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VA Loans

Bringing our Veterans Home through VA Loans for over 20 years

VA loans stand out among the rest for many reasons, but one reason remains constant—to help veterans and their families finance their dream home.

Over the last 70 years, the VA loan program has helped over 20 million Veterans realize their
dreams of homeownership. At Envoy, we train and certify our Loan Originators and Realtor partners in working with VA loans so that we can assist more and more Veterans all across the nation achieve the home of their dreams.

Contact an Envoy Loan Originator  

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DID YOU KNOW THAT WITH A VA LOAN:

No Down Payment is required

Being one of the main reasons to choose the VA Loan, qualified buyers can purchase their home without putting any money down. You heard us right – no down payment at all. Other loan products, such as FHA and conventional, requires around a 3.5 percent or 5 percent down payment.

No Private Mortgage Insurance is required

Avoiding mortgage insurance fees also becomes a reality with the VA loan. Private Mortgage Insurance (PMI) is an insurance that protects the lender in case the borrower defaults on the loan. No PMI allows the borrower to save hundreds monthly.

Qualifying for a mortgage loan becomes easier

Because the government supports VA loans, they tend to have more relaxed requirements for qualification. This makes it easier for Veterans and their families to obtain a loan.

ELIGIBILITY REQUIREMENTS

Active or retired military Veterans are generally eligible for VA financing if one or more of the following conditions are met:

  • The Veteran has served 90 consecutive days of active service during wartime.
  • The Veteran has served 181 days of active service during peacetime.
  • The Veteran has more than 6 years of service in the National Guard or Reserves.
  • The borrower is the spouse of a service member who has died in the line of duty or as a result of a service-related disability.

OBTAINING YOUR CERTIFICATE OF ELIGIBILITY

The Certificate of Eligibility (COE) is the one of the documents lenders must rely upon in order to determine the maximum loan amount available to the Veteran. In most cases your lender can obtain the Veteran’s Certificate of Eligibility (COE).

If you would like to obtain your own certificate of eligibility, please click on the link below.

benefits.va.gov

Below is a comparison to how VA Loan compares to a traditional home mortgage regarding down payments and PMI savings in our comparison charts.

Estimated Monthly PMI Savings (Compared to a 30 year conventional loan with 5% down)

Loan Amount Estimated Monthly Savings
$100,000 $74/mo
$200,000 $148/mo
Loan Amount Estimated Monthly Savings
$300,000 $222/mo
$400,000 $297/mo
Envoy Military

Serving those who served with amazing financing.

VA IRRL

Interest Rate Reduction Refinance Loan

A streamlined refinance option to lower your monthly payment with less hassle.

  • No appraisal or income verification required (in most cases)
  • Fast and simplified closing process
  • No out-of-pocket costs – can roll closing costs int the loan

VA 100% Purchase Loan

Buy a home with no down payment and flexible credit guidelines.

  • 100% financing – no down payment required
  • Competitive interest rates
  • Flexible credit and income requirements

VA Cash-Out Refinance

Equity Leverage

Tap into your home’s equity for remodeling, debt consolidation, or major expenses.

  • Refinance up to 100% of your home’s value (in many cases)
  • Use funds for home renovations, education, or paying off high-interest debt
  • Available even if your current loan is not a VA loan

VA Jumbo Loans

Buy above the conforming limit with full VA benefits intact.

  • No down payment up to your county’s VA loan limit
  • Higher loan amounts for high-cost areas or luxury homes
  • No PMI, even on large loan balances

VA Multi-Family Purchase

2-4 Units + Investment

Live in one unit and rent the others with 100% financing.

  • Buy up to a 4-unit property with no down payment (must occupy one unit)
  • Build wealth through rental income
  • Use future rental income to help qualify

VA Renovation Loan

Buy or refinance a home and roll in the cost of repairs or upgrades.

  • Finance purchase price plus renovation costs in one loan
  • Great for fixer-uppers or homes that don’t meet standard VA condition guidelines
  • Keep VA benefits like no PMI and low interest rates

VA LOAN LIMITS

For most of the United States, the maximum amount a Veteran can borrow without making a down payment is $510,400.

There are some areas identified as “high balance counties” that allow for 100% financing over $765,600.

This is the maximum amount the Veteran can generally borrow without making a down payment.

VA does allow for loan amounts over the county loan limits as long as the loan meets the guaranty requirements which would require a down payment from the Veteran. However, the down payment required in many cases is much lower than other financing options. Contact us to learn more.

Contact an Envoy Loan Originator

REFINANCING

In addition to financing to purchase a home, Envoy Mortgage offers refinance options that are unique to Veterans.

Qualified homeowners have the ability to take advantage of lower rates and decrease their monthly mortgage payment. Veterans have two refinance options available: an Interest Rate Reduction Refinance Loan (IRRRL) and a cash-out refinance.

An IRRRL allows the Veteran to refinance and reduce their interest rate/payment with very limited documentation. Additionally, the Veteran is generally not required to have any equity in the property. This compares very favorability to other loan programs.

For in an-depth look for which refinance option to choose, click here to reach out to an Envoy originator that has been specially trained in dealing with VA loans.

Contact an Envoy Loan Originator