What the VA benefit gives you
VA loans are guaranteed by the Department of Veterans Affairs, which is what allows terms no other program matches:
- 0% down payment for eligible borrowers with full entitlement.
- No monthly mortgage insurance — ever, regardless of down payment.
- No loan limit with full entitlement — the price of the home is set by qualification, not a cap.
- Competitive rates that consistently run at or below conventional pricing.
- Flexible underwriting for buyers whose credit history has bumps.
The funding fee — and the exemption too many veterans miss
The VA funding fee is a one-time charge of roughly 1.25% to 3.3% of the loan amount, depending on your down payment and whether you've used the benefit before. It can be paid at closing or financed. The critical detail: veterans with a service-connected disability are exempt from the funding fee entirely — as are qualifying surviving spouses and Purple Heart recipients. Too many veterans pay a fee they didn't owe. Bring your disability documentation to the first conversation and Brian will make sure the exemption is applied.
Entitlement, plainly explained
Your VA entitlement is the amount the VA guarantees to the lender. With full entitlement, there's no loan limit and no down payment requirement. If entitlement is partially tied up in a current VA loan, you may still be able to buy with a small down payment — the math depends on your entitlement history and the loan size. Brian will pull your Certificate of Eligibility details and show you exactly what's possible before you start shopping.
Using the benefit more than once
The benefit is reusable. Many Minnesota veterans have used it for a starter home, a move-up, and a refinance across a lifetime of service. And for existing VA loans, the IRRRL streamline refinance is one of the lowest-friction refinance products in the market.
Where Minnesota veterans are buying
The 0%-down math works especially well in Bloomington, Richfield, Savage, and Shakopee, where starter and mid-range inventory is deep and the VA's flexibility on debt-to-income opens doors for younger families. Pairing a VA loan with first-time buyer planning — budget, neighborhood, and payment scenarios — is where Brian starts with every veteran client.