Andrade Real Estate Services

The VA Loan Program is a government-backed mortgage option available to eligible U.S. veterans, active-duty service members, and certain surviving spouses. It is designed to help service members and their families achieve homeownership with favorable terms, including 0% down payment, no monthly mortgage insurance, and flexible credit requirements. VA loans are guaranteed by the U.S. Department of Veterans Affairs, allowing lenders to approve financing with lower risk. Borrowers must occupy the home as their primary residence, and eligibility is determined by a Certificate of Eligibility (COE) issued by VA.

This program is ideal for buyers who:

Are veterans, active-duty service members, or eligible surviving spouses.
Want to purchase a primary residence with no down payment.
Have a credit score of 580+ (higher scores may improve pricing).
Need flexible guidelines for debt-to-income and residual income.

Property Type	Credit Score	Min Down	Notes
SFR	580+	0%	Certificate of Eligibility required.
2-4 units	580+	0%	Certificate of Eligibility required.
Condo	580+	0%	Certificate of Eligibility required. Must be VA-approved condo.
Manufactures Home	580+	0%	Allowed with VA manufactured housing guidelines.

Occupancy Requirement
Primary Residence Only Veteran must certify intent to occupy the home within 60 days of closing.
Military stationed > 100 miles away Deployed service members are considered to meet occupancy if a spouse or dependent will occupy.

Residency Eligibility
Eligible U.S. Veterans, active-duty service members, and surviving spouses with Certificate of Eligibility.
Ineligible Individuals without VA entitlement, Foreign nationals.

Income Consistency Requirements
Employment History Two years of employment history required with the same employer or with different employers in the same line of work, Education or training may be used to fill gaps in history, If on temporary disability, income used will be the lower of the disability pay or the regular employment income.
Notes Frequent job changes are allowed if they are within the same line of work and the income is stable or increasing, provided this is supported by documentation, Gaps over 6 months require explanation + current 6 months continuous employment, Education and training must be documented with transcripts, diploma, certificate, professional license, official school/training program documentation, or military records (DD-214). An employer’s letter is required and must confirm the return-to-work date. If the return-to-work date is before the first mortgage payment, use regular income; if the return-to-work date is after the first mortgage payment, use the lower of disability income or regular income.

Income Type	Requirement	Documentation
Wage Earner	2 years employment history; gaps >6 months require explanation + 6 months current employment.	30 days paystubs + 2 years W-2s; VOE if required.
Self-Employed	2 years of self-employment required (1 year acceptable with strong file + prior related work/education). Must show stable or increasing income.	2 years tax returns; YTD P&L; business bank statements if requested.
Part Time	2-year history required; must be likely to continue.	W-2s, paystubs, VOE verifying hours and history.
Seasonal	2-year history required; must be likely to continue.	W-2s, paystubs, VOE or employer letter confirming rehire pattern.
Military Allowances (BAH, BAS, COLA, etc.)	Must be documented; generally considered stable if received currently and expected to continue.	LES (Leave & Earnings Statement), orders, or verification from commanding officer.
Social Security, Disability, and Retirement Income	Must be expected to continue ≥ 3 years.	Award/benefit letter (SSA, pension, disability) + proof of receipt (bank statements, 1099s, or deposits).
Alimony / Child Support	Must be court-ordered or written agreement; ≥ 3 years continuance.	Divorce decree, separation agreement, or order + 6 months proof of receipt.

Gift Funds
Eligible Donors Allowed for down payment and/or closing costs from any source, as long as the donor is not an interested party.
Ineligible Donors Not allowed as sources of down payment or closing cost funds: Real estate agent, Loan originator or loan officer, Builder or contractor, Developer, Seller, gift of equity is not permitted on VA loans.

Temporary Interest Rate Buydowns
Types Allowed 3-2-1, 2–1, and 1–0 buydowns are allowed.
Scope 30-year fixed principal residence purchases only.
Restrictions & Qualification Not allowed on refinances. Minimum FICO: 600. Borrower must qualify at the full note rate (not the buydown rate).

Loan Amounts
Minimum Loan Amount $50,000 minimum (case-by-case exceptions possible).
Maximum Loan Amount $2,000,000 (investor overlay).

Property Types
Eligible SFRs (Single-Family Residences) 2–4 Units (must occupy one unit) PUDs (Planned Unit Developments) VA approved Condos Manufactured homes (must be on a permanent foundation and meet VA guidelines).
Ineligible Second Homes Investment Properties Non-Warrantable Condos Vacant land or “build-on-your-own-lot” without VA-approved construction loan.

Multiple VA Loans
General Policy Generally allows only one active VA loan at a time
Exceptions If the veteran has remaining entitlement (not fully used on the first loan), they may have two VA loans simultaneously (common when relocating but keeping the prior home). Selling the property securing the prior VA loan.

Seller Contributions
Maximum Contribution 4% of purchase price
Allowed Uses Closing costs Prepaid expenses Discount points Funding fee Buydown escrows

Disclaimer – This matrix was published on 09/26/2025. Program guidelines may have changed since then. Please contact Alexis to confirm the most current requirements. For complete details, refer to the Partner Matrices PDF or reach out directly to Alexis for program-specific guidance.

Primary Residence

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