Start with your VA loan benefit
The VA loan is one of the strongest benefits of service. It's backed by the Department of Veterans Affairs, which lets lenders offer terms that are hard to match elsewhere:
- No down payment required
- No monthly private mortgage insurance
- Available to veterans, active-duty service members and surviving spouses who meet VA service rules
- Can be used more than once over your career
The VA Funding Fee
Most VA loans carry a one-time VA Funding Fee, which helps fund the program. It can usually be paid at closing or added to the loan. Some borrowers are exempt, for example many veterans who receive VA disability compensation. Your Certificate of Eligibility, or COE, shows whether you're exempt. The fee isn't a lender charge, so it isn't covered by ZERO Closing Costs.
Plan around PCS orders
A permanent change of station can arrive on short notice, so timing matters. If you're moving to a new duty station, you can often start the process with your orders in hand, before you arrive. Ask about:
- How far ahead you can apply and close
- Whether you'll need someone to sign for you with a power of attorney if you're deployed or away
- How long it takes to close in your new area, so it lines up with your report date
- Temporary lodging options if closing and move-in don't match
Buy a home that works after you move
Many military families keep a home and rent it out after their next PCS. If that could be you, look for a home that would rent well: a good school district, an easy commute to the installation, and a layout that suits families. Run the numbers on rent, a property manager and repairs before you buy, so the home isn't a burden later.
How lenders count military pay
Lenders look at your full income picture, which can include base pay and certain allowances listed on your Leave and Earnings Statement. Your loan consultant will confirm what can be counted and what documents you'll need, such as recent LES statements and your orders.
Steps to get started
- Request your Certificate of Eligibility, or let your lender request it.
- Get pre-approved so you know your budget before house hunting.
- Find an agent who understands military moves and the local market.
- Line up your timeline with your PCS or separation date.
Working with CapCenter
CapCenter offers VA purchase loans with ZERO Closing Costs, plus VA refinance options like the VA IRRRL and VA cash-out refinance. Restrictions apply; see our Offer details.
