Earned. Not given.

Three paths, fastest first:

Through us. Your loan officer can pull your COE through VA's automated system in minutes for most veterans. No forms, no waiting.

Through eBenefits / VA.gov. Log in, request COE, download instantly if your record is in the system.

By mail (VA Form 26-1880). Slowest path — 4–6 weeks. Only needed if your service record isn't in the digital system.

Surviving spouses use a slightly different process (VA Form 26-1817). Reservists and National Guard need 6 years of service or 90 days of active duty during a qualifying period.

Residual income is what's left of your paycheck after paying your mortgage, debts, taxes, and basic living costs. VA is the only loan program that requires a minimum.

Why it matters: VA's 1944 architects believed a mortgage shouldn't leave a veteran broke. The minimum varies by region and family size — for example, $1,003/mo for a family of 4 in the Northeast, slightly less in lower-cost regions.

Practically: residual income lets VA approve loans with higher DTIs (sometimes 50%+) that would fail other programs. Veterans with lots of leftover income get more loan flexibility — even with student loans or higher debt loads.

Yes — through what VA calls second-tier entitlement. The most common scenario: you bought with VA at duty station #1, got transferred (PCS), and want to keep the first home as a rental while VA-financing your new primary.

How it works: VA gives every eligible borrower up to $144,000 in "basic entitlement" plus 25% of any amount above the conforming loan limit. If your first VA loan didn't use all of it, the remainder can fund a second VA loan.

You'll typically need residual income to cover both payments, plus 75% of the rental income on the first property to qualify. Talk to us — second-tier entitlement is one of VA's most under-used benefits.

It's a tradeoff, and the answer is usually no — but here's the math.

Putting 5% down drops the funding fee from 2.15% to 1.50% for first-use buyers. On a $400K loan, that's saving $2,600 — but it costs $20,000 out of pocket.

Putting 10% down drops the fee to 1.25% — saving $3,600 versus $40,000 out of pocket.

In almost every case, keeping cash for reserves and emergencies beats saving the funding fee. The fee is financed into the loan. You're paying it over 30 years at your mortgage rate, which is usually cheaper than other uses of that capital.

Exception: if you're cash-rich and want to minimize your loan amount, putting 10–20% down is fine. Just don't feel obligated.

IRRRL = Interest Rate Reduction Refinance Loan. VA's streamline refinance — you can lower your rate without re-qualifying for income or appraisal in most cases.

Requirements: Must already have a VA loan. New rate must be lower than current (some exceptions for ARM-to-fixed). Must demonstrate "net tangible benefit" (typically 0.5%+ rate drop or moving from ARM to fixed).

Funding fee: 0.50% (vs 2.15–3.30% on a purchase). On $400K, that's $2,000.

Use it when rates drop 0.5–1.0% below your current rate. Break-even is usually 6–18 months. The numbers usually work fast — that's the whole point of VA's streamline.

For full-entitlement borrowers: no limits. Since 2020 (Blue Water Navy Vietnam Veterans Act), if you've never used your VA loan, or fully restored it, you can borrow up to whatever the lender will approve — no formal cap.

For partial-entitlement borrowers (e.g., already have a VA loan): VA uses the conforming loan limit — $832,750 in most counties, up to $1,249,125 in high-cost areas — to calculate maximum guaranty without down payment.

Above your entitlement, you can still borrow — you'll just need to put down 25% of the difference between the loan amount and your entitlement-backed cap.

VA caps seller concessions at 4% of the home's value for seller-paid items the buyer would normally pay (origination fee, discount points, prepaid taxes, prepaid insurance, etc.).

Critically: VA's 4% cap does not count toward what most lenders consider "normal" concessions — title fees, recording fees, etc. Those can come from the seller separately under standard rules.

In a buyer's market or with a motivated seller, you can structure a deal where you bring $0 to closing. Negotiate hard. Concessions are real money.

For tax years 2025 and 2026, the VA funding fee is generally treated as deductible mortgage insurance — phased out by income (full deduction below ~$100K AGI, partial up to ~$110K, none above).

This is one of the rare benefits that survived recent tax law changes. Worth noting at tax time, especially if you're in the deductibility window.

Disability-exempt borrowers don't pay the fee, so this doesn't apply. Talk to a tax professional — we're not.