How Many Times Can You Use Your VA Loan Benefits? The Surprising Answer!

Wondering how many times you can use your VA mortgage benefits? Learn the truth and how we can help you qualify.
Jun 21, 2023

Are you a veteran, an active-duty service member, or a surviving spouse? Well, guess what? You can use your VA loan benefit not just once but as many times as you want!

As long as you're still eligible for a VA loan and can qualify for a home loan, there's no limit to the number of mortgages you can take out using your VA benefits.

Believe it or not, you can even have more than one VA loan simultaneously under certain circumstances!

VA home loans are designed specifically for those who have served our country in the armed forces; in some cases, their surviving spouses are also eligible. The great thing about these loans is that you don't need to worry about making a down payment when purchasing a home.

The down payment is often the biggest hurdle for homebuyers, especially if you're a first-timer. So with the down payment requirement eliminated with VA loans, homeownership becomes much more accessible.

How Do VA Loans Work?

VA loans are backed by the Department of Veterans Affairs (VA). They don't issue the loans directly, but they insure mortgages given by lenders. This means that lenders take on less risk, and as a result, VA loans often come with more attractive terms than other loan types like conventional or FHA loans.

To be eligible for a VA loan, you'll need to meet specific requirements based on your service history. Find out the details at or contact us for personalized help.

Costs Associated with VA Loans

Okay, let's talk about the cost. The one trade-off for obtaining a 0% down payment mortgage is that you must pay the VA funding fee. But don't let that discourage you! This fee is a one-time payment that helps cover the cost of the VA loan program.

Here's the good news: If you're a veteran with a VA-approved disability, you're exempt from paying the funding fee. The same goes for surviving spouses who qualify, meaning if your spouse passed away while in action or due to a service-connected injury. Oh, and here's another exception: If you return to active duty after receiving a Purple Heart, you won't have to pay the funding fee either.

For first-time VA borrowers who make a down payment of less than 5%, there's a fee equal to 2.15% of the loan amount. Subsequent borrowers with the same down payment pay just a bit more at 3.3%. If you can put down a larger down payment, your funding fee will be lower. And guess what? You can pay this fee at closing or finance it into the loan.

Here To Help You, Every Step of the Way

So, if you're considering buying a home and taking advantage of these fantastic benefits, why not reach out to us, your local mortgage professional? We can guide you through the process and help you secure a VA loan that suits your needs.

Don't miss out on this opportunity to make homeownership more accessible and affordable. Get started online today!

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.