VA loans in Arizona: eligibility, benefits, and costs
7 min read · VA
The short answer
VA home loans are guaranteed by the U.S. Department of Veterans Affairs and are available to eligible veterans, active-duty service members, certain National Guard and Reserve members, and some surviving spouses. Eligible borrowers with full entitlement can buy with no down payment and no monthly mortgage insurance, though a one-time funding fee applies unless the borrower is exempt.
Who is eligible
Eligibility depends on length and type of service. A Certificate of Eligibility (COE) confirms it, and a lender can usually request the COE electronically for you.
The main benefits
VA financing is one of the strongest programs available:
- No down payment for borrowers with full entitlement
- No monthly mortgage insurance
- Limits on certain closing costs the veteran can be charged
- Funding fee exemption for veterans receiving VA disability compensation and certain others
The funding fee
The funding fee is a one-time charge that varies by down payment and whether you have used the benefit before. It can be paid in cash or financed into the loan. Use our VA funding fee calculator to see the effect on your loan.
Property requirements
The home must be your primary residence and pass a VA appraisal, which reviews value and minimum property requirements. Condominiums need to be in a VA-approved project.
Talk it through with a licensed advisor
Every file is different. We will run your numbers through multiple wholesale lenders and explain the trade-offs before you commit to anything.
This article is general education, not financial advice, and is not an offer or commitment to lend. Program terms are subject to credit approval and may change without notice.
Ready to apply what you learned?
Start your application online at your own pace, or talk to a licensed advisor first. Either way, your next step stays clear.