VA Loan Solutions Built for Service Members and Veterans

A VA home loan is a powerful home loan benefit offered by the Department of Veterans Affairs to active duty service members, veterans, and surviving spouses. It allows qualified borrowers to purchase or refinance homes with favorable interest rates, no down payment, and no private mortgage insurance (PMI). To get started, you’ll need a Certificate of Eligibility (COE) that confirms your eligibility requirements are met.

We help residents of Bangor, Presque Isle, Brunswick, and across the state of Maine with their VA loans.

Yes, you can use your VA loan more than once. In fact, there’s no limit to how many times you can use a VA loan, as long as you continue meeting eligibility and entitlement guidelines. If you’ve previously used your VA benefits and sold the home or paid off the loan, your entitlement can often be restored.

Yes—VA loans are assumable, making them a major advantage when selling your home in a high interest rate market. Can anyone assume a VA loan? Not quite. Can a non-veteran assume a VA loan? Yes, but they must meet credit and income requirements, and VA must approve the assumption. How does a VA assumable loan work? The new buyer takes over the seller’s existing loan terms. How long does it take to assume a VA loan? Typically 45–60 days.

Yes—under certain circumstances, you can have two VA loans at the same time. This is common when a service member receives PCS orders and needs to relocate but hasn’t sold their first home. Each case depends on how much remaining entitlement you have and the loan amount needed for the new purchase.

Yes. The VA home loan program can be used for manufactured homes and mobile homes, but financing conditions can be more stringent. You’ll want to work with mortgage companies experienced in VA loan mobile home financing to ensure compliance with all HUD and VA standards.

Can you buy land with a VA loan? Yes, but only if it’s part of a purchase that includes a construction plan for a home. The VA One-Time Close Construction Loan is the best option for this. However, buying land by itself without plans to build is not allowed.

Generally, VA loans are for primary residences only. VA loan for investment property or VA loan for second home purposes is not typically allowed. However, exceptions may apply if you’ve already used your benefit once and meet residual entitlement requirements.

While the Department of Veterans Affairs doesn’t set a minimum, most lenders look for a VA home loan credit score 550 or higher. Even if your score is lower, your income, debt-to-income ratio, and other factors may allow for approval.

Do I need PMI with a VA loan? No—that’s one of the major perks. Instead, borrowers pay a one-time VA funding fee, which helps keep the program running. If you have a service-connected disability, you may be exempt from this fee.

VA borrowers have access to refinance loans like the Interest Rate Reduction Refinance Loan (IRRRL) for lowering payments and rates, or a cash-out refinance for accessing equity. VA loans personal loans are not part of the official program, but many veterans consolidate debt using VA-backed equity refinances instead.

The VA loan Statement of Service is a required document for active duty service members. It verifies your current status and eligibility for the VA loan program. Lenders use it alongside your COE to determine qualification.

Yes. Through the Native American Direct Loan (NADL) program, eligible Native American veterans can buy, build, or refinance homes on federal trust land. NADL loans come with reduced rates and fees, and no down payment.