You can buy a home with no money down.
You can refinance your home up to 100% of the value of your home.
You never have to pay PMI (Private Mortgage Insurance).
Sellers can pay your closing costs.
They are usually easier to get because the Government insures the loan so that there is much less risk to the lender.
If you already have a VA Loan you might be eligible for a VA Streamline Refinance.
Disabled Veterans may qualify for a waiver of the Funding Fee if they receive any disability payments from the VA or if they are considered to be at least 10% disabled.

Who is eligible for a VA Loan?

As a rule of thumb, almost all active duty or honorably discharged service members are eligible for a VA loan.

You may be eligible for a VA loan if any one of these statements describes you:

I served 181 days during peacetime. (Active Duty)
I served 90 days during wartime. (Active Duty)
I served 6 years in the Reserves or National Guard.
I am the spouse of service member who was killed in the line of duty.
I currently receive disability payments from the VA.

What is the VA Funding Fee and is it required?

Yes, it is required. It is a fee paid directly to the Department of Veteran's Affairs so that they can guarantee your loan and provide you with the opportunity to receive a loan with little to no money out of pocket.

How much is the VA Funding Fee?

It depends on several factors including: Whether you are Active Duty, Retired, Guard or Reserve and whether you this is a first time use, subsequent use, or a cash-out refinance as well as how much of a down payment you are putting down. The fee can range from as little as 1.25% up to 3.3% of the loan. Generally, the more money you put down the lower the VA funding fee. Please contact us and we will help you to determine how what the exact cost of the VA Funding Fee would be for your particular situation.

Do I have to pay the VA Funding Fee out of pocket?

No, you can include the VA Funding Fee in your loan and pay the funding fee over the course of your loan.

Do I still have to pay other normal closing costs like Appraisal, Title and Escrows?

Yes, however with a VA loan if you are purchasing a new home the seller can pay for all or part of your closing costs.

What is a VA Streamline Refinance?

A VA Streamline Refinance is a refinance option that is available if you already have a VA mortgage and you want to lower your interest rate with little or no out-of-pocket closing costs. You don't have provide bank statements, W2s, job verification or paychecks.

Ohio VA loan guidance from Western Ohio Mortgage

VA loans can be a strong fit for eligible veterans, active-duty service members, National Guard and Reserve members, and surviving spouses buying in Sidney, Dayton, Troy, Lima, Wapakoneta, and other western Ohio communities. The benefit can help qualified borrowers buy with no down payment when the purchase price is supported by the appraised value, but the file still has to meet lender requirements for income, credit, assets, occupancy, and property condition.

Western Ohio Mortgage helps borrowers review the Certificate of Eligibility, compare VA payment options with FHA or conventional loans, and understand how taxes, homeowners insurance, seller credits, and closing costs affect cash to close. The goal is not just to get a pre-approval letter. It is to know whether the payment and property fit the way VA underwriting will review the file.

What Ohio VA buyers should prepare

Certificate of Eligibility or enough service history information to request it.
Recent pay stubs, W-2s, bank statements, and documentation for any large deposits.
A realistic payment range that includes Ohio property taxes and homeowners insurance.
A plan for the VA appraisal and any property condition items that may need to be addressed.
Clear communication with the seller and agent about VA appraisal, closing-cost, and occupancy requirements.

VA purchase, refinance, and entitlement questions

Borrowers often ask whether they can use the VA benefit more than once, whether a seller can pay closing costs, or whether a VA offer is competitive. The answer depends on entitlement, loan amount, property type, contract terms, and the borrower profile. If you already have a VA loan, the team can also compare a VA streamline refinance, cash-out refinance, or conventional option before you make a decision.

For related planning, review our VA construction loan guide, our mortgage FAQs, and the mortgage calculators. When you are ready, Western Ohio Mortgage can walk through your VA eligibility and local payment numbers before you start touring homes.

VA Loans