✅ Why FHA Loans Are Ideal for Credit-Challenged Buyers
🔄 Can You Use a VA Loan More Than Once? Yes — Here’s How
Built for those who served — here’s how to turn your benefit into a home.
If you’re a veteran, active-duty service member, or eligible surviving spouse, you may qualify for one of the most powerful mortgage options available: the VA loan.
👉 Backed by the U.S. Department of Veterans Affairs, VA loans make homeownership more affordable, flexible, and accessible — with benefits no other loan can match.
Here’s a complete guide to what VA loans are, who qualifies, and why they’re one of the most valuable benefits of military service.
✅ What Is a VA Loan?
A VA loan is a type of mortgage backed by the Department of Veterans Affairs. It’s issued by approved lenders like PRMI, but guaranteed by the government — which means lower risk for lenders, and major perks for borrowers.
You can use a VA loan to:
- Buy a primary residence
- Build a new home
- Refinance an existing mortgage
- Tap into your home equity (via a VA cash-out)
💸 Top Benefits of VA Loans
| Feature | VA Loan Advantage |
|---|---|
| Down Payment | $0 down (no minimum required) |
| Mortgage Insurance | None — ever |
| Credit Flexibility | No official score minimum (often 580–620 accepted) |
| Interest Rates | Often lower than conventional loans |
| Fees | Limited closing costs; seller can pay some |
| Lifetime Usage | No limit on how many times you can use your VA benefit |
💡 Many veterans are surprised to learn they still have full entitlement — or can restore it even after using it once.
👤 Who Qualifies for a VA Loan?
To be eligible, you must meet one of the following:
✅ Service Requirements:
- 90+ days active-duty service during wartime
- 181+ days active-duty during peacetime
- 6+ years in the National Guard or Reserves
- Or be the spouse of a service member who died in the line of duty or from a service-connected disability
📘 You’ll need a Certificate of Eligibility (COE) to get started — we can help request it for you.
🧾 What About Credit and Income?
- Most VA lenders accept credit scores as low as 580–620
- Debt-to-income ratios can be more flexible than conventional
- You’ll need stable income and a willingness to live in the home as your primary residence
✅ PRMI helps veterans qualify even if they’ve had past credit events, collections, or are using alternative income.
🏠 What Can You Use a VA Loan For?
VA loans can be used to:
- Buy a single-family home, condo, or townhouse
- Purchase a multi-unit property (up to 4 units) if you live in one
- Build a home with VA construction-to-perm options
- Refinance (rate reduction or cash-out)
You can’t use a VA loan for investment properties or vacation homes — but you can keep your VA loan while renting out a previous residence in many cases.
🧠 Common Misconceptions
- “You can only use it once.” ❌ False — you can use your VA benefit multiple times.
- “It’s only for first-time buyers.” ❌ False — there’s no first-time requirement.
- “You need perfect credit.” ❌ False — VA is more forgiving than conventional.
We clear this up daily for veterans who were told no somewhere else.
🏢 Why PRMI?
As a VA-approved lender, PRMI offers:
- Fast access to your Certificate of Eligibility (COE)
- Flexible credit guidelines
- In-house processing and underwriting for faster closings
- Support from loan officers who understand VA guidelines inside and out
We’re here to make your VA benefit work as hard as you did.
👇 Wondering If You’re Eligible for a VA Loan?
Let’s check your service record, income, and goals — and help you start the process with no obligation.