VA Loans
VA Loan Requirements & Eligibility
VA loans are one of the most powerful mortgage programs available today. Eligible veterans and active-duty service members may qualify with no down payment, lower monthly payments and flexible guidelines. 
VA LOAN HIGHLIGHTS
Why VA Loans are Popular
No down payment required
Buy a home with $0 money down
Flexible credit scores
Credit scores as low as 520 may qualify
Competitive Rates
VA loans often offer some of the lowest rates in the market.
No Monthly PMI
Unlike conventional and FHA loans, VA loans do not require mortgage insurance.
designed for military borrowers
Created to help eligible veterans, active-duty service members, and surviving spouses
VA Loan options at Andes Mortgage
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VA Purchase Loan
A VA purchase loan helps eligible veterans, active-duty service members, and qualifying surviving spouses buy a primary home with flexible guidelines and the possibility of $0 down.
VA IRRRL Streamline Refinance
A VA IRRRL, also called a VA streamline refinance, is designed for homeowners who already have a VA loan and want to lower their payment, improve their loan terms, or move from an adjustable rate to a fixed rate.
VA IRRRL Cash-Out Refinance
A VA cash-out refinance allows eligible borrowers to refinance their current mortgage into a new VA-backed loan and potentially access home equity for debt consolidation, home improvements, or other needs. VA says this option can be used to take cash out or refinance a non-VA loan into a VA-backed loan.
VA Renovation Loan
A VA IRRRL, also called a VA streamline refinance, is designed for homeowners who already have a VA loan and want to lower their payment, improve their loan terms, or move from an adjustable rate to a fixed rate.
Do VA Loans Have Loan Limits?
VA loan limits depend on your available entitlement. Many eligible borrowers with full VA entitlement may be able to buy above the standard conforming loan limit with no down payment, but the final approval still depends on income, credit, debt-to-income ratio, residual income, property type, and lender guidelines.
This is where your calculator can help estimate payment, but it cannot replace a full VA pre-approval.
Can I have two VA loans at the same time?
Yes — it is possible to have two VA loans at the same time, but it depends on your remaining VA entitlement, your ability to qualify for both payments, and whether the new home meets VA occupancy requirements.
This usually comes up when a veteran buys a home with a VA loan, later needs to move, and wants to keep the first property instead of selling it. If you still have enough remaining entitlement, you may be able to use your VA benefit again for the next primary residence.
VA Loan Process
Check Your VA Eligibility
We confirm whether you may qualify based on service, history & VA entitlement..
Get your Certificate of Eligibility
We retrieve your COE to verify your VA loan benefit.
Review Your Numbers
We look at your payment, debt-to-income ratio, credit, income, assets, and loan options.
Shop for a home or review your refinance
For purchases, you can start shopping with a pre-approval letter from Andes Mortgage. For refinances, we compare your current loan against the new option.
Close with confidence
Once underwriting, appraisal, and final conditions are complete, you move towards closing.
VA Loan Requirements
Minimum requirements for a VA loan with Andes Mortgage
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Requirement
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Minimum
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|---|---|
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Credit Score
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580+ ($0 down) | 520 (10% down)
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Minimum down payment
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$0 Down
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Debt to income ratio (DTI)
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Up to 57%
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Loan Limits
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Mortgage Insurance
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Not required
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Occupancy
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who are VA loans great for?
VA loans May be a great fit if you...
VA loans are designed to help eligible veterans, active-duty service members, and surviving spouses achieve homewonership with flexible qualification guidelines, competitive interest rates and no down payment requirements.
Eligible veteran or active-duty member
Looking for a true $0 money down loan
Need flexible qualifications
Higher debt-to-income ratio
Seeks the best rates and payments
ready to explore your VA loan options?
Let’s walk through your numbers, monthly payment, and available VA loan options so you can understand the best path forward.
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