment method, other costs, and allowed credits. No affordability or approval judgment is made.
How these examples are calculated
Base loan = price − down payment. The funding fee is calculated on that base amount, then added only when financed. Principal and interest = L × r ÷ [1 − (1 + r)−n], where L is starting loan balance, r is annual interest rate ÷ 100 ÷ 12, and n is years × 12. At 0% interest, payment = L ÷ n.
Monthly housing = principal and interest + annual property tax ÷ 12 + annual insurance ÷ 12 + monthly HOA. The interest-rate input is a note rate, not an APR. The loan is fully amortizing, with no extra payments or rate changes. Taxes, insurance, and HOA can change.
Modeled cash contribution = down payment + fee paid upfront + other costs/prepaids − applied credits. Remaining cash = contribution − deposit already paid, floored at $0. This model caps credits at other costs plus any cash-paid funding fee; it does not validate concession rules, lender-credit terms, or eligibility of particular charges. Excess credits and deposits are flagged, not presented as cash back.
Comparison rows use the same inputs except down payment. Calculations retain full precision; displays round to dollars or cents. No entitlement shortfall, appraisal gap, prorations, refund, special loan product, or local cost data is modeled. An exemption sets the fee to zero. This example does not calculate DTI, VA residual income, or qualification.
Next: prepare for your lender conversation.03 / Prepare for preapproval →
03 / Preapproval
Be ready for the lender conversation.
Start with your benefit, then your finances. A lender can help you understand a possible loan amount and what still needs to be verified.
Your COE
A Certificate of Eligibility confirms your VA home loan benefit and shows entitlement. It does not approve you for a mortgage.
A conditional review
A lender reviews financial information and may issue a letter with an amount, conditions, and expiration date. Ask what was verified.
The completed file
The lender completes underwriting, reviews the property and appraisal, and clears outstanding conditions before closing.
What your lender will review
COE, entitlement & occupancy
Request your COE online, through a lender that can obtain it, or by mail. Service records vary: Veterans commonly need a DD214; active-duty members need a signed statement of service. Guard, Reserve, and surviving-spouse requirements differ.
Ask the lender to confirm available entitlement and funding-fee status. Full entitlement does not mean unlimited borrowing. A purchase loan is for a home you intend to occupy; discuss deployment or PCS circumstances early.
Credit score & payment history
VA sets no minimum credit score, but lenders may set their own. They also review how you have handled debts and payments. Ask about the lender’s standards and discuss major financial changes before closing.
Income, debts & residual income
Bring records of stable, qualifying income and recurring obligations. Explain military pay and allowances, employment changes, and any income you expect to end or change.
Debt-to-income compares monthly debt payments, including housing, with gross monthly income. VA residual income is the amount left for family living expenses after taxes, housing, debts, and required deductions. Guidelines vary by loan size, household size, and region.
Ask your lender to explain both figures. The calculator above does not calculate residual income or decide qualification.
Savings, closing funds & reserves
Prepare statements showing funds for closing and their source. Ask whether reserves are required for your circumstances. Keep room in your own budget for moving, maintenance, and emergencies, even when no down payment is required.
Gather your starting documents.
Use this checklist for your conversation. Your lender will specify the exact documents and time periods. Checkmarks reset when you reload; nothing is uploaded.
Before relying on a letter, ask: “What is still conditional, when does this expire, and what could change my payment or cash to close?” Preapproval is not a guaranteed loan offer.
Your next step
Take your questions to a lender.
Discuss a payment you are comfortable with. Compare lenders using official Loan Estimates when available, including the rate, points, fees, and cash to close.
Request your COE through VA ↗TheWing.ai provides independent education. This page is not a loan application, approval, or offer of credit and does not imply endorsement by VA or the U.S. government. Example rates and costs are assumptions; actual terms depend on your lender and circumstances.