What Is a VA Loan?
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs, available to eligible veterans, active-duty service members, National Guard and Reserve members, and certain surviving spouses. The VA loan program was established in 1944 as part of the GI Bill and remains one of the most powerful home buying benefits available to those who have served.
VA loans stand apart from every other mortgage product because they require zero down payment, charge no private mortgage insurance, and often offer the lowest interest rates on the market. For Georgia's large military community, the VA loan is frequently the best path to homeownership.
Why VA Loans Are Unmatched
Zero Down Payment
Buy with no money down, no matter the home price
No PMI Ever
Save $100-$300+ per month compared to conventional
Best Interest Rates
VA rates are typically 0.25-0.5% below conventional
No Loan Limit
Borrow as much as you qualify for (with full entitlement)
Limited Closing Costs
VA restricts fees lenders can charge veterans
No Prepayment Penalty
Pay off your loan early with no fees
Eligibility Requirements
VA loan eligibility is based on your service history. Generally, you qualify if you have served 90 consecutive days during wartime, 181 days during peacetime, or 6 years in the National Guard or Reserves. Surviving spouses of veterans who died in service or from a service-connected disability may also be eligible.
To verify eligibility, you'll need a Certificate of Eligibility (COE) from the VA. Most lenders can obtain this for you electronically through the VA's automated system. The COE confirms your entitlement amount, which determines how much the VA will guarantee.
VA Funding Fee
Instead of mortgage insurance, VA loans require a one-time funding fee that ranges from 1.25% to 3.3% of the loan amount. The exact fee depends on your down payment, service category, and whether it's your first VA loan. This fee can be financed into the loan.
Veterans receiving VA disability compensation, Purple Heart recipients on active duty, and surviving spouses receiving Dependency and Indemnity Compensation (DIC) are exempt from the funding fee entirely. This exemption makes VA loans even more affordable for disabled veterans.
Georgia Military Installations
Georgia is home to several major military installations, making it one of the largest military communities in the Southeast. Fort Eisenhower (formerly Fort Gordon) near Augusta serves as the U.S. Army Cyber Center of Excellence. Fort Stewart and Hunter Army Airfield near Savannah and Hinesville host the 3rd Infantry Division. Robins Air Force Base in Warner Robins is a major Air Force logistics center.
Additionally, Kings Bay Naval Submarine Base on the coast, Moody Air Force Base in Valdosta, and the Marine Corps Logistics Base in Albany all contribute to Georgia's strong military presence. Veterans and active-duty personnel at all these installations can use their VA benefit to purchase homes in their communities with zero down payment.
VA Loans and Georgia Dream
Georgia veterans can combine VA loans with the Georgia Dream Homeownership Program. While VA loans already offer zero down, Georgia Dream assistance can be used for closing costs, prepaid items, or to buy down the interest rate. This combination maximizes savings for Georgia's veteran home buyers.