What Is a VA Loan?
A VA loan is a mortgage benefit offered to eligible US military veterans, active-duty service members, surviving spouses, and certain National Guard and Reserve members. The financing is guaranteed by the US Department of Veterans Affairs, allowing partner lenders to offer favorable terms including no down payment and no PMI.
VA Loan Eligibility Requirements
To qualify for a VA loan through Quicken Loans partner lenders, you generally must meet one of these service requirements:
- 90 consecutive days of active service during wartime
- 181 days of active service during peacetime
- 6 years of service in the National Guard or Reserves
- You are the surviving spouse of a service member who died in the line of duty
VA Loan Benefits
$0 Down Payment
No down payment required for eligible borrowers on VA loans — a benefit unavailable with most conventional mortgages.
No PMI
VA loans do not require private mortgage insurance, saving eligible veterans $100–$300+ per month compared to low-down-payment conventional loans.
Competitive Rates
VA loan rates are typically 0.25%–0.50% lower than comparable conventional loans, thanks to the government guarantee.
Reusable Benefit
Your VA loan entitlement can be used multiple times throughout your lifetime, as long as the previous VA loan is paid off or assumed by another veteran.
VA Loan Requirements Through Quicken Loans (2026)
| Requirement | Standard |
|---|---|
| Credit Score | 580 minimum (620+ recommended for best rates) |
| Down Payment | $0 required |
| Debt-to-Income Ratio | Up to 60% in some cases |
| VA Funding Fee | 1.25%–3.3% (first use vs subsequent use) |
| Certificate of Eligibility | Required (can be obtained online via VA.gov) |
| Property Type | Primary residence only |
Current VA Loan Rates (July 2026)
VA loans typically offer rates 0.25%–0.50% below conventional loans. Estimated VA rates through Quicken Loans partners:
- 30-Year Fixed VA: 6.45% – 6.90% (APR: 6.55% – 7.00%)
- 15-Year Fixed VA: 5.95% – 6.40% (APR: 6.10% – 6.55%)
Complete VA Loan Eligibility Requirements
VA loans through Quicken Loans partner lenders are backed by the Department of Veterans Affairs and reserved for eligible service members, veterans, and their families. Determining eligibility is the first step before applying — Quicken Loans marketplace can verify your Certificate of Eligibility (COE) status during pre-application.
Active-duty service members: Currently serving members qualify after 90 continuous days of active service during wartime, or 181 days during peacetime. Wartime service is defined by the VA based on specific conflict periods.
Veterans: Must have served the minimum active duty period based on when they served (typically 90-181 days for wartime, 181 days for peacetime, 24 months for post-Sept 1980 enlisted, and 24 months for post-Oct 1981 officers).
National Guard and Reserves: Qualify after six years of service in either component, or after 90 days of active service under Title 10 orders. Members activated for wartime service qualify with fewer days.
Surviving spouses: Spouses of service members who died in the line of duty or from service-connected disability qualify for VA loans. Spouses of POWs or MIAs also qualify.
Discharge requirements: Discharge must be "under conditions other than dishonorable." Honorable, general (under honorable conditions), and other-than-honorable discharges may all qualify depending on circumstances. Quicken Loans partner lenders can help evaluate borderline cases.
VA Loan Benefits Unique to Veterans
VA loans offer several advantages unavailable in any other US mortgage program. Understanding these benefits helps veterans maximize the value of their military service through homeownership.
Zero down payment: VA is the only major program allowing 100% financing on primary residences. Quicken Loans partner VA lenders finance the full purchase price up to VA loan limits. No down payment savings required to buy a home.
No mortgage insurance: Unlike FHA (MIP) or conventional (PMI), VA loans have no monthly mortgage insurance requirement. This alone can save veterans $150-400 per month compared to equivalent FHA loans. Over a 30-year loan, that's $54,000-$144,000 in savings.
Competitive interest rates: VA loan rates typically run 0.25-0.5% below conventional rates because the VA guarantee reduces lender risk. Quicken Loans partner VA specialists offer rates competitive with the best VA-focused lenders.
Assumability: VA loans are assumable — meaning a future buyer can take over your mortgage at your current interest rate. In high-rate environments, this can be a significant selling advantage when you eventually sell your home.
Refinancing options: Two VA-specific refinance programs are available: VA IRRRL (Interest Rate Reduction Refinance Loan) for rate/term refinancing with minimal documentation, and VA Cash-Out Refinance allowing borrowers to tap up to 90% of home value.
No prepayment penalties: VA loans never charge prepayment penalties, allowing you to pay extra principal or refinance without penalty. Quicken Loans partner VA lenders are prohibited from imposing prepayment restrictions.
Understanding the VA Funding Fee
While VA loans don't require mortgage insurance, they do charge a one-time VA funding fee that helps sustain the VA program. This fee replaces the PMI/MIP requirement of other financing options.
First-time use funding fees: For regular military first-time VA loan use with $0 down: 2.15% of loan amount. With 5% down: 1.5%. With 10% down: 1.25%. National Guard/Reserve first-time use rates are slightly higher: 2.4%, 1.75%, 1.5% respectively.
Subsequent use funding fees: Second and later uses of VA loan benefit incur higher fees: 3.3% for $0 down, 1.5% for 5% down, 1.25% for 10% down. Structured this way to prioritize first-time users.
Funding fee exemptions: Veterans receiving VA disability compensation, Purple Heart recipients, and surviving spouses are exempt from funding fees. Verify exemption status through your VA eBenefits account before applying.
Financing the funding fee: Most VA borrowers finance the funding fee into the financing rather than paying at closing. On a $400,000 loan with 2.15% funding fee, that's $8,600 added to the financing balance — a common trade-off for avoiding out-of-pocket costs at closing.
VA Loan Property Requirements
VA loans have specific property requirements enforced through the VA appraisal process. Not all properties qualify, and understanding requirements upfront prevents surprises during Quicken Loans partner lender underwriting.
Primary residence only: VA loans must be used for properties you'll occupy as your primary residence. You must move in within 60 days of closing (with some flexibility for military moves). Second homes and pure investment properties don't qualify.
Approved property types: Single-family homes, condominiums in VA-approved projects, townhomes, 2-4 unit multi-family (with one unit as primary), manufactured homes on approved lots, and new construction with builder warranties all qualify.
Minimum Property Requirements (MPRs): The property must pass VA appraisal for safety, structural integrity, and sanitary conditions. Common MPR issues include peeling paint (pre-1978 homes), missing handrails, exposed wiring, roof damage, and pest infestations. These must be repaired before closing.
Excluded property types: Working farms (unless the residence is the primary use), unimproved land, mobile homes not on foundations, and non-residential properties don't qualify for VA financing through Quicken Loans partner lenders.
VA Loan Limits and Entitlement in 2026
VA loan limits changed significantly in 2020 with the passage of the Blue Water Navy Vietnam Veterans Act. Veterans with full VA entitlement can now borrow above previous county loan limits with no down payment.
Full entitlement borrowers: Veterans with no previous VA loan use or fully-restored entitlement can borrow any amount their income and credit support with $0 down. Quicken Loans partner VA lenders will finance loans well into seven figures for qualified veterans.
Partial entitlement borrowers: Veterans with an existing VA loan or previous VA loan not yet paid off have partial entitlement remaining. In these cases, county loan limits apply and down payment may be required for loans exceeding the limit.
2026 conforming loan limits: The 2026 conforming loan limit is $806,500 for most areas, with high-cost areas up to $1,209,750. These limits apply to partial entitlement calculations.
Restoring entitlement: After paying off a VA loan or selling the property, you can request entitlement restoration to use your full VA benefit for a new home purchase. Quicken Loans partner lenders can guide you through the restoration process.
VA Loan Frequently Asked Questions
How do I get my Certificate of Eligibility (COE) for a Quicken Loans VA loan?
You can request your COE online through the VA eBenefits portal, by mail using VA Form 26-1880, or through Quicken Loans partner lenders who can request it directly from the VA on your behalf during the application process.
Can I use a VA loan to buy a duplex or fourplex?
Yes. VA loans allow 2-4 unit properties as long as you occupy one unit as your primary residence. Rental income from other units can help you qualify for a larger loan amount.
Do I have to be first-time buyer for a VA loan?
No. VA loans have no first-time buyer restriction. You can use VA multiple times throughout your life for different homes, as long as your entitlement is available or has been restored.
Can I use VA loan benefits after divorce?
Yes, but the situation depends on whether the previous VA loan was paid off. Divorce alone doesn't restore entitlement — the underlying VA loan must be paid off or refinanced by the non-veteran ex-spouse.
Is a VA IRRRL through Quicken Loans a good option?
Yes for rate/term refinancing. VA IRRRL requires minimal documentation, no appraisal in most cases, and typically closes in 15-30 days. Ideal for lowering your rate when market rates drop below your current VA loan rate.
Bottom Line: Should Veterans Use Quicken Loans for VA Financing?
Quicken Loans partner VA lenders offer competitive rates and access to major VA financing options including IRRRL and Cash-Out Refinance. However, VA-specialized lenders like Veterans United, Navy Federal Credit Union, and USAA sometimes offer more veteran-focused service and slightly better rates due to their VA-only focus.
The recommended approach is to get quotes from Quicken Loans marketplace (which surfaces 3-5 VA lender options) and separately get a quote from at least one VA specialist. Comparing all offers typically identifies the best available VA rate and terms for your situation. Total closing costs, funding fee treatment, and lender-specific credits often differ more than the interest rate itself.