VA Loans
You served. The VA home loan benefit is one of the most powerful mortgage tools in the country — use it.
Eligible veterans, active-duty service members, National Guard, Reservists, and surviving spouses can buy a primary residence with 0% down, no monthly mortgage insurance, and competitive fixed rates. We serve veterans across New Jersey and eastern Pennsylvania — including the communities around Joint Base McGuire-Dix-Lakehurst, NAVSTA Philadelphia, and NSA Mechanicsburg.
Why the VA loan benefit matters
The VA loan is not a charity program or a fallback option. It is a benefit Congress created specifically because the math favors you in ways no other mortgage does. Here is what makes it different.
Compare to conventional: a $500,000 purchase with 5% down on a conventional loan carries about $200 to $350 per month in PMI. VA eliminates that entirely. Over a 5-year hold, that is $12,000 to $21,000 in savings — money that stays in your pocket.
The four VA loan programs
“VA loan” is an umbrella term covering four different transactions. The right one depends on whether you are buying, refinancing, or tapping equity.
VA purchase loan
The flagship benefit. Zero down, no PMI, competitive rates, and flexible credit guidelines. Available for primary residences only — single-family homes, condos on VA-approved lists, and 2-to-4-unit properties where you occupy one unit. The property must pass a VA appraisal, which includes minimum property condition standards that are stricter than conventional in some areas (roof, heating, water supply, and safety items are scrutinized).
VA IRRRL (Interest Rate Reduction Refinance Loan)
Commonly called a “streamline refi.” If you already have a VA loan and rates have dropped, the IRRRL lets you refinance with minimal documentation. No new appraisal in most cases. No income verification. No full credit re-qualification. Many IRRRLs close in 15 to 21 days. The VA requires a “net tangible benefit” — the new loan must meaningfully improve your position, usually via lower rate or lower payment.
VA cash-out refinance
Unique among mainstream programs: VA cash-out allows up to 100% loan-to-value for eligible veterans. Conventional and FHA cash-out both cap at 80%. You can also use a VA cash-out to refinance a non-VA loan (FHA, conventional) into a VA loan and take cash out at the same time. If your existing first mortgage is at or above current rates, this can be the right move. If your first mortgage is in the low 3s or 4s, consider a home equity loan or HELOC instead to preserve the low rate.
VA Native American Direct Loan (NADL)
A niche program: eligible Native American veterans, or veterans married to a Native American, may qualify for direct VA financing on federal trust land. This does not apply to most New Jersey and Pennsylvania veterans but is worth knowing exists.
Who qualifies
VA eligibility is broader than most people realize. If you served, you very likely qualify. We will pull your Certificate of Eligibility (COE) on day one so you know exactly where you stand.
Active-duty service members
Generally eligible after 90 continuous days during wartime, or 181 days during peacetime. Many service members at Joint Base McGuire-Dix-Lakehurst and NAVSTA Philadelphia already have full entitlement but have never used it.
Veterans
Honorably discharged veterans meeting minimum service requirements qualify. Your DD-214 is the starting document. If you cannot find it, we help you request a replacement — we do this often.
National Guard and Reserve
Six years of service in the Selected Reserve generally qualifies, or 90 days of active federal service. Activated time counts toward active-duty eligibility on a shorter timeline.
Surviving spouses
Unremarried surviving spouses of service members who died in the line of duty, or as a result of a service-connected disability, are eligible for VA benefits — including purchase, IRRRL, and cash-out. Surviving spouses are typically exempt from the VA funding fee.
Entitlement restoration
If you used your VA benefit on a prior home and have since sold or paid off that loan, your entitlement can be restored. Some veterans have eligibility for a second or even third VA transaction and do not realize it.
The VA funding fee — and who is exempt
VA loans carry a one-time funding fee in lieu of monthly mortgage insurance. It is financeable into the loan, and many veterans are exempt entirely.
Exempt from the funding fee: veterans receiving service-connected disability compensation (any rating), Purple Heart recipients serving on active duty, and eligible surviving spouses. If you are 100% disabled in NJ or PA, the funding fee exemption combines with state property tax benefits to materially change your housing math.
VA loans in New Jersey — what to know
Full property tax exemption for 100% disabled veterans
New Jersey offers a full property tax exemption on the primary residence for 100% permanently and totally disabled veterans. Combined with VA funding fee exemption, this is one of the strongest disabled-veteran benefits in the country. If you qualify and are not already receiving it, contact your municipal tax assessor.
VA appraisal and NJ housing stock
NJ has older housing stock in many neighborhoods. VA appraisers apply Minimum Property Requirements (MPRs) strictly — roof condition, peeling paint on pre-1978 homes, heating systems, and water supply are all scrutinized. We will help you understand what to expect, and know which sellers and listings are VA-friendly. Competitive offers on older homes often benefit from a seller agreement to remediate specific items.
Attorney review and closing
NJ purchases require attorney review during the first three business days after both parties sign the contract. All VA closings require an attorney as well. Budget $1,200 to $2,000 for attorney fees. We coordinate with attorneys across South and North Jersey who handle veteran transactions efficiently.
NJHMFA and VA
New Jersey Housing & Mortgage Finance Agency down payment assistance can be stacked with a VA loan in some cases, though most veterans do not need it because VA already offers 0% down. If you want to preserve cash reserves rather than draw from them, we will explore the options together.
VA loans in Pennsylvania — what is different
Disabled Veterans Real Estate Tax Exemption
Pennsylvania offers a Real Estate Tax Exemption for 100% service-connected disabled veterans meeting income thresholds. If you qualify, it materially reduces your monthly housing cost. Applications go through the county Veterans Affairs office.
Transfer tax exemption for veterans
Most PA purchases carry state and local transfer tax totaling about 2% — split between buyer and seller. Refinances generally have no transfer tax as long as title is not changing. PA does not provide a general veteran exemption on purchase transfer tax, but some municipalities offer targeted relief; we check county by county.
No attorney required for refinance closing
PA refinance closings (including VA IRRRL and VA cash-out) are handled by the title company without a mandatory attorney. Saves $1,000 to $1,500 versus NJ — a real benefit on streamline refinance math.
PHFA and VA
Pennsylvania Housing Finance Agency offers down payment and closing cost assistance for qualifying buyers. These programs can layer with a VA loan in limited cases. We will tell you whether stacking makes sense for your situation.
Common VA loan scenarios
Full entitlement, zero down, and BAH often covers a meaningful portion of the payment. We help active-duty buyers throughout Burlington, Ocean, and Monmouth counties navigate VA-friendly listings and close on a timeline that matches orders and PCS moves.
Yes — VA IRRRL is built for this. Minimal documentation, often no appraisal, and a 0.5% funding fee make the break-even timeline very short. We will confirm the net tangible benefit and run the numbers.
Yes. A VA cash-out refinance can pay off any existing first mortgage — FHA, conventional, or USDA — and convert to VA with no PMI. Many veterans who used FHA before establishing VA eligibility make this switch and eliminate MIP for life.
A lot. VA funding fee is waived entirely, saving 2.15% to 3.3% of the loan amount. In NJ, full property tax exemption on your primary residence. In PA, partial tax relief via the Disabled Veterans Real Estate Tax Exemption. Combined, monthly housing cost drops significantly compared to any other borrower profile.
Likely yes. Six years of Selected Reserve service generally qualifies. We pull your COE to confirm. VA entitlement does not expire — you can use it decades after your service.
VA allows multi-unit purchases up to 4 units as long as you occupy one as your primary residence. Rental income from the other units can often be counted toward qualifying income. This is one of the most powerful wealth-building uses of the VA benefit.
Frequently asked questions
Yes. Eligible veterans with full entitlement can finance 100% of the purchase price without a down payment and without monthly mortgage insurance. A down payment is optional and can reduce the funding fee percentage.
The VA does not set a minimum score. Most lenders require 580 to 620. Compensating factors — stable income, low debt, and assets — can help borrowers with lower scores qualify.
Yes. VA entitlement can be restored after you sell a VA-financed home or pay the loan in full. Many veterans use the benefit multiple times across their careers.
Veterans with full entitlement have no VA-set maximum. Individual lenders set their own jumbo VA limits, but loans of $1 million or more are regularly available for qualified borrowers.
Not directly. VA loans are for primary residences only. The closest path is a 2-to-4-unit purchase where you occupy one unit and rent the others. See our investor loans page for dedicated rental financing.
Standard VA purchase closings take 30 to 45 days. VA IRRRL streamline refinances can close in 15 to 21 days. NJ timelines run slightly longer due to attorney review.
No. VA loans never carry prepayment penalties. You can pay additional principal or pay off the loan entirely at any time without cost.
We pull your COE electronically through VA systems as part of the application process — you do not need to request it yourself. Have your DD-214 ready if you served before 1990. For more recent service, your records are typically accessible via the VA's online portal.
Ready to use the benefit you earned?
We will pull your Certificate of Eligibility, confirm your entitlement, and walk you through the path that fits your goal — purchase, IRRRL, or cash-out. No obligation.