VA loans
A VA loan is one of the strongest programs in mortgage lending.
The VA home loan program is a benefit earned through military service. It offers eligible veterans, active-duty service members, National Guard, Reserve members, and qualifying surviving spouses a path to homeownership with zero down payment and no monthly mortgage insurance.
What is a VA loan?
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs. Private lenders make the loan, and the VA guarantees a portion — which is why VA rates are competitive and lenders can offer 0% down.
VA loans are used for primary residences only. They can be used to purchase, build, refinance, or improve a home.
The zero-down advantage and no PMI
For eligible borrowers with full VA entitlement, there is no maximum loan amount and no down payment required. That combination is unmatched in conventional and FHA lending.
VA loans also do not require monthly mortgage insurance, even with 0% down. Instead, borrowers pay a one-time VA Funding Fee (typically 1.25% – 3.3% of the loan amount, based on service history and down payment) that can be rolled into the loan. Veterans with a service-connected disability rating and certain surviving spouses are exempt from the funding fee entirely.
Certificate of Eligibility (COE)
To use a VA loan, borrowers must obtain a Certificate of Eligibility from the VA. Belong Lending pulls the COE for eligible borrowers as part of the pre-approval process.
VA IRRRL — the streamline refinance
The VA Interest Rate Reduction Refinance Loan (IRRRL) is one of the simplest refinances in the industry. For existing VA borrowers, it usually requires no appraisal, no income documentation, and no home value verification — just a lower rate and a modest funding fee.
Key benefits
- 0% down for eligible borrowers with full entitlement
- No monthly mortgage insurance, ever
- Competitive interest rates
- No maximum loan amount for full-entitlement borrowers
- Streamline refinance (IRRRL) available for existing VA loans
- Funding fee waived for veterans with service-connected disability
Who this loan fits best
- Eligible veterans and active-duty service members
- National Guard and Reserve members meeting service requirements
- Qualifying surviving spouses of veterans
- Existing VA borrowers refinancing into a lower rate (IRRRL)
Estimate your monthly payment
VA payment calculator
Estimate only. Actual rate, taxes, insurance, and mortgage insurance depend on your specific loan and property. Belong Lending confirms your exact payment at pre-approval.
Serving Detroit and surrounding Michigan communities
Belong Lending helps borrowers with VA loans across Detroit, Troy, Southfield, Ann Arbor, Flint, Livonia, Warren, Sterling Heights, Farmington Hills, Novi, Rochester Hills, Dearborn, and beyond — plus additional coverage throughout Wayne County, Oakland County, Macomb County, Washtenaw County, Livingston County, Genesee County. We also lend on eligible properties in Ohio, Florida, Georgia, and Texas.
Frequently asked questions
Who is eligible for a VA loan?
Eligibility generally includes active-duty service members with 90+ continuous days, veterans with 24 continuous months (or full period called), National Guard and Reserve members with 6+ years of service, and qualifying surviving spouses. The VA issues a Certificate of Eligibility confirming your specific entitlement.
Do I really need $0 down for a VA loan?
For borrowers with full VA entitlement, yes — a VA loan can be closed with $0 down payment on a primary residence. Some borrowers still choose to put money down to lower the funding fee or the monthly payment.
What is the VA Funding Fee?
The funding fee is a one-time cost paid to the VA to keep the loan program self-sustaining. It typically ranges from 1.25% to 3.3% of the loan amount, depending on service history, down payment, and whether it is a first-time or subsequent use. It can be financed into the loan. Veterans with a service-connected disability rating and certain surviving spouses are exempt.
Can I use a VA loan more than once?
Yes. Many veterans use VA loans multiple times across their career. Full entitlement can be restored after the previous VA loan is paid off and the home is sold, and partial entitlement may allow a second concurrent VA loan.
What is a VA IRRRL?
The VA Interest Rate Reduction Refinance Loan is a streamline refinance available to existing VA borrowers. It usually skips the appraisal, income documentation, and home value verification, and is designed to lower the rate or payment with minimal paperwork.