No Down Payment. No Mortgage Insurance.
VA home loans are an earned benefit available to active duty service members, veterans, and surviving spouses. No down payment required. No private mortgage insurance. Flexible qualifying guidelines. It exists because the country made a promise to the people who served it. At Benchmark, helping military families make the most of this benefit is a commitment we take seriously.
Things to Know
- 0%
- None
- 580
- 15–30 yr
- 1–4
Ready to talk?
A loan officer who answers the phone, knows this program, and will tell you plainly whether it fits.
Disclaimer: Ark-La-TexFinancial Services, LLC d/b/a Benchmark Mortgage – NMLS ID #2143 (www.nmlsconsumeraccess.org) 5160 Tennyson Pkwy STE 1000, Plano, TX 75024. 972-398-7676. This advertisement is for general information purposes only, no guarantee is expressed or implied. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Not all applicants will qualify. Some products may not be available in all states and restrictions apply. (https://benchmark.us)
Understanding the VA guarantee
VA loans are guaranteed by the U.S. Department of Veterans Affairs. That guarantee is why lenders can offer 100% financing with no private mortgage insurance — the VA is standing behind a portion of the loan, so the risk profile changes. The benefit was created as part of the GI Bill in 1944 and remains one of the most valuable entitlements earned through service.
Entitlement, explained
Your entitlement is the amount the VA will guarantee on your behalf. Most eligible borrowers have full entitlement, which means no loan limit and no down payment at any price point a lender will approve. If you’ve used VA financing before and still hold that loan, you may have partial entitlement — we’ll pull your Certificate of Eligibility and walk you through exactly what’s available.
The VA funding fee
Most VA loans include a one-time fee paid to the VA, typically financed into the loan rather than paid at closing. The percentage depends on your down payment and whether it’s your first VA loan. Borrowers receiving VA disability compensation and certain surviving spouses may be exempt.
The VA appraisal and Minimum Property Requirements
VA appraisals check both value and condition. Sellers sometimes worry about this; in practice, most homes pass, and we know how to handle the ones that need a repair before closing.
IRRRL: the streamline refinance
Already in a VA loan? The Interest Rate Reduction Refinance Loan lowers your rate with minimal documentation and, in most cases, no appraisal.
PCS and VA loans
Orders change everything. We’re licensed in 49 states and work PCS timelines constantly — buying at the next duty station, keeping and renting the current home, or both. Ask about our PCS Toolkit.
What makes it work for you?
- Purchase, refinance, or streamline refinance (IRRRL) — up to 100% financing for eligible borrowers
- No private mortgage insurance (PMI)
- Flexible underwriting — higher debt-to-income ratios considered
- VA Funding Fee is financed into the loan — no out-of-pocket cost at closing in most cases
- Borrowers with service-related disabilities may be exempt from the funding fee entirely
- Loan terms from 15 to 30 years, fixed or adjustable
- Available for primary residences, including 1–4 unit properties
- Minimum credit score 580; no-score scenarios reviewed case by case
A good fit if you…
- Are active duty, a veteran, or an eligible surviving spouse
- Want to buy with little or no cash to close
- Have a service-connected disability (funding fee exemption)
- Are relocating on PCS orders and need a lender that moves with you
Probably not the right fit if you...
- Are buying a second home or investment property (VA is primary-residence only)
- Don’t have VA entitlement remaining and can’t restore it
- Need financing above your available entitlement without a down payment
Additional options to think about
Compare with other programs
FAQ
Short, honest answers. Your loan officer can go deeper on any of these.
Do VA loans really require nothing down?
Yes, for borrowers with full entitlement — 0% down and no monthly mortgage insurance. The funding fee applies unless waived for service-connected disability.
What happens to my mortgage when I PCS?
You can sell, or keep the home and rent it out — VA loans require intent to occupy at purchase, not forever. Many military families build wealth holding a home at each duty station. Ask about our PCS Toolkit for planning your next move.
Can I use BAH to qualify for a mortgage?
Yes — BAH counts as effective income for VA loan qualification, and because it’s non-taxable, lenders can gross it up when calculating ratios. It’s one of the most powerful and most overlooked homebuying tools service members have.
Can I use a VA loan more than once?
Yes. Entitlement can be restored once a prior VA loan is paid off, and in many cases you can carry two VA loans at once using remaining entitlement — common for military families who kept a home at a previous duty station.
Is there a VA loan limit?
Not for borrowers with full entitlement — there is no VA-imposed cap. Lenders set their own limits based on your income, credit, and reserves. Borrowers with partial entitlement may need a down payment above a certain amount.
Can I buy a multi-unit property with a VA loan?
Yes — up to four units, as long as you occupy one of them as your primary residence. Rental income from the other units may help you qualify.
HOW IT WORKS
Four steps from here to keys
Talk to a VA specialist
A 15-minute conversation about where you are and where you want to go.
Get pre-approved
You provide supporting documents like income statements, W-2s, and bank statements. Most of it can be uploaded in minutes.
Shop with confidence
We handle the appraisal and the paperwork sellers worry about.
Sign & Close
Sign, fund, and get the keys. We stay on the file until the end.
Talk to a VA specialist
A 15-minute conversation. No obligation. Real answers from a loan officer who answers the phone.