No. Except for the Native American Direct Loan, VA does not make home loans. Private lenders such as banks, credit unions and mortgage companies make the loan, and VA guarantees part of it. That guarantee is why lenders can offer no down payment and no monthly mortgage insurance.

Not always, but often. If you have full entitlement and the price is not higher than the appraised value, VA does not require a down payment. You may still choose to put money down to lower your funding fee and your monthly payment, and you will need a down payment on a large loan if you only have partial entitlement.

Not if you have full entitlement. VA limits only matter when part of your entitlement is tied up in another loan or a past loss. For 2026, the county limits VA uses start at the FHFA baseline of $832,750 for a one-unit home and go up to $1,249,125 in high-cost areas.

VA does not set a minimum credit score. Each lender sets its own, and many look for scores somewhere in the 500s or 600s. If one lender turns you down, another lender may still approve you.

For a first-time purchase with less than 5% down it is 2.15% of the loan amount, and 3.3% if you have used a VA loan before. It drops to 1.5% with 5% down and 1.25% with 10% down. An IRRRL is 0.5%, and Veterans who receive VA disability compensation do not pay it at all.

Yes. The benefit can be used again and again. Once you sell and pay off a VA loan, your entitlement can be restored, and in some cases you can even have two VA loans at the same time if you have enough remaining entitlement.