Eligibility depends on service history, including length and character of service, and it extends to some reservists, National Guard members, and surviving spouses in certain situations. Getting started usually means requesting a Certificate of Eligibility, which a loan officer can often pull through the lender's systems. Most VA loans carry a funding fee, a one-time charge that helps keep the program running for future veterans. That fee can usually be rolled into the loan, and some veterans, including those with qualifying service-connected disabilities, may be exempt from it altogether. Reviewing your specific eligibility early prevents surprises later in the process.

Rates across the market remain elevated compared with what many borrowers hoped for, and VA loan pricing moves with the same bond market as conventional products. That means the savings usually show up in the upfront cash and the lack of mortgage insurance rather than in a dramatically lower interest rate, so comparing the full cost of both options matters. VA loans also require a separate appraisal that checks the property against minimum standards, which can affect older homes or homes needing repairs. Sellers working with VA buyers should plan for that appraisal step and, in some cases, a slightly longer timeline. Veterans thinking about buying in the next few months should run the numbers now rather than after they fall in love with a house.