A Benefit You've Earned. Use It With Confidence.
No down payment, no private mortgage insurance, and some of the most competitive rates available — exclusively for veterans, active duty service members, and surviving spouses.
0%
Min. Down Payment
None — Ever
Private Mortgage Insurance
Waivable for Disabled Vets
Funding Fee
Multiple Uses Allowed
Reusable Benefit
What is a VA loan?
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs, available to eligible veterans, active-duty service members, and surviving spouses. VA loans offer zero down payment, no monthly mortgage insurance, and some of the lowest rates on the market — making them the most powerful home loan benefit available to those who've served.
Best for: Veterans, active-duty military, National Guard/Reserve members, and eligible surviving spouses.
0%
Down Payment
None
Mortgage Insurance
No Cap*
Loan Limit
1.25–3.3%
Funding Fee
10%+ Disability
Fee Waiver
Overview
The Most Powerful Mortgage Benefit in America
The VA home loan is one of the most valuable financial benefits available to those who have served our country. Backed by the U.S. Department of Veterans Affairs, VA loans offer zero down payment, no private mortgage insurance, and competitive interest rates — advantages that no conventional program can fully match.
At Lumen Mortgage, we specialize in helping veterans, active-duty service members, and surviving spouses navigate the VA loan process from Certificate of Eligibility to closing. We understand the nuances of the program — including reusing your entitlement, funding fee waivers for disabled veterans, and using VA for multi-unit properties.
Who This Is For
Thank You for Your Service
We take VA lending seriously. Our loan officers are trained on the full range of VA benefits and will ensure you receive every advantage the program offers — including funding fee waivers, jumbo VA financing with no down payment, entitlement restoration, and IRRRL refinance options.
Key Features
What Makes This Program Work
Zero Down Payment
Purchase a home with no money down — up to the full VA loan limit. No jumbo down payment required in high-cost areas with full entitlement.
No PMI — Ever
VA loans never require private mortgage insurance regardless of your loan-to-value ratio. That's a savings of $100–$300/month compared to a conventional loan with PMI.
Competitive Rates
VA-backed loans consistently offer rates below conventional and FHA — often 0.25–0.5% lower, which compounds significantly over 30 years.
Jumbo VA — No Loan Limit
Since 2020, veterans with full entitlement have no VA-imposed loan limit — meaning you can purchase a $1M, $1.5M, or $2M+ home with zero down. No conventional jumbo underwriting, no PMI, and VA-competitive rates at any loan amount.
VA IRRRL Refinance
Already have a VA loan? Streamline your rate with an Interest Rate Reduction Refinance Loan (IRRRL) — minimal paperwork, no new appraisal required.
Assumable Loan
VA loans are assumable by qualified buyers (including non-veterans), making your home easier to sell and your low rate a tangible selling point.
Funding Fee Waiver
Veterans with a service-connected disability rating of 10% or higher are exempt from the VA funding fee — saving thousands at closing.
Have questions about this loan?
Talk to an Expert — Free Consultation
Get a personalized rate quote with no impact to your credit score.
Your Benefit Has No Ceiling
Since the Blue Water Navy Vietnam Veterans Act of 2020, veterans with full entitlement can purchase a home at any price — with zero down payment, no PMI, and VA-competitive rates. No conventional jumbo underwriting. No arbitrary down payment thresholds.
Full Entitlement
Zero down — no loan limit
If you've never used your VA benefit, or you've fully paid off and restored a prior VA loan, you have full entitlement. There is no VA-imposed loan limit. You can purchase a $1M, $1.5M, or $2M+ home with zero down payment, no private mortgage insurance, and rates that consistently beat conventional jumbo.
Partial Entitlement
Used VA before? Let's calculate your position
If you have an active VA loan or a prior VA loan that wasn't fully restored, you have remaining (partial) entitlement. You can still use VA financing, but for loan amounts above your remaining VA guarantee you may owe a down payment — typically 25% of the amount exceeding your remaining entitlement. We calculate this precisely from your COE.
Jumbo VA vs. Conventional Jumbo — Side by Side
For a $1,200,000 purchase with full entitlement
| Jumbo VA (Full Entitlement) | Conventional Jumbo | |
|---|---|---|
| Down Payment | 0% | 10–20% |
| Private Mortgage Insurance | None — ever | Required under 20% down |
| Rate vs. Conforming | Typically below | Typically above |
| Loan Limit (Full Entitlement) | No VA limit | Lender-set max |
| Reserve Requirements | Program-dependent | Typically 6–12 months PITI |
| Funding Fee | 1.25–3.3% (waivable) | No funding fee |
Ready to see your Jumbo VA options?
We'll pull your COE, calculate your entitlement, and show you exactly how much home you can buy with zero down.
Interactive Tool
VA Loan & Entitlement Calculator
Calculate your remaining entitlement, the maximum loan amount you can finance with zero down, any required down payment for your purchase price, and your VA funding fee — before you ever talk to a lender.
VA Loan & Entitlement CalculatorVA Calculator
Entitlement · Down payment · Funding fee · Monthly payment
Entitlement Status
Never used your VA benefit, or prior loan fully paid off and entitlement restored.
Purchase Details
< 5% down · 2.15% funding fee (1st use)
Loan Settings
High-Cost County
CA/OR high-cost area — conforming limit up to $1,209,750
Disability Exemption
Service-connected 10%+ rating — funding fee waived
Subsequent Use
Previously used VA loan — higher fee rate applies
Standard County · Max Entitlement
$208,188
25% of $832,750
$0
min. down · no loan limit
Purchase Price
$500,000
Loan Amount
$500,000
VA Guaranty
25% of loan
Funding Fee (2.15%)
$10,750
Total Loan (fee financed)
$510,750
Loan Term
Est. Monthly P&I
$2,820/mo
5.249% · 30-yr
$510,750 loan
2.15% fee fin.
Illustrative only. Actual entitlement, down payment, and fees are determined by your COE and lender underwriting. Contact Lumen Mortgage for an official analysis.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $7,203 | $26,638 | $503,547 |
| 2 | $7,590 | $26,250 | $495,956 |
| 3 | $7,999 | $25,842 | $487,958 |
| 4 | $8,429 | $25,412 | $479,529 |
| 5 | $8,882 | $24,959 | $470,647 |
| 6 | $9,360 | $24,481 | $461,288 |
| 7 | $9,863 | $23,978 | $451,425 |
| 8 | $10,393 | $23,448 | $441,032 |
| 9 | $10,952 | $22,889 | $430,080 |
| 10 | $11,541 | $22,300 | $418,539 |
| 11 | $12,161 | $21,679 | $406,377 |
| 12 | $12,815 | $21,025 | $393,562 |
| 13 | $13,505 | $20,336 | $380,057 |
| 14 | $14,231 | $19,610 | $365,826 |
| 15 | $14,996 | $18,845 | $350,831 |
| 16 | $15,802 | $18,039 | $335,028 |
| 17 | $16,652 | $17,189 | $318,376 |
| 18 | $17,547 | $16,293 | $300,829 |
| 19 | $18,491 | $15,350 | $282,338 |
| 20 | $19,485 | $14,356 | $262,853 |
| 21 | $20,533 | $13,308 | $242,320 |
| 22 | $21,637 | $12,204 | $220,683 |
| 23 | $22,800 | $11,040 | $197,882 |
| 24 | $24,026 | $9,814 | $173,856 |
| 25 | $25,318 | $8,522 | $148,538 |
| 26 | $26,680 | $7,161 | $121,858 |
| 27 | $28,114 | $5,726 | $93,743 |
| 28 | $29,626 | $4,215 | $64,117 |
| 29 | $31,219 | $2,622 | $32,898 |
| 30 | $32,898 | $943 | Paid off |
| Total | $510,750 | $504,473 | paid off |
Frequently Asked Questions
VA entitlement · funding fee · loan limits · restoration
The Process
How It Works
Obtain Your COE
We request your Certificate of Eligibility directly from the VA on your behalf — usually returned within minutes electronically.
Pre-Qualification
We review your income, credit, and finances to confirm your loan amount, estimated rate, and funding fee (or waiver).
Application & Appraisal
VA requires a VA-assigned appraiser to confirm value and property condition meets MPR. We order this immediately upon application.
Underwriting
Our underwriters ensure your file meets VA guidelines. We'll verify residual income — a unique VA metric based on your region and family size.
Close & Celebrate
Sign your loan documents. For many veterans, this is the first time they've bought a home with nothing down — it's a milestone worth celebrating.
Requirements
General Qualifications
Ready to See If You Qualify?
Every borrower's situation is unique. Give us 15 minutes and we'll review your financial picture, identify every program you qualify for, and walk you through your options — at no cost and with no obligation.
Licensed in Oregon & California · NMLS #1498678
FAQ
Common Questions
Side-by-Side Comparison
How Does VA Compare?
Compare key requirements, costs, and features at a glance — so you can choose the right loan for your situation.
VA vs. Conventional vs. FHA — Side by Side
Why VA is the most powerful home loan benefit in America
| VA | Conventional | FHA | |
|---|---|---|---|
| Down Payment | 0% | 3–20% | 3.5% |
| Mortgage Insurance | None | PMI (until 20% equity) | MIP (life of loan) |
| Interest Rates | Typically lowest | Market rates | Slightly above conventional |
| Credit Score | 580–620 (varies by lender) | 620+ | 580+ |
| Loan Limit | None (full entitlement) | $832,750 conforming | $498,257 FHA floor |
| Upfront Fee | Funding fee (1.25–3.3%, waivable) | None | 1.75% UFMIP |
| Residual Income Test | Yes — unique to VA | No | No |
| Eligibility | Veterans, active duty, Guard/Reserve | Anyone | Anyone |
From the Blog
Further Reading
VA LoansVA Jumbo Loans in Lake Oswego, Oregon: Why Veterans Buy More Home for Less — and Keep Their Savings
A $1,500,000 home in Lake Oswego requires a conventional buyer to bring $300,000 in down payment plus $105,000 in required reserves — before closing costs. A veteran with VA entitlement can close on the same home with as little as $22,000 out of pocket, at a lower rate. Here's the side-by-side comparison with real numbers.
Loan TypesVA Loans: The Complete Guide for Military Borrowers
VA loans offer some of the best terms available to any borrower — no down payment, no PMI, competitive rates. Here's everything you need to know about eligibility, entitlement, and the process.
What Our Clients Say
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Ready to Get Started?
Our loan officers will review your scenario, walk you through your options, and guide you from application to close — with full transparency at every step.