VA Home Loans: Buy, Build, or Refinance with Confidence

VA home loans are one of the most powerful mortgage options available to eligible veterans, active-duty service members, and surviving spouses. Backed by the U.S. Department of Veterans Affairs, these loans allow qualified borrowers to buy, build, or refinance a home with no down payment, no monthly mortgage insurance, and highly competitive interest rates. Whether you’re purchasing your first home, constructing a new one with a VA One-Time Close loan, or exploring multi-unit investment properties, VA loans offer unmatched flexibility and affordability for military families nationwide.

Are You a Veteran or Active-Duty Service Member Looking to Buy a Home?

If so, you may qualify for one of the most powerful mortgage options available: the VA Home Loan.

Loans for Veterans and Active Duty Service Members

Homeownership is a key part of long-term financial stability. Whether you’re a first-time homebuyer, relocating due to PCS orders, or upgrading your home, VA loans provide unmatched benefits designed specifically for those who serve.

With 100% financing, no PMI, and flexible underwriting, VA loans remove common roadblocks—like large down payments or strict credit requirements. They work for suburban homes, rural builds, and everything in between.

At The Local Ledger, we specialize in helping veterans and military families navigate the VA loan process with clarity and confidence.
👉 If you’re buying in South Carolina, check out our local VA Loan Directory for county-by-county guidance.

What Is a VA Home Loan?

VA home loans were introduced in 1944 through the Servicemen’s Readjustment Act, designed to help WWII veterans transition into civilian life. Today, the program has supported more than 23 million veterans, service members, and spouses in purchasing or refinancing a home.

Rather than lending directly, the U.S. Department of Veterans Affairs guarantees a portion of the loan, allowing approved lenders to offer:

• 100% financing

• No monthly PMI

• Lower interest rates

• Flexible credit and income standards

This backing reduces lender risk and opens the door to homeownership for more military families.

Types of VA Home Loans

VA-Backed Purchase Loan

The most commonly used VA loan. With this, eligible borrowers can buy:

• Single-family homes

• VA-approved condos and townhomes

• Manufactured or modular homes

• 2–4 unit properties (as long as you occupy one)

Key Benefits:

• $0 down payment

• No PMI

• Lower closing costs

• Reduced interest rates

VA One-Time Close (OTC) Construction Loan

Planning to build a home? The VA OTC loan combines the land purchase, construction costs, and final mortgage into one simplified loan—with no payments due during the construction period.

You’ll close once, with interest-only payments deferred until the build is complete. Then your loan converts into a traditional VA mortgage.

Perfect for:

• Veterans wanting rural land or custom homes

• Avoiding dual closings and underwriting headaches

• Building in high-growth areas like the Carolinas and Florida

👉 Learn more about VA Construction Loans

VA Cash-Out Refinance Loan

This loan allows you to refinance your existing mortgage and access cash using your home’s equity. Use it for renovations, debt consolidation, education, or other big expenses.

Even if your current mortgage is not VA-backed, you may still be eligible.

VA Interest Rate Reduction Refinance Loan (IRRRL)

If you already have a VA loan, the IRRRL—also called a VA Streamline Refinance—lets you lower your interest rate or switch from an ARM to a fixed rate without new income or appraisal documentation.

Requirements:

• Your VA loan must be at least 210 days old

• You must have no recent late payments

IRRRLs are one of the fastest and lowest-cost ways to reduce your monthly payment.

Why Choose a VA Loan?

• ✅ No Down Payment – Finance up to 100% of the purchase price

• ✅ No Private Mortgage Insurance – Save hundreds monthly

• ✅ Competitive Interest Rates – Typically lower than conventional loans

• ✅ Flexible Credit Guidelines – Even with past challenges

• ✅ No Prepayment Penalty – Pay off early without fees

• ✅ Finance Up to 4 Units – As long as you live in one

Who Is Eligible for a VA Loan?

You may qualify if you meet one or more of these criteria:

• Served 90+ days active duty during wartime, or 181 days during peacetime

• Completed 6+ years in the National Guard or Reserves

• Are an unmarried surviving spouse of a veteran

• Received an honorable discharge from service

Not sure if you qualify? We can help you find out in minutes.

How to Get Your Certificate of Eligibility (COE)

To use your VA loan benefit, you’ll need a COE. This document confirms your eligibility to a lender and can be requested in several ways:

• Online at VA.gov

• By mail using VA Form 26-1880

• Or, let us retrieve it for you—we make it easy

Documents You’ll Need to Apply

After securing your COE, be ready to provide:

• Last 2 years of W-2s or tax returns

• Recent pay stubs or income verification

• Bank statements (checking, savings, reserves)

• Government-issued ID

• DD-214 (if applicable)

We’ll walk you through each step to keep the process stress-free.

Ready to Start?

VA loans are a smart, accessible, and flexible option—especially for those buying or building in states like South Carolina, where zero-down financing can stretch even further.

✅ Explore VA Loans by County in South Carolina
✅ Apply Now or call 843-640-1820 to speak with a licensed mortgage expert

The Local Ledger is not affiliated with or acting on behalf of or at the direction of the VA, FHA, USDA, or any federal government agency.