Eligibility & COE (Certificate of Eligibility)

Start by confirming service eligibility and pulling your Certificate of Eligibility (COE). Your COE verifies entitlement and may show a funding-fee exemption (for example, qualifying disability). We’ll help you request it online or retrieve it through our lender portal. Certain surviving spouses may be eligible. Once your COE is set, we’ll map your search to VA-friendly neighborhoods across Middle Tennessee.

Pre-Approval (Docs & Underwriting Basics)

A full pre-approval lets you shop with confidence. Lenders verify income, assets, obligations, and credit; calculate debt-to-income (DTI) and required residual income (by region & family size); and review documents (DD-214/LES, W-2s/1099s, paystubs, bank statements). With full entitlement there are no VA loan limits—your max is what you qualify for. Most eligible borrowers can use $0 down and there’s no monthly PMI, improving buying power. We’ll set timeline, rate-lock strategy, and keep your file on track for “clear to close.”

Payments, VA Funding Fee & Typical Costs

VA loans often allow zero down, but plan for normal closing costs and the one-time VA funding fee (varies by first vs. subsequent use, down payment, and loan type; some borrowers are exempt). We’ll build payment estimates for your target areas, show how taxes/insurance change the monthly, and compare keeping cash for appraisal gaps or repairs. Sellers can cover allowable closing costs and offer additional concessions up to 4% (certain items only). We’ll structure offers to leverage these where appropriate.

Property, Inspection & VA Appraisal (MPRs)

The VA’s Minimum Property Requirements (MPRs) focus on safe, sound, sanitary housing. The VA appraisal confirms value and obvious issues but isn’t a home inspection—so we still advise a full inspection. If value comes in short, the VA process allows Tidewater and ROV (Reconsideration of Value) to supply additional comps. We’ll target homes likely to pass MPRs and negotiate repairs or credits when needed.

Offers, Contracts & Closing

We’ll write a VA-friendly offer, confirm your intent to occupy as a primary residence after closing, and coordinate appraisal, title, and underwriting. We’ll watch contingency timelines, order required reports (e.g., termite/well/septic where applicable), and prep you for closing disclosures and wire instructions. If you’re selling, we market to VA buyers, prepare for appraisal, discuss assumption inquiries, and help you navigate to a smooth close.

Refi, Assumptions & Using VA Again

Already have a VA loan? Consider the streamlined IRRRL (Interest Rate Reduction Refinance Loan) for rate/term changes with simplified docs, or a cash-out refi if appropriate. Many VA loans are assumable with approval—helpful for buyers capturing lower legacy rates. After selling, we’ll plan entitlement restoration so you can reuse your benefit on the next home.

Next steps: 1) Start VA pre-approval · 2) Search VA-eligible homes · 3) Call or text us to plan your timeline.
Start VA Pre-Approval Search VA-Eligible Homes

FAQs

Do VA loans really offer $0 down?

For most eligible borrowers with sufficient entitlement, no down payment is allowed. You’ll still plan for closing costs and, unless exempt, the one-time funding fee.

What credit score do I need?

The VA doesn’t set a minimum score; lenders set their own overlays. We’ll match you with a VA lender that fits your profile and help strengthen your file before locking.

Can I buy a fixer?

Possibly. Homes must meet MPRs. We’ll target properties likely to pass VA appraisal and negotiate repairs/credits where needed. Certain rehab scenarios may require different loan structures.

Are VA loans assumable?

Many VA loans are assumable with lender/servicer approval. If you’re selling, assumption can attract buyers; if you’re buying, it can preserve a lower legacy rate. We’ll guide you through steps and entitlement impacts.

Equal Housing Opportunity. Loans offered through approved lenders; not a commitment to lend. Not affiliated with or endorsed by any government agency (including the U.S. Department of Veterans Affairs).
Contact: Jeffrey Liles — Realtor® & VA Loan Pro (NMLS #2759251) · TN Real Estate License #342268 · NRDS #780001766 · (615) 504-4753 · smashvillerealtor@gmail.com

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