20% planning comparison
$90,00020% of an illustrative $450,000 purchase.
VA Loans
Plan a home purchase or refinance using your earned VA benefit, with attention to eligibility, property approval and total cost.
Begin with eligibility and entitlement
Eligible veterans, service members and certain surviving spouses may use VA-backed financing. A Certificate of Eligibility documents benefit eligibility; it is not loan approval. The lender also reviews income, credit, debts and the property.
Eligible VA buyers may purchase with no down payment
Potential down payment with eligible VA financing
20
%
Eligible VA option
$00% of the same price, if the borrower and property qualify.
Plan beyond the down payment
+Closing costs, prepaid items, reserves where required, and monthly housing costs still matter.
Illustrative down-payment amounts only. The counter moves from 20% to a possible program minimum; it does not show a rate, discount or individual approval.
No down payment does not mean no cash to close. Entitlement, the appraised value, lender requirements and the transaction matter. We check your Certificate of Eligibility and build the complete purchase budget.
Smart home financing starts with strategy
Buying or refinancing? We compare options across our network of 150+ wholesale lenders, explain the trade-offs, and build a plan around your goals. Start with a pre-approval video conversation so you know what to expect before moving forward.
VA financing: the benefits and the checkpoints
| Term | Why it matters |
|---|---|
| Certificate of Eligibility | Documents service-based eligibility and entitlement. It is an important starting point—not a loan approval. |
| Entitlement | The available VA guaranty affects planning, especially when another VA loan is outstanding. Full entitlement removes a VA county loan limit, but lender and appraisal limits still apply. |
| Residual income | Money remaining after specified obligations. VA reviews it alongside credit and debt ratios. |
| Funding fee | Purchase fees vary by down payment and prior use; current standard tiers range from 1.25% to 3.3%. Applicable exemptions include qualifying service-connected disability circumstances and other VA categories. |
| Mortgage insurance & occupancy | VA-backed loans do not require monthly mortgage insurance. Purchase loans generally require intended personal occupancy, with permitted service-related exceptions. |
VA IRRRL: evaluate the refinance, not just the shortcut
Existing VA financing
IRRRLUsed to refinance an existing VA loan. It is not a cash-out path.
Seasoning
DatesAt least six consecutive monthly payments and 210 days after the first payment due date are key seasoning checkpoints.
Cost comparison
0.5%The standard IRRRL funding fee is 0.5%, unless exempt. Closing costs and the benefit/recoupment rules still matter.
An IRRRL may reduce the rate or improve payment stability by moving from adjustable to fixed financing. VA generally does not require a new appraisal or full income underwriting for the usual IRRRL, but lender requirements and situations requiring additional review can differ. Financing costs into the loan increases the balance; compare total costs and time to recover them.
Review VA’s IRRRL overview · VA seasoning guidance. Our team can compare your current VA loan with a refinance scenario.
VA: put the earned benefit in context
What is a VA loan?
A VA-backed home loan helps eligible service members, veterans and surviving spouses purchase or refinance a primary residence. No down payment may be needed when entitlement, price, value and lender requirements align, and VA loans do not require monthly private mortgage insurance.
VA does not set a universal minimum credit score; participating lenders apply their own requirements. Our team reviews the full financing plan, including the funding fee or exemption, closing costs and reserves. Use our VA Mortgage Calculator to explore a scenario.
Thank you for your service
We are honored to help eligible veterans, active-duty service members and surviving spouses use their home-loan benefits. Our team can help request your Certificate of Eligibility (COE) and review available entitlement, prior use and any applicable funding-fee exemption.
We will compare purchase or refinance choices and explain the cash you may need for closing costs, reserves or a purchase-price/appraisal gap. A no-down-payment benefit does not mean every transaction has no cash due at closing.
Benefits & Entitlements
Here are some of the eligible benefits as part of your Veterans Affairs Entitlement for your service:
- 100% Financing & No Down Payment Loans
- No Private Mortgage (PMI)
- No Penalties for Prepaying the Loan
- Lower FICO Credit Scores allowable
- Competitive Interest Rates
- Qualification follows VA and lender rules; our team compares the full scenario
- Eligible seller credits may help with closing costs within program limits
- Disabled Veterans may be eligible for a VA funding fee waiver saving thousands of dollars
- Some Colorado assistance programs may be paired with a VA loan when program and lender rules permit. Explore our Colorado down payment assistance guide and confirm eligible uses of the funds.
- IRRRL – Interest Rate Reduction Refinance Loan
- Is a streamlined refinance for veterans if you already have a VA-backed home loan to lower your monthly mortgage payment and get a lower interest rate.
Who is eligible for a VA loan?
Eligibility can include veterans, active-duty service members, certain National Guard and Reserve members, and eligible surviving spouses. Service requirements vary by service period and circumstances; a single day-count rule does not cover everyone.
Our team can help review your VA eligibility and Certificate of Eligibility. The COE establishes benefit eligibility; the lender also reviews credit, income, occupancy and the property.
Origin of the VA Home Loan
The Veteran Loan originated in 1944 through the Servicemen’s Readjustment Act; also know as the GI Bill. It was signed into law by President Franklin D. Roosevelt and was designed to provide Veterans with a federally-guaranteed home loan with no down payment.
The Veteran Administration provides insurance protection to lenders in the case of a loan default. Because the mortgage is guaranteed, lenders will offer a lower interest rate and terms than a conventional home loan. VA home loans are available in all 50 states. You may also realize reduced closing costs and it always comes with no prepayment penalty.
Eligibility and entitlement
Begin with the Certificate of Eligibility and available entitlement. Start your financing plan →
Property and occupancy
Review occupancy plans, appraisal and property condition. Start your financing plan →
Complete cost comparison
Include closing costs and funding-fee treatment, not just the down payment. Start your financing plan →
Using VA financing more than once
The VA benefit may be reused. Entitlement restoration, existing VA loans and the new property need review. A service-related funding-fee exemption may apply to eligible borrowers; confirm the actual exemption rather than assume every veteran has it.
VA refinancing: two different questions
An Interest Rate Reduction Refinance Loan may serve eligible existing VA borrowers. A cash-out refinance follows different requirements. Compare the new payment, costs, term and required benefit before deciding. A lower payment with a longer term can still increase total interest.
Illustrative photograph via Pexels; resized. Source · Pexels License.
The right loan begins with your goals
Tell us how you plan to use the home, what monthly payment feels comfortable and how long you expect to keep the financing. We compare options across lenders, explain the costs and help you choose a strategy with a clear next step.
Our pre-approval video call gives you time to ask questions, understand the trade-offs and coordinate your financing before an offer or refinance decision.
Compare benefit and cost
Eligible VA loans may offer no down payment and do not require monthly mortgage insurance. A funding fee may apply unless the borrower qualifies for an exemption. A down payment, appraisal gap or other cash requirement can still arise in a specific transaction.
Use the benefit thoughtfully
Review entitlement, occupancy, the appraisal and cash to close before making an offer. For refinancing, compare closing costs, loan structure and the time needed to recover costs. Down payment assistance may be researched for eligible costs where the administrator permits the loan pairing.
Explore Mortgage Calculators
Compare purchase, refinance and affordability scenarios, then let our team help turn the estimate into a financing plan.
VA seller payments: two different categories
| Situation | Credit planning rule |
|---|---|
| Ordinary buyer closing costs and normal discount points | Not counted in the VA 4% concessions bucket; applicable fee rules still govern. |
| Additional seller concessions | Generally capped at 4% of VA-established reasonable value. |
| Example: $450,000 reasonable value | $18,000 additional-concession ceiling, separate from ordinary eligible costs. |
VA concessions can include items such as the funding fee, certain prepaid charges and permitted debt payoffs. Ordinary closing costs are treated differently. Our team checks the contract and VA categories before you negotiate the credit.
Seller credits are negotiated, not guaranteed. Eligible credits may cover approved closing costs, prepaid items or points; they do not replace a required down payment or become unrestricted cash back. A percentage ceiling is not a promise that every dollar can be used. Repair arrangements and price changes need documented approval, not an informal workaround.
Questions worth asking
No. It confirms benefit eligibility, while the lender separately evaluates the borrower, property and proposed loan.
It may be possible. Available or restored entitlement, existing VA obligations and the new transaction need review.
Review your contract options, reconsideration process if appropriate and any cash needed. Do not assume the lender will finance the difference.
An eligible transaction with sufficient entitlement may permit no down payment. A price above the appraised value or other transaction details can still require cash. We will map out the down payment, closing costs and available entitlement before you make an offer.
No. Certain borrowers are exempt. When a fee applies, its amount depends on the transaction and applicable VA rules. Our team will review your exemption status and show how the fee affects your financing.
More resources for your financing decision
Explore these related guides and resources from your original loan page.
What our clients say
Reviews from Google44 client reviews
Paul and his team helped me with a very complicated transaction for a cash out mortgage. I would highly recommend him.
Paul was great. He helped us understand our loan better and put our needs first. I’d strongly recommend his services. Throughout our home buying process, Paul Cederholm demonstrated the highest level of professionalism throughout our home loan process, an amazing ability to explain complex mortgage terms in simple language and a willingness to work evenings and weekends to meet our closing deadline. We got our home purchase loan in Chicago thanks to Paul Cederholm. I would absolutely recommend Paul Cederholm for your home loan because I would recommend Paul. You can trust him and he is very informative. We can't recommend Paul Cederholm enough for your home financing needs.
My overall experience working with Paul was fantastic! All his help made the whole process seem easy. Throughout our home buying process, Paul Cederholm demonstrated a talent for making the mortgage process seamless and stress-free, truly professional lending services that exceeded our expectations and a knack for shopping rates and locking in an amazing deal for us. He is humble and easy-going, which made us feel at ease. I would absolutely recommend Paul Cederholm for your home loan because paul is a truly amazing advisor: el mejor! Without his help, our dream of owning our first home would not have been possible. After our introductory call ended, my husband and I looked at each other and said, "He is the one!" We were absolutely right.
Paul exceeded our expectations by offering excellent advice and answering our questions before we even had to ask them (mind reader!). Paul always had our best interests at heart, and his dedication and passion showed in every conversation. We are thankful to have worked with someone trustworthy and honest; someone who went above and beyond for us.
Thank you, Paul, for taking all of our doubts and worries away.
Thank you for cheering us on!
We absolutely recommend you and your team to anyone looking for the best mortgage advisor. We can't recommend Paul Cederholm enough for your home financing needs.
Exceptional experience with Paul and his team! We knew we wanted to work with Paul not long into our introductory call. He put us at ease as he explained all the details of what it would take to get into our first home. Numbers are scary when it comes to such a large purchase, but he walked us through the documents in a way that was easy to comprehend. He made sure we understood the information and answered all the questions we had before proceeding to the next task. He was always available for a call, through text, and email. Never once did we feel uncomfortable or like we were not being heard and understood. We got the best rate available to us based on our information and also helped us get a rate buy-down! Thank you, Paul and your team, for everything you did. We look forward to working with you again should the time come to refinance or get into a different home. Paul Cederholm brought impressive expertise across mortgage products that helped us find the perfect fit, incredible dedication to finding us the best mortgage rate and a willingness to work evenings and weekends to meet our closing deadline. I'd tell anyone looking for a home loan to call Paul Cederholm — highly recommend Paul and his team as we felt comfortable, understood, and empowered throughout the entire process!. I would highly recommend Paul Cederholm — truly an exceptional mortgage professional.
(Translated by Google) Excellent service from Cederholm.
(Original)
Excelente atendimento de Cederholm.
Working with Paul and his team was an absolute dream! We had a particularly complex transaction, Paul made navigating feel easy and less stressful.
Paul and his team were absolutely amazing! Insanely fast response time to any question I had and amazing explanations throughout the whole process. I can’t imagine using another broker ever again!
If you are looking for a mortgage broker for your next home purchase, I highly recommend Paul Cederholm and his team at Cederholm Mortgage Advisors 🏡.
Paul helped me plan the financing for my new home, and I am so grateful for his guidance throughout the process. At the beginning, I felt nervous because the home buying process can feel very intimidating. With Paul’s care, patience, and expertise, I grew into a confident home buyer by the time we reached closing 🌿.
Paul was always available to answer my questions and explained everything in a clear, supportive, and non-intimidating way. He stayed one step ahead throughout the loan process and helped ensure my loan approval moved along quickly and smoothly.
Paul also has a wonderful team. Their attention to detail and clear communication helped me feel supported and never overwhelmed during the process 🌸.
I truly loved working with Paul. He was wonderful to have by my side during such an important step in my life. If you are looking for a knowledgeable and caring mortgage advisor who will guide you every step of the way, I wholeheartedly recommend Paul Cederholm and his team.
Buying my first house was an exceptional experience because Paul was tremendously helpful, and communicative. I can’t thank him and his team enough and highly recommend!!!
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Recently I had the pleasure of working with Paul and I can confidently say that my experience was nothing short of exceptional.
Trust is a crucial element when it comes to financial decisions, He took the time to understand my unique needs and goals, ensuring that every step of the process was transparent and tailored specifically to me. I never felt rushed or pressured; instead, I felt supported and empowered to make informed choices. Whether it was providing insights into market trends or introducing me to other professionals who could assist with my financial journey, Paul went above and beyond to ensure I had access to the best tools and information available.
I can say that Paul genuinely cares about his clients and strives to build lasting relationships. I can't recommend him enough for anyone looking for a mortgage broker who feels like family, fosters trust, and provides invaluable resources. Thank you, Paul, for making this experience so positive and rewarding!
We started the process in June and closed in November because we were indecisive and Paul was patient, he heard our request and never pushed us to buy until we were comfortable with our purchase. Luckily, he waited on us and we closed on the perfect home. We loved his 24/7 availability for us even on his vacation days. Thanks for an amazing work !
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You and your team were very helpful throughout the entire process! I could always rely on you to help answer questions and be available at all times. I would highly recommend!
Paul was amazing to work with! Unbelievable response times and guided us through every step of the process.
Paul was great to work with - so friendly, understanding and helpful! We felt very cared for throughout the process and he never made us feel like we were bothering him with our questions. He was always upfront and honest and we are so grateful for his help!
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We bought an amazing Condo in the heart of DTC. Paul was very helpful and made us, first home buyers, feel very confident in the process of buying a home. I would highly recommend!
Paul went above and beyond to get all the numbers to work for us. He was available for questions at any time, even at the most unusual times. He consistently would give us updates and let us know that everything was going well or immediately would call us if there are any issues. The whole process went incredibly smoothly and made the home buying process super easy!
Thank you Mr Paul, you were truly amazing and on top of everything! Love your proactive approach in covering all anticipated requests ahead of putting into UW. Your professionalism and high level expertise truly shines thru and I’m so glad we connected through the grapevines. Can’t thank you enough and look forward to doing this again!
My wife and I worked with Paul when purchasing our first and second home. He was recommended to us from a trusted friend so we decided to go with him when trying to find the best loan for us. Going into it, we had no idea what we were doing but Paul was extremely attentive, did a great job explaining the details, and I felt like he always put our needs first. It was a pleasure working with Paul and we will definitely be working with Paul again in the future!
Was a great experience working with Edge to get into our first home. Everything was made easy and clear for us to understand
Paul was excellent! He communicated all of our options and so we can make the best decision possible! He kept us informed the entire time as to where we were in the process so we were able to have a smooth and efficient closing!
Working with Paul and his team was amazing! Paul was straight to the point, gave us guidelines on what to and not to do, made us feel comfortable buying a home, and made it a very simple process. We will forever work with Paul and continue to recommend him to everyone we know!
Paul was absolutely amazing to work with. He kept us in the loop through EVERY step of the home mortgage process. He took the extra time to explain things we didn’t understand, and also had all of our best interests in mind. I truly felt like we were in the best hands possible when it comes to a big financial decision! We can’t thank you enough!!!
Paul was incredible! He made my first-time home buying experience way easier than I had expected. He was incredibly knowledgable and more than willing to explain anything I wasn't sure of. He was super helpful throughout and made the whole process go smoother than I thought was possible.
Paul is amazing! I would highly recommend working with him. He is so responsive and truly cares about each and every client. There are no questions left unanswered when working with Paul and he makes the home buying process easy peasy.
Working with Paul was an incredible experience. I was the listing agent for Sellers and he was the lender for the Buyer. He promised a smooth transaction up from and that’s exactly what we received. He met every deadline, early in fact, and was on the ball with keeping us updated every step of the way. His communication and correspondence was spot on. Thank you, Paul, for such a great experience and a smooth transaction!
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Hands down the easiest financial process I have ever been through. I refinanced my home loan with Paul and his team and I just sat back and relaxed while they did their thing. It was a quick and seamless process. I can’t thank Paul enough for his advice and expertise. Paul’s personal attention and his availability throughout the process always made me feel like I was his only client. Top notch service! I highly recommend Paul and his team.
Great team and service. Answered all of our questions and made sure we understood the refinance process. 10/10 recommend!
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Paul was wonderful to work with during our home-buying experience! He was very professional, personable and patient as we worked thru the various scenarios available to us, and was true to his word when he said it was his number 1 goal to ensure we were left in a better situation than when he'd come to us. Thanks to Paul's efforts and diligence, we got precisely the outcome we were looking for, and couldn't be happier!
I highly recommend Paul and his team. They worked their way and explained each step to me and what was expected of me to be quick and efficient. Thank you for a great experience.
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Paul is a great lender he made the process painless and was very informative. He helped get our credit up and rate down so we could get the best situation for our house purchase.
I recommend Paul for any financing you may need!
Paul has been one of the easiest Lenders to work with. Super honest businessman and extremely knowledgeable. I will continue to do business with him. He is a great and trustworthy lender!
Paul is straight up a rockstar. If you have a deal that a lender said can’t be done, or they don’t know how to fix. Paul has the answers and can get the job done. Very creative when it comes to helping structure his clients Loans and giving the advice to get the deal closed. He is an amazing lender partner.
Paul was extremely helpful with the refinance process. He kept us in the loop during the entire process and when the original plan fell through, he was able to work a new plan that turned out better than the original. Thanks Paul!
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Plan your next move
Bring your goals and a property address if you have one. Paul Cederholm, mortgage expert and real estate financing strategist, can help you compare the financing choices and plan your next step.
Ready to begin? Start your loan application. Prefer a direct conversation? Call 303-931-6798.
*Information, scenarios, and calculations are for educational and illustrative purposes only—not a loan offer, a commitment to lend, a rate quote or an approval. Programs, costs and qualification requirements depend on the borrower, property, selected lender and current guidelines. Examples are not guaranteed results. Our team can review the details for your situation.