VA Loans

A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs and made by approved lenders. It is a benefit earned through military service, with flexible credit guidelines and no monthly mortgage insurance.

Justin Lazzaro, NMLS #1229453 | Reasy Financial, LLC, NMLS #2446155 | Licensed in Arizona, Pennsylvania, Florida, and Texas

Who a VA loan fits

If you have eligible service, this is usually the first loan I look at, because the benefit is difficult for any other program to match.

Veterans and service members

Eligible veterans, active-duty service members, and National Guard and Reserve members with qualifying service.

Surviving spouses

Certain surviving spouses of service members and veterans are eligible as well. I can help you confirm through the Certificate of Eligibility.

Who it usually does not fit

VA financing is for a home you will live in. For a rental or vacation home, a conventional or DSCR loan is the better tool.

How qualifying works

1

We confirm your eligibility

I request your Certificate of Eligibility, which shows your entitlement. Many are issued electronically the same day.

2

Income and residual income

VA looks at your debt-to-income ratio and at residual income, the money left each month after major expenses, based on family size and region.

3

A VA appraisal is completed

A VA-assigned appraiser confirms value and checks the home against VA minimum property requirements.

I am a mortgage broker, not a government agency. The VA guarantees a portion of the loan, and approved private lenders provide the financing.

How it compares to other loans

The main differences between these loans are who is eligible and what ongoing costs they carry.

How VA loans compare to other loan types
Loan typeWho is eligibleMortgage insurance
VA loansEligible veterans, service members, and surviving spousesNone, though most borrowers pay a one-time funding fee
FHA loansMost borrowers buying a primary residenceUpfront and monthly premiums
Conventional loansBorrowers with established credit and documented incomeOnly with a smaller down payment
USDA loansBuyers in eligible rural and suburban areas, within income limitsAn upfront guarantee fee and an annual fee

Three things to know before you apply

1

The funding fee varies

Most borrowers pay a one-time VA funding fee that can be financed. Veterans receiving VA disability compensation are generally exempt.

2

Your benefit can be reused

Entitlement can be restored after you sell or pay off a VA loan, and in some cases you can have more than one VA loan at a time.

3

Occupancy is required

You need to move in within a reasonable time after closing. A spouse can satisfy occupancy for a deployed service member.

Guidelines change. I confirm current requirements with the lender before quoting anything.

Common questions about VA loans

Short answers to common questions. Program rules vary by lender, so treat these as general guidance, not a loan decision.

How do I get my Certificate of Eligibility?

I can request it for you through the VA system, often the same day. Some cases need a copy of your DD-214 or a statement of service.

Is there a loan limit?

Borrowers with full entitlement are not subject to a VA loan limit, although the lender still approves the loan amount based on your income and credit.

Can I use a VA loan more than once?

Yes. The benefit is reusable, and remaining entitlement can sometimes be used while you still have another VA loan.

Can I buy a multi-unit property?

Yes, up to four units, as long as you live in one of them as your primary residence.

Can I refinance with a VA loan?

Yes. The VA streamline refinance, called an IRRRL, is available for existing VA loans, and a VA cash-out refinance is available too.

Where do you offer these loans?

I am licensed in Arizona, Pennsylvania, Florida, and Texas, and I compare VA pricing across multiple wholesale lenders.

Ready to talk it through?

Pick a time that works for you. We'll go over your goals and next steps, no pressure, just a conversation. Prefer to call or text instead? Reach me directly at (412) 638-4982, or book a quick Zoom if that's easier.