Built for the Vets We've Already Closed With
$0 down, no PMI, and a loan officer who has closed VA files in AZ for 20+ years. Authored by Ryan Singer, NMLS #1520306.
- $0 down payment for eligible veterans, active duty, and surviving spouses
- No PMI required — ever, at any LTV
- Funding fee waived for veterans with 10%+ service-connected disability
- Lower interest rates than conventional for most credit profiles
- Manual underwriting available — DTI up to 70% with strong residual income
- VA IRRRL (streamline refi) — often no appraisal, no income docs, no FICO
- Cash-out refinance available up to 100% LTV in select scenarios
- Reusable entitlement — multiple VA loans can be active at the same time
- Surviving spouses may qualify for full benefits
- Phoenix-metro VA-experienced loan officer, AZ-native
Estimate your veterans affairs loan payment
Do you qualify for a va loan?
Here’s what underwriters actually look at — and what each requirement really means once you’re past the textbook version.
Eligibility & COE
Before anything else: are you eligible? Veterans, active-duty service members, eligible Reserve/National Guard, and surviving spouses qualify. Fastest verification — I log into the VA portal with your SSN and DOB and pull your Certificate of Eligibility in about 5 minutes. National Guard members need a Points Statement; I'll walk you through where to pull it.
Credit Score
VA has no statutory minimum FICO — lenders set their own. Our floor is 500 on purchase and rate/term, 580+ on cash-out. IRRRLs (streamline refis) often require no FICO at all. Sweet spot for pricing is 680–740+, where VA usually beats conventional on monthly cost.
DTI & Residual Income
I plan around 55% DTI on VA. The unique advantage: VA uses residual income (the cash left over after all monthly obligations) as a parallel qualification path. With strong credit and strong residual income, manual underwriting can push DTI to 70% — that's a deal that would never clear on conventional or FHA.
Down Payment & Funding Fee
$0 down is the headline — and it's real. The funding fee is the trade-off (2.15% first use / 3.30% subsequent use at $0 down, 0.50% on IRRRL) and is financeable into the loan. Most purchase borrowers take a slightly higher rate to get fees waived or use seller concessions to cover the funding fee. **Fully waived for veterans with 10%+ service-connected disability.**
VA Appraisal & MPRs
VA appraisals check Minimum Property Requirements (MPRs) in addition to value: working AC (critical in Phoenix heat), no peeling paint on pre-1978 homes, no wood-destroying organisms, no exposed wiring. We ask MPR-flagging questions upfront and address issues before the appraisal so nothing surprises us. Phoenix metro turn times are fast; remote AZ can run 3+ weeks.
Veterans Affairs Loan
VA loans are the best mortgage product available to most eligible veterans, active-duty service members, and surviving spouses. Zero down payment, no monthly mortgage insurance, lower rates than conventional in most credit bands, and a manual-underwriting path that uses residual income to qualify borrowers who'd never make it through a Fannie or Freddie box.
Most of our VA pipeline at Elevated isn't first-time use. It's veterans who've used their entitlement before and are coming back to lower a payment, consolidate debt, or pull cash out. VA IRRRLs (Interest Rate Reduction Refinance Loans — the VA streamline) make up a big chunk of our volume because past clients keep coming back when rates move, and new clients come in for the same reason.
The single most common mistake I see Phoenix-area veterans make? Thinking they can only have one VA loan at a time. You can hold two or three VA loans simultaneously with the right entitlement math — that's how veterans build rental portfolios without giving up their benefit. Most national lenders won't even bring this up.
My contrarian take: VA is the best product for most veterans, but it's not always the cheapest. If your funding fee is high enough — subsequent use at $0 down runs 3.30% — and you're at a strong credit profile, we should at least run a side-by-side against a conventional loan. Sometimes the numbers favor conventional. Most of the time they don't. You deserve to see both.
I'm an AZ native. Most of our VA volume is Phoenix and Tucson. I'm a direct lender and the owner of Elevated, and I'll be your main point of contact start to finish — that means when you call with questions, you call me, not a call-center queue. What are your thoughts, questions, or concerns?
VA Loan vs Conventional vs FHA — what’s actually different
If you’re weighing options. Numbers reflect 2026 program parameters.
| VA Loan | Conventional | FHA | |
|---|---|---|---|
| Down payment | $0 (eligible veterans) | 3% – 20% | 3.5% (580+ FICO) |
| Minimum credit | No VA floor; our 500 / 580+ cash-out | 620 | 580 (3.5% down) / 500 (10% down) |
| Mortgage insurance | None — ever, at any LTV | PMI drops at 80% LTV; auto at 78% | MIP for life of the loan (most cases) |
| Upfront fee | Funding fee 2.15% – 3.30% (financeable; waived for 10%+ SC disability) | None | Upfront MIP 1.75% (financeable) |
| Loan limit (full entitlement) | No cap (with full entitlement) | $806,500 (Maricopa, FHFA) | $524,225 (Maricopa, HUD) |
| Eligibility | Veteran / Active Duty / Reserve / Surviving Spouse | Anyone qualifying | Anyone qualifying |
| Best for | Most eligible veterans — especially $0 down and lower-credit files | Veterans with high subsequent-use funding fee + 740+ credit | Rare for veterans — only when FHA pricing beats VA after fees |
If you're eligible, VA is almost always the right answer. Almost — not always. We'll run VA vs conventional side-by-side on your file in about 15 minutes so you see the real numbers.
What to expect — the 5 steps
Most Elevated VA files close in 8–14 days from first call. I pull your COE on the phone, verify income same-day, and route the file directly to the underwriter — no call-center runaround.
- 1
COE & eligibilitySame day
First call: I confirm you're eligible by pulling your Certificate of Eligibility through the VA portal (need your SSN and DOB). For National Guard members we need a Points Statement. This step is usually done while we're on the phone.
- 2
Pre-approvalSame day
I pull credit, verify income, and issue your pre-approval letter. VA pre-approval moves fast — same-day on most files. Strong, credible letter ready to back an offer.
- 3
Application + processing5–10 days
Once you're in contract, the full application goes in. VA files run cleanly through processing — there's typically no major source of delay. I keep direct communication open so questions get answered without the call-center runaround.
- 4
VA appraisal & underwriting7–14 days
VA appraiser from the VA-assigned panel inspects value + MPR (Minimum Property Requirements). In Phoenix metro the turn time is fast. In remote AZ areas it can run 3+ weeks — we plan accordingly. I pre-empt MPR conditions by asking about the property up front.
- 5
Closing1 day
Sign at title, funding fee disclosed and (typically) financed into the loan, keys hand off. You'll see the funding fee on your closing statement — that's expected. For 10%+ service-connected disability borrowers, the funding fee line is $0.
How many VA loans can I have at the same time?
Sometimes two or three. This is the single most common misconception I run into. VA entitlement isn't a one-and-done benefit — it's a dollar amount of guaranty the VA gives you. If you have remaining entitlement after your first loan, you can hold a second (or third) VA loan simultaneously. We run the entitlement math on every multi-use borrower to confirm what's available before we go shopping.
Who is eligible for a VA loan in 2026?
Veterans, active-duty service members, eligible National Guard and Reserve members, and surviving spouses. Service-time minimums vary by era and component. The fastest way to confirm: I pull your Certificate of Eligibility (COE) through the VA portal with your SSN and date of birth — usually takes about 5 minutes. National Guard members need a Points Statement; we'll walk you through how to pull it.
Do I really pay $0 down on a VA loan?
Yes — $0 down is real for eligible borrowers and it's not a marketing line. You can also choose to put money down if it makes financial sense for you, but the program doesn't require it. Most of our purchase borrowers choose $0 down and use cash for closing costs or reserves instead.
What's the VA funding fee and can it be waived?
The funding fee is a one-time charge that goes to the VA — it's how the program funds itself instead of relying on monthly mortgage insurance. First-time use with $0 down is 2.15% of the loan; subsequent use with $0 down is 3.30%. Putting 5%+ down lowers it; IRRRL is just 0.50%. **The fee is fully waived for veterans with a 10%+ service-connected disability rating.** I ask qualifying questions on every file to make sure we catch this — most borrowers don't bring it up themselves.
How is VA different from FHA or conventional in real dollars?
VA wins on monthly cost for most eligible borrowers because there's no monthly mortgage insurance. FHA has monthly MIP for the life of the loan. Conventional has PMI until you hit 80% LTV. The VA funding fee is a one-time cost (financeable into the loan), so on month one you might pay more, but over five years you almost always come out ahead. The exception: if your funding fee runs 3.30% and your credit is 740+, conventional with 5% down sometimes wins. We run both.
What's an IRRRL and when should I use it?
IRRRL stands for Interest Rate Reduction Refinance Loan — the VA streamline. It refinances an existing VA loan to a lower rate with minimal documentation: typically no appraisal, no income verification, and on most files no FICO requirement. Funding fee is just 0.50%. Use it any time rates drop enough to recoup the cost in 12-18 months. We process IRRRLs frequently because past clients keep coming back when the math works.
What's the 2026 VA loan limit and does it really matter?
For veterans with full entitlement, **there is no VA loan limit** — that changed with the Blue Water Navy Vietnam Veterans Act in 2020. You can borrow whatever your income and the appraisal support. For veterans with partial entitlement (because you have another VA loan active or recently in default), the conforming loan limit applies — $806,500 in Maricopa County for 2026 (FHFA).
Do VA loans require PMI?
Never. No PMI on a VA loan at any LTV — that's one of the program's biggest cost advantages over both FHA (MIP for life) and conventional (PMI until 80% LTV). The funding fee replaces PMI as the program's risk-pooling mechanism, and it's a one-time charge instead of a monthly add-on.
How does the VA appraisal differ from other appraisals?
VA appraisers come from a VA-assigned panel and check Minimum Property Requirements (MPRs) in addition to value — peeling paint, working AC (critical in Phoenix), termites/wood-destroying organisms, exposed wiring. We ask questions about the property upfront and flag likely MPR issues before we order so nothing surprises us at the report. In Phoenix metro, appraisals come back fast. In remote AZ areas, you can wait 3+ weeks — plan accordingly.
Can my spouse and I combine entitlement on one VA loan?
If you're both eligible veterans, yes — a joint VA loan with combined entitlement is allowed. If one of you is a non-veteran civilian spouse, we use only the veteran's entitlement and the non-veteran's income/credit helps qualify. Surviving spouses of veterans who died in service or from a service-connected disability may qualify for full benefits in their own right.
VA loans in the Phoenix metro
Most of my VA pipeline is in Phoenix and Tucson — IRRRLs, multi-use entitlement purchases, and cash-out refinances driven by Phoenix-metro appreciation over the past several years. I'm an AZ native, I speak the lingo, and I'll be your main point of contact start to finish. What are your thoughts, questions, or concerns?