Eligibility
Active-duty service members, Veterans, National Guard members, Reservists, and eligible spouses of service members may qualify for the VA Home Loan Benefit. To determine your entitlement amount, simply log in to your VA account and review your available benefits.

Down Payment
VA loans are among the rare programs offering 100% financing, eliminating the need for a down payment. This incredible benefit allows eligible Veterans, active-duty service members, and surviving spouses to purchase a home without the burden of a large upfront cost, making the dream of homeownership more attainable.

Loan Limit

Although VA loans don’t have official loan limits, some lenders may set their own restrictions. At PSL, we break the mold by offering VA loans up to $5 million, based on your available entitlement. This added flexibility allows eligible borrowers to explore higher-value homes without the typical financial barriers.

Mortgage Insurance

One of the standout benefits of VA loans is the absence of mortgage insurance—even with no down payment. This saves homebuyers significant upfront costs and thousands of dollars over the life of the loan. Without monthly insurance premiums, buyers also gain increased purchasing power, making it easier to afford their dream home.

Guidelines

VA loans offer greater flexibility compared to many conventional loan programs, thanks to more relaxed credit requirements, higher debt-to-income (DTI) limits, and no down payment. This makes it easier for qualified borrowers to secure financing, even if they have lower credit scores or limited savings.

Fees
VA home loans are designed to minimize costs for Veterans, offering competitive fees and limiting closing costs. While there is a one-time VA funding fee, many borrowers can include it in their loan or even have it waived if they qualify for exemptions, such as having a service-related disability. Additionally, VA loans cap the fees lenders can charge, and sellers may be able to cover a portion of the closing costs, making homeownership even more affordable for Veterans.

Benefit Expiry

The VA home loan benefit is a lifetime opportunity for eligible Veterans, active-duty service members, and surviving spouses. There’s no expiration, so you can use it whenever you’re ready—whether for your first home, a new home, or even refinancing. You can take advantage of it multiple times throughout your life, as long as you meet the eligibility criteria, offering you the flexibility to pursue homeownership on your terms.