VA Mortgage Loan

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Explore the benefits of a VA loan

Whether you’re a servicemember, veteran, or member of the National Guard or Reserve, you’ve earned access to your U.S. Department of Veterans Affairs (VA) home loan benefit. Backed by the VA, these loans provide competitive rates and help lenders offer you more flexible finance terms.

Unique offers with a VA loan from Chase

Combine our offers and discounts to save even more when you buy a home with Chase, if you qualify. Talk with a Chase Home Lending Advisor to get started.

$2,000 Chase VA Purchase Closing Cost Benefit

When you buy a home using the VA loan program at Chase, you’re eligible for a credit to use toward your closing costs.

$2,500 or $5,000 toward your new home

In select areas across the country, our Chase Homebuyer Grant provides $2,500 or $5,000 that’s first applied to help lower your interest rate. Then it can be applied to Chase fees, other fees or possibly your down payment. Search for saving with our Homebuyer assistance finder.

Guaranteed on-time closing or get $5,000

We promise an on-time closing for eligible products in as soon as three weeks or you'll get $5,000, if you qualify.

Down payments as low as $0

A VA loan offers low- or no-down-payment options, making it easier for you to buy a home. So you don’t have to spend months saving for a down payment.

Flexible guidelines

Qualifying for a VA loan may be easier thanks to flexible credit history guidelines with credit scores starting as low as 620.

100% financing available

Chase provides 100% financing options up to $1,209,750 of the purchase price of your home, if you qualify. Plus, with VA loans, you’re not required to carry monthly mortgage insurance.

VA loan calculator

Tell us the property information and estimated monthly payments for your new home purchase or refinance with a VA Loan.

More mortgage options to choose from

There are many positives to getting a VA home loan, but you may be interested in other types of mortgages. A Chase Home Lending Advisor is ready to answer your questions at a local branch or by phone.

Jumbo home loans— These loans apply to larger amounts on primary or second homes, refinancing or investment properties, and offer flexible terms including interest-only mortgages.
Chase DreaMaker℠ mortgage ^, ^, — This option has down payments as low as 3% with a 30-year fixed rate. Certain income requirements must be met.
Standard Agency loans ^, ^, — These loans offer down payment options as low as 3% that can come entirely from gift funds. Be sure at least one person on the loan is a first-time homebuyer.
Federal Housing Administration (FHA) loans^,^, — These loan require as little as 3.5% down which can be entirely from gift funds, have no income limits and flexible credit guidelines.

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Frequently asked questions

VA home loans are loans backed by the U.S. Department of Veterans Affairs (VA) and help servicemembers, veterans and eligible surviving spouses become homeowners. VA loans are typically issued by private lenders.

Customers who are veterans, active-duty service members, members of the Guard or Reserve may be eligible for a U.S. Department of Veteran Affairs (VA) guaranteed mortgage. A Certificate of Eligibility (COE) from the VA is required to document eligibility. Restrictions and limitations apply. See eligibility.

Aside from the eligibility requirements, the biggest difference between a VA loan and a conventional one is the down payment amount. While most conventional loans require a minimum down payment, VA loans may not. VA loans don’t require private mortgage insurance (PMI). In addition, credit requirements may be less strict with VA loans compared to conventional loans.

There are some other restrictions on VA loans. For instance, if you include anyone other than you and your spouse on the loan or title, your entitlement amount may be impacted, which could impact the maximum loan amount you are eligible for and your loan will also require an additional approval by your local VA office that could delay your closing. Also, you can only purchase a home that will be your primary residence. Additionally, the home you purchase must meet the minimum physical condition requirements. For example, the home should have the following:

A roof in adequate condition
Functional heating and cooling
A clean and continuous water supply
A structure and foundation free of termites and fungi
Walls free of lead-based paint, often found in homes built prior to 1978

Another restriction relates to condominium purchases. If you plan to buy a condo, you must make sure it's on a list of condominium developments approved by the VA. If it isn't on the list, your lender can request approval from the VA.