You Earned the Benefit. Verity Will Help You Explore What Comes Next.
Using a VA home loan to buy or build a new home can come with questions about eligibility, lenders, appraisals, timelines, and which homes may qualify.
You do not need to understand the entire process before contacting us.
Start with Verity. We will learn what you need, help you explore available homes and building opportunities, and connect you with a qualified VA lender who can explain your financing options.
Your VA Benefit May Open More Than One Path to Homeownership
VA-backed home loans are provided by private lenders and partially guaranteed by the Department of Veterans Affairs. They may be available to eligible Veterans, active-duty service members, and certain surviving spouses who meet VA and lender requirements.
A Down Payment May Not Be Required
Many eligible borrowers can use a VA-backed purchase loan without making a down payment. However, a lender may require one in certain circumstances, and a buyer may need to cover the difference when the purchase price exceeds the property’s appraised value.
No Monthly Private Mortgage Insurance
VA-backed loans generally do not require monthly private mortgage insurance. This can make the payment structure different from some conventional or FHA financing options.
VA Financing Is Not Only for First-Time Buyers
The VA home loan benefit is not limited to first-time homebuyers. Eligible borrowers may be able to use the benefit more than once, depending on their entitlement and circumstances.
A Funding Fee May Apply
Many borrowers pay a one-time VA funding fee, although certain eligible borrowers may be exempt. The amount can depend on the type of loan, prior use of the benefit, and down payment. Your lender should explain the current fee and any exemption that may apply to you.
You Will Need a Certificate of Eligibility
A Certificate of Eligibility, commonly called a COE, confirms to the lender that you meet the VA’s service-related eligibility requirements. A lender may be able to request it for you, or you may request it directly from the VA.
What Homebuyers Say About Working With Verity
Read about the experiences of buyers who trusted Verity to help them find, build and move into their homes.
Explore the Homeownership Path That Fits You
VA-backed financing may be used to purchase or build a qualifying primary residence, subject to VA standards, lender approval, appraisal requirements, and the structure of the financing.
Purchase an Available Verity Home
An available or nearly completed home may provide a clearer anticipated timeline and allow you to tour the property before moving forward.
Verity will help you compare available homes by location, price, layout, features, construction status, and potential move-in timing. Your lender will confirm whether the home and financing meet applicable VA requirements.
Choose a Home Under Construction
A home already under construction may provide a balance between a shorter timeline and limited opportunities to make selections, depending on its stage.
Verity will explain what has already been completed, what may still be selected, and which documents or construction details may need to be coordinated with your lender.
Build a Home With Verity
VA-backed financing can potentially support new construction, but the loan structure, lender participation, inspections, appraisal, and documentation requirements can differ from a standard purchase loan.
Verity will help you explore communities, lots, floor plans, and building options while coordinating with your qualified VA lender to understand what financing path may work.
Visit the Verity Model Home
Walking through the model home can help you compare layouts, finishes, room sizes, storage, and available features before deciding which path to pursue.
A Verity representative can answer your homebuilding questions and help you identify options to discuss with your lender.
Common VA Home Loan Questions
Do I Need a Down Payment With a VA Loan?
A down payment is often not required, but it is not guaranteed in every situation.
A lender may require one based on its underwriting standards, and a buyer may need to contribute funds when the purchase price exceeds the home’s appraised value.
Do I Need My Certificate of Eligibility Before Contacting Verity?
No.
You may contact Verity before requesting your COE. We can begin discussing your home needs and connect you with a qualified lender who may be able to help request the certificate.
The COE confirms service-related eligibility, but it does not guarantee loan approval. A lender must also review applicable income, credit, occupancy, and underwriting requirements.
Can I Use VA Financing to Build a Home?
VA home loan programs may be used to build a qualifying primary residence. Construction financing is more specialized, and the available structure will depend on the participating lender, buyer qualifications, property, plans, appraisal, and VA requirements.
Verity can help you explore building options while coordinating with an appropriate lender.
Does a VA Appraisal Replace a Home Inspection?
No.
A VA appraisal estimates the property’s value and reviews it against applicable requirements. It is not the same as a full home inspection and does not guarantee the condition or value of the property.
Can I Use a VA Loan for a Rental or Vacation Property?
VA-backed purchase financing is generally intended for a home the eligible borrower will occupy as a primary residence. It is not designed to purchase a vacation home or a property used only as an investment rental.
Does Verity Determine Whether I Qualify?
No.
Eligibility for the VA benefit is determined through the VA, while loan approval and terms are determined by a participating lender.
Verity’s role is to help you understand the homebuying and building options, connect you with appropriate resources, and guide the housing side of the process.
Let Us Help You Use the Benefit You Earned
Tell us where you are in the process and what you want from your next home. A Verity team member will help you identify the most useful next step and connect you with a qualified VA lender when appropriate.