Skip to main content

VA Loans

VA Loans help active members of the military, veterans, and other eligible borrowers to purchase a property or refinance a mortgage.

Have Questions? Call Us at (888)316-3934

Get Your Free Rate Quote



System error encountered. Please try again.
You already have a Newfi account!
You will be redirected to the login page in 10 seconds. If you don't remember your password, go for the 'Forgot Password' option.
Thank you!
Please check your email and follow the steps to activate your account.


Mortgage Options for Military Members and Their Family

VA Loans offer veterans, service members, and their families the ability to purchase a home with relaxed guidelines. VA Loans help these borrowers qualify for a low interest rate mortgage without needing a down payment or a perfect credit score.

Get In Touch with a Newfi Senior Loan Advisor Today!

Our team of dedicated Senior Loan Advisors are here to help you find the right mortgage solution for your situation.

What is a VA Loan?

VA Loans are mortgage loans that are insured by a government department called the Department of Veteran Affairs. When a mortgage loan is insured by the government, this means that the government is guaranteeing, to the lender, that the loan will be paid regardless of whether the borrower defaults. This guarantee provides lenders with the ability to help veterans, military members, and their families qualify for a mortgage with relaxed guidelines.


Customers Helped


Reviews Averaging 4.88/5 Stars


Lending in 40 States

Who is Eligible for a VA Loan?

There are specific requirements for VA Loans, depending on your minimum active duty. However, these borrowers are generally eligible   

    • Veterans 

    • Military Members who are Currently Serving

    • Surviving Spouses

Reach out to a Newfi Senior Loan Advisor today to discuss requirements for VA Loans.

Frequently Asked Questions

How Does a VA Loan Work?

Once you’ve established eligibility and met the VA loan requirements, you will be able to submit the required documentation and choose your mortgage option. Newfi offers a wide variety of fixed rate and adjustable rate mortgages for VA borrowers and a number of loan terms. Civilian spouses can co-sign with eligible borrowers to help qualify or obtain better terms. Borrowers can also pay their mortgage at any time with no prepayment penalties. At closing, you’ll be required to pay a fee called a “funding fee” to the Department of Veteran Affairs. 

What is a VA Funding Fee?

The VA Funding Fee is set by the Department of Veteran Affairs, not your bank or lender. This fee is collected by the Department of Veteran Affairs as a way to ensure that this VA Loan program continues on to the next generation of veterans, service members, and their families.  

Do I Need to Provide Documentation as Proof of Service?

Yes. Lenders require all veterans, service members, and surviving spouses to provide a document called a Certificate of Eligibility (COE). Borrowers can find this document by the Department of Veteran Affairs website.

What are the Benefits of a VA Loan?

    • No Down Payment Requirements 
    • Lower Interest Rates
    • No Mortgage Insurance Requirements 
    • Flexible Credit Terms  
    • Lower Credit Scores Accepted
    • High Maximum Loan Amounts Available 
    • No Prepayment Penalties (PPP)
    • Streamlined Refinancing Options for Current VA Loans
    • Refinancing Available for Both VA and Non-VA Loans
    • Funding Fee Can be Completely Rolled into the Loan Itself


Note that there are caps on the amount of a loan that can be made without any down payment. Disabled veterans may have access to additional benefits. Talk to a Newfi loan advisor for details.

What are the Disadvantages of a VA Loan?

      • Borrowers with VA Loans are required to pay a one-time called a “Funding Fee”. This fee goes to the Department of Veteran Affairs at closing. 
      • VA Loans are only available on primary residences that are move-in ready. They are not available as investment property mortgages, mortgages for fixer-uppers, or home loans for vacation homes. (There may be limited exceptions for second homes.)
      • Borrowers are required to provide proof of income and credit when they apply for a VA Loan.

Can I Refinance My Mortgage with a VA Loan?

You can refinance your mortgage using a VA Loan. Speak to a Newfi Senior Loan Advisor to learn more about your options today.

Can I Buy an Investment Property with a VA Loan?

VA Loans are not permitted to be used for investment properties or rental properties. However, Newfi offers a variety of investment property mortgage solutions with flexible income and employment documentation requirements. Learn more here.

How Do VA Loans Compare to Conventional 30-Year Fixed Rate Home Loans?

Conventional 30-Year Fixed Rate Loans can offer borrowers more flexibility when looking to purchase other properties. VA Loans do not allow borrowers to purchase investment properties or second homes, so Conventional mortgage options would be the better choice for those purchases. 

However, these mortgages also have down payment requirements of as little as 3% and often require borrowers to pay Private Mortgage Insurance (PMI) for any down payment that is under 20%.  

What are Current VA Loan Rates?

Your exact VA Loan rates will depend on the mortgage you choose, the rate you qualify for and the terms you select. Contact us to review your options and calculate your payments.

What is the First Step in Getting a VA Loan?

Because everyone has their own unique situation, we recommend speaking to a loan advisor about your options as your first step. Go to or fill out the form on this page for a free consultation with one of our licensed loan advisors to learn about what documentation and qualifications you may need!

Close Menu