VA Loan
What is a VA loan?
A government-guaranteed mortgage for eligible service members, veterans, and surviving spouses — offering 0% down on primary residences.
A VA loan is a residential mortgage guaranteed by the U.S. Department of Veterans Affairs and originated by private lenders. The VA itself doesn’t lend — instead, it guarantees a portion of the loan against borrower default, which lets participating lenders offer terms that would be impossible on a non-guaranteed loan.
Eligible borrowers are active-duty service members who’ve completed minimum service requirements, honorably discharged veterans, members of the National Guard and Reserve who meet service criteria, and certain surviving spouses. Eligibility is established via a Certificate of Eligibility (COE) from the VA.
Key VA characteristics:
- 0% down payment available
- No private mortgage insurance (PMI)
- Funding fee charged at closing (varies by service status, down payment, and first-use vs subsequent-use); some veterans are exempt
- Primary residence only — must occupy within 60 days of closing
- 1–4 unit residential property eligible if owner-occupies one unit
- Competitive rates relative to conventional
These materials are not from the VA and were not approved by any government agency.
Not offered by TQL — here’s where TQL fits for veterans
Total Quality Lending does not originate VA loans. Veterans seeking a VA-guaranteed primary residence loan should work with a VA-approved lender.
Where TQL becomes relevant for a veteran investor:
- You used your VA benefit on your primary residence and now want pure investment property — TQL DSCR qualifies on the property’s rental income
- You’re scaling a rental portfolio beyond what VA or conventional investor financing can support — Multi-Unit DSCR for 5–8 unit buildings
- You’ve transitioned to self-employed income and need alt-doc qualification — TQL Prime Time with bank statement, 1099, P&L, or asset utilization paths
- You want to hold properties in an LLC (which VA doesn’t allow)