Zero down payment, no monthly mortgage insurance and no VA loan limit with full entitlement. Here is the complete 2026 playbook for buying with your VA benefit in Florida, Massachusetts, Connecticut and Rhode Island.
Reviewed and updated October 3, 2026 by Ryan and Megan Winslow, Winslow Homes
Ryan and Megan are a military family. Ryan is U.S. Army retired, so they know the VA process from both sides of the table. He and Megan are licensed real estate brokers in Florida, Massachusetts, Connecticut and Rhode Island and Mortgage Bankers with The Federal Savings Bank. That means one team can help you find the home, structure the VA loan and keep the contract on track through appraisal and closing.
The VA home loan guaranty is one of the most valuable benefits you earned. It lets a private lender make a loan with no down payment because the Department of Veterans Affairs guarantees part of it. Used well, it can save you tens of thousands of dollars compared with other loan types. Used poorly, it can cost you a house in a competitive market. This guide covers the rules that matter most in 2026.
Eligibility depends on when and how you served. These are the minimum service requirements published by the VA. Discharge must generally be under conditions other than dishonorable.
| Service group | Minimum service to qualify |
|---|---|
| Active duty service members | At least 90 continuous days of active service |
| Veterans, Gulf War era to present (August 2, 1990 to now) | 24 continuous months, or the full period you were called or ordered to active duty (at least 90 days), or at least 90 days if discharged early for certain reasons, or less than 90 days if discharged for a service-connected disability |
| Veterans, September 8, 1980 to August 1, 1990 | 24 continuous months, or the full period ordered (at least 181 days), or at least 181 days with a qualifying early discharge, or less if discharged for a service-connected disability |
| Vietnam War era (August 5, 1964 to May 7, 1975) | At least 90 total days of active service, or less if discharged for a service-connected disability |
| Korean War and World War II eras | At least 90 total days of active service, or less if discharged for a service-connected disability |
| National Guard and Reserve | At least 90 days of non-training active duty service, or 6 creditable years in the Selected Reserve or National Guard with an honorable discharge, retirement or continued service |
| Surviving spouses | May qualify if receiving Dependency and Indemnity Compensation (DIC), or if the spouse is missing in action or a prisoner of war, among other cases |
Military retirees qualify, and many receive VA disability compensation in addition to retired pay. If you are rated, ask about funding fee exemption before you price any loan.
The VA benefit is not one time only. You can use it again after you sell, and in some cases while you still own a home bought with a VA loan, using remaining entitlement.
VA loans are for homes you will live in. You generally must certify you intend to occupy the home, and 1 to 4 unit homes qualify when you live in one unit.
The Certificate of Eligibility (COE) shows a lender that you qualify and how much entitlement you have available. You need it before closing, and it is smart to pull it before you shop.
Ryan and Megan can request your COE electronically through the VA system, often in minutes for veterans with clear records.
You can request your own COE through the VA website. It is free, and no one should ever charge you just to obtain it.
Use the paper form if the online path does not work for your situation.
Entitlement is the amount the VA guarantees. It is the single biggest factor in how much you can borrow with no money down.
If you have full entitlement, the VA does not impose a loan limit. You can borrow with no down payment as long as the lender approves your credit, income, debts and assets, and the loan does not exceed the lower of the price or the appraised value.
If part of your entitlement is still tied to a current VA loan, your no down payment amount is based on the county conforming loan limit. The 2026 baseline one unit limit set by FHFA is $832,750, and higher cost counties are higher.
| Remaining entitlement example (2026 baseline county) | Amount |
|---|---|
| County one unit loan limit | $832,750 |
| 25% of the county limit | $208,187 |
| Entitlement still tied to a prior VA loan (example) | $50,000 |
| Remaining entitlement | $158,187 |
| Maximum loan with no down payment (remaining entitlement x 4) | About $632,750 |
The prior loan amount above is a hypothetical example to show the math. Your COE lists the entitlement you have actually used. Ryan and Megan will run your exact numbers.
The funding fee is a one time charge paid to the VA that keeps the program running. It can be paid at closing or financed into the loan. These rates have been in effect since April 7, 2023 and remain the published rates on VA.gov in 2026.
| Purchase or construction loan | First use | After first use |
|---|---|---|
| Less than 5% down | 2.15% | 3.3% |
| 5% or more down | 1.5% | 1.5% |
| 10% or more down | 1.25% | 1.25% |
| Other VA loan types | Funding fee |
|---|---|
| Cash-out refinance, first use | 2.15% |
| Cash-out refinance, after first use | 3.3% |
| Interest Rate Reduction Refinance Loan (IRRRL) | 0.5% |
| Loan assumption | 0.5% |
| Manufactured home (not permanently affixed) | 1% |
On a $400,000 first use purchase with no down payment, a 2.15% fee is $8,600. Put 5% down and the fee drops to 1.5% of the loan. If your disability claim is pending, tell us early. A rating issued before closing can remove the fee, and a refund may be possible if a retroactive rating is granted later.
Every VA purchase gets a VA appraisal from an appraiser assigned by the VA, not chosen by the lender. The appraiser sets the reasonable value and checks the home against the VA Minimum Property Requirements (MPRs). The goal is a home that is safe, structurally sound and sanitary.
The VA appraisal is not a home inspection. Ryan and Megan still recommend a full professional inspection, plus wind mitigation and four point inspections in Florida, which insurers often require.
Under the VA Tidewater process, the appraiser contacts the lender before finalizing a value below the contract price, giving your team a short window to submit comparable sales. If the value is still short, you can renegotiate, pay the difference in cash, request a Reconsideration of Value, or use the VA escape clause, which lets you cancel and recover your deposit when the appraisal is below the price.
A condominium must be on the VA approved list for a VA loan. Check the VA condo report search before you write an offer. If the project is not approved, the association or lender can request approval, but that takes time and is not guaranteed. In Florida, also review the association's milestone inspection and structural reserve status, which affect special assessments.
If the appraiser calls for repairs to meet MPRs, they usually must be completed and verified before closing. Sellers often handle them. Write your contract so repair responsibility and timing are clear from day one.
The VA caps seller concessions at 4% of the reasonable value. Normal closing costs and standard discount points paid by the seller are treated separately, so a seller can often pay your closing costs and still give you a concession.
| Item paid by the seller | Counts toward the 4% cap? |
|---|---|
| Your normal closing costs (title, recording, appraisal, credit report) | No |
| Normal discount points to buy down your rate | No |
| Paying your VA funding fee | Yes |
| Prepaid property taxes and insurance (escrows) | Yes |
| Paying off your debts to help you qualify | Yes |
| Temporary interest rate buydowns and gifts such as appliances | Yes |
The VA limits what a lender may charge a veteran. A lender may charge a flat fee of no more than 1% of the loan amount in place of many itemized fees.
On a purchase, the funding fee is the only closing cost that can be rolled into the loan. Everything else is paid by you, the seller or a lender credit.
Since the 2024 changes to how buyer agents are paid, the VA has allowed veterans to pay a reasonable and customary buyer broker fee. Sellers can still offer to pay it. Ask Ryan and Megan how to structure it in your offer.
Your VA benefit keeps working after closing. These are the three tools veterans use most.
| Option | What it does | Key rules |
|---|---|---|
| IRRRL (VA Streamline) | Refinances an existing VA loan to a lower rate or from an adjustable to a fixed rate | 0.5% funding fee; usually no appraisal or income verification required by VA; loan must be seasoned (210 days from the first payment due and 6 monthly payments made); costs must generally be recouped within 36 months; you certify prior occupancy |
| VA cash-out refinance | Replaces any current loan (VA or not) and can take cash out | VA permits up to 100% of value, though many lenders cap lower; full appraisal and underwriting; funding fee 2.15% first use or 3.3% after first use unless exempt |
| Assumption | A buyer takes over the existing VA loan, rate and balance | Buyer must qualify with the servicer; 0.5% funding fee; the seller's entitlement stays tied up unless the buyer is an eligible veteran who substitutes entitlement |
Homes financed in 2020 and 2021 often carry rates far below today's market. Any qualified buyer, veteran or not, can assume a VA loan. The challenge is the gap between the loan balance and the price, which must be covered with cash or a second mortgage. Ryan and Megan can help you weigh the numbers.
Letting a non-veteran assume your loan can tie up your entitlement until that loan is paid off. If you plan to buy again with VA soon, ask for substitution of entitlement or consider a standard sale. Plan this before you list.
The VA loan is federal. Property tax breaks and housing programs come from each state and town. Stack them correctly and your monthly payment can drop again.
Exemption amounts change and many require an application by a local deadline. Confirm with the county property appraiser (Florida) or local assessor (MA, CT, RI). See our Florida homestead exemption guide and property taxes guide.
A VA purchase follows the same path as any other purchase, with a few extra checkpoints: the COE, the VA appraisal and the property requirements. Ryan and Megan coordinate the real estate side and the loan side so each checkpoint is handled before it can slow you down.
Apply at winslowloan.com. Ryan and Megan pull your COE, review credit, income and entitlement, and issue a pre-approval that sellers take seriously.
Include taxes, homeowners insurance, flood insurance if needed and HOA dues. In Florida, insurance can matter as much as rate.
Check condo approval, roof age, and obvious MPR issues before you fall in love with a property.
Use seller-paid closing costs and up to 4% in concessions strategically. A clean VA offer can compete with conventional buyers.
Order inspections right away. The VA appraisal and underwriting run in parallel. Respond to document requests the same day.
Sign, get keys, then file for homestead and veteran exemptions by the local deadline so your first full tax bill reflects them.
Disabled veterans are often exempt. Confirm your status on the COE before you compare loan offers.
Falling for a condo that is not VA approved can cost weeks and your earnest money timeline.
Wind and flood insurance can change your qualifying payment in coastal areas. Get quotes during the inspection period.
Repair responsibility, appraisal terms and closing cost credits should be clear in writing, not promised later.
A past assumption or short sale can reduce your entitlement. Pull the COE early so there are no surprises.
Exemptions are not automatic. Missing Florida's March 1 deadline can cost you a full year of savings.
Not if you have full entitlement. The VA removed loan limits for those borrowers in 2020. If part of your entitlement is in use, county conforming limits apply to your zero down amount.
The VA does not set a minimum score. Lenders set their own standards, so call Ryan and Megan for the current requirement on your scenario.
Yes. A VA loan can finance a 1 to 4 unit property if you live in one of the units.
Yes. Entitlement can be restored after you sell and pay off the loan, and you may be able to buy again using remaining entitlement.
The VA does not require one, but you should get one. The VA appraisal checks minimum standards, not every defect.
Some surviving spouses qualify, especially those receiving DIC. They also do not pay the funding fee.
Ryan and Megan Winslow help veterans and military families buy homes across Florida, Central Massachusetts and Boston, Rhode Island and Connecticut. 17 years and 3,000+ homes sold. Mortgage Bankers with The Federal Savings Bank. Ryan C Winslow NMLS 2426605. Megan Winslow NMLS 2692933.
Call 386-690-5858 or email [email protected]. Also see mortgage options, down payment help and flood insurance.
Sources: VA eligibility, VA funding fee and closing costs, VA entitlement and loan limits, FHFA 2026 conforming loan limits, Florida Department of Revenue PT-109, Florida Housing Hometown Heroes, Mass.gov veteran exemptions, CHFA Military Homeownership, CT Senate Democrats on HB 5491, RIHousing 15kDPA. Updated October 2026. Rules change; confirm with Ryan and Megan before you act.
Instant answers on programs, payments, towns and homes, any time, in English or Spanish. Ryan and Megan follow up personally.
Estimates from your inputs only. Not a loan offer, rate quote or approval. Ryan and Megan, Mortgage Bankers with The Federal Savings Bank (NMLS #411500), confirm real numbers.
