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VA loans: a homeownership benefit earned through service

Atlantic Bay Mortgage Group® offers VA loans to eligible service members, veterans, and surviving spouses in Virginia, North Carolina, Georgia, Florida, and beyond. Backed by the U.S. Department of Veterans Affairs, VA loans require no down payment or monthly mortgage insurance for those who qualify.

Atlantic Bay has helped thousands of military families navigate the VA loan process. So if you're navigating a PCS move, buying your first home after military service, or using your VA benefit again, our experienced Mortgage Bankers have the knowledge and experience to guide you every step of the way.

See If You QualifyTalk to a Mortgage Banker

Is a VA loan right for you?

A VA loan is often the right fit for buyers in these situations. Find the one that sounds like you.

  • If you meet the VA's service requirements, a VA loan tends to offer the most cost-effective path to homeownership available to you, with benefits that can be used more than once.

    Check Your VA Eligibility

  • Most VA loans don't require a down payment at all, which can move up your homebuying timeline without sacrificing loan terms.

    See If You Qualify

  • VA loans don't require PMI or a MIP. Instead, most borrowers pay a one-time VA funding fee, and many are exempt from that fee altogether.

    Learn About the VA Funding Fee

  • Both can work well for eligible buyers, but they differ in down payment, mortgage insurance, and eligibility requirements. We'll help you compare side by side.

    Compare VA vs. Conventional

  • VA loan entitlement can be reused or restored, even if you've financed a home with a VA loan in the past. And we'll help you understand what's available to you now.

    Talk to a Mortgage Banker
family hanging out on porch

What is a VA loan?

A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs and available to eligible active-duty service members, veterans, National Guard and Reserve members, and certain surviving spouses. The VA doesn't lend money directly; Its guaranty reduces the lender's risk, which allows lenders like Atlantic Bay to offer terms like no down payment and no monthly mortgage insurance to qualifying borrowers.

VA loans are intended for primary residences. Eligibility is confirmed through a Certificate of Eligibility (COE), verifying your qualifying service history.

Find Out If You Qualify

VA loan requirements

Wondering what it takes to qualify for a VA loan? Lenders weigh a combination of several factors.

  • Certificate of Eligibility (COE): required to confirm your qualifying military service
  • Credit score: the VA doesn't set an official minimum, though a score in the 580 to 620 range is often needed
  • Down payment: none required in most cases, though a down payment can lower your VA funding fee
  • Debt-to-income ratio (DTI): often up to 41%, though flexible when residual income is strong
  • VA funding fee: a one-time payment that helps sustain the VA loan program. As of July 2026, most first-time users pay around 2.15% with no down payment, though the rate depends on your down payment, prior use, and Congress's current fee schedule. Veterans receiving VA disability compensation and certain surviving spouses are typically exempt. Check VA.gov for current rates.
  • Income and employment: stable, verifiable income and typically two years of employment history
  • Occupancy: the home must serve as your primary residence
  • Property requirements: the home must meet the VA's Minimum Property Requirements (MPRs)

No single factor makes or breaks an application. Lenders look at your full financial picture, including residual income, alongside your credit and service history.

Check Your VA Eligibility

VA vs. Conventional: which is right for you?

Both can be strong options, but they serve different borrowers and come with different costs.

FeatureVA LoanConventional Loan
Best For
Eligible service members, veterans, and surviving spouses
Buyers with a credit score of 620+ and stable income
Minimum Credit Score
No official VA minimum, though most lenders look for 580 to 620
Typically 620
Minimum Down Payment
0% in most cases
3%
Mortgage Insurance
None. A one-time VA funding fee applies instead, unless you're exempt
Required with less than 20% down, but can be removed after reaching 20% equity
Long-Term Cost
No monthly mortgage insurance, which can mean significant long-term savings
Can become more affordable over time once mortgage insurance is removed
Key Advantage
No down payment and no monthly mortgage insurance for eligible borrowers
Available to buyers without military service, with flexible property use

In short: VA loans tend to offer the most cost-effective path to homeownership for eligible military borrowers, thanks to no down payment and no monthly mortgage insurance. Conventional loans remain the more widely available option for buyers without military service. Comparing your real numbers side by side is the best way to know which loan type best matches your situation.

Talk to a Mortgage Banker

Ready to talk through your VA loan options? Our local Mortgage Bankers can walk you through what fits your situation. No pressure and no commitment.

Find a Mortgage BankerSee If You Qualify

Frequently asked questions about VA loans

If your questions aren’t answered here, please reach out to an Atlantic Bay Mortgage Banker.

  • A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs. It's available to eligible service members, veterans, and certain surviving spouses, often with no down payment and no monthly mortgage insurance.

  • You'll need a Certificate of Eligibility confirming your qualifying service, along with stable, verifiable income and a debt-to-income ratio that fits within lender guidelines. The VA doesn't set an official minimum credit score, though most lenders look for a score in the 580 to 620 range.

  • In most cases, no. VA loans are one of the few loan types that allow eligible borrowers to finance 100% of the purchase price. A down payment isn't required, though making one can lower your VA funding fee.

  • The VA funding fee is a one-time payment that helps sustain the VA loan program. For most first-time users, it's 2.15% of the loan amount with no down payment (as of July 2026), though the rate changes based on your down payment and whether you've used a VA loan before. Veterans receiving VA disability compensation and certain surviving spouses are typically exempt.

    Asking can you have two VA loans at once? Here’s the answer.

  • VA loans are available only to eligible military borrowers and typically require no down payment and no monthly mortgage insurance. Conventional loans are available to any qualifying buyer but generally require a down payment and, in most cases, mortgage insurance until you build 20% equity.

  • Yes. VA loan entitlement can often be reused or restored, even after you've paid off or sold a home financed with a VA loan. A Mortgage Banker can help you understand your remaining entitlement.

  • A COE confirms that your military service meets the VA's requirements for loan eligibility. Most borrowers can obtain one online, and your Mortgage Banker can help you request it as part of the application process.

    Understand your VA entitlement

  • Most VA purchases close in 30 to 45 days. Staying organized and responsive throughout underwriting keeps things moving smoothly.

  • VA loans are intended for primary residences only. They can't be used to finance second homes or investment properties.

military father lifting child on his back

Take the Next Step Toward Your VA Loan

Atlantic Bay is here to help you take the next step toward your VA loan. See if you qualify by completing our quick online form, or connect with a local Mortgage Banker who can review your scenario, answer your questions, and help you find the loan that’s right for you.

Check Your VA EligibilityTalk to a Mortgage Banker

Disclosure: Information is for educational purposes only and should not be relied upon by you. Discussions regarding any financial information provided are not intended as individual recommendations and do not reflect the views or advice of Atlantic Bay Mortgage Group, L.L.C. The views expressed are subject to change at any time in response to changing circumstances in the market. Other loan program restrictions and eligibility requirements may apply. For refinances, the total finance charges may be higher over the life of the loan. Atlantic Bay Mortgage Group, L.L.C. disclaims any obligation to publicly update or revise any views expressed or information given. Loan programs may change at any time with or without notice. Information deemed reliable but not guaranteed. All loans subject to income verification, credit approval and property appraisal. Not a commitment to lend. Atlantic Bay Mortgage Group, L.L.C. NMLS #72043 (nmlsconsumeraccess.org) is an Equal Housing Lender. Located at 600 Lynnhaven Parkway Suite 100 Virginia Beach, VA 23452.

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Loan programs may change at any time with or without notice. Information deemed reliable but not guaranteed. All loans subject to income verification, credit approval and property appraisal. Not a commitment to lend. Atlantic Bay Mortgage Group, L.L.C. NMLS #72043 (nmlsconsumeraccess.org) is an Equal Housing Lender.