What Being Ready for a VA Loan Really Looks Like

Skipping the prep work is how folks end up overwhelmed, over budget, and wondering what they got themselves into.

So let’s slow it down and talk about what being ready for a VA loan really means — financially, mentally, and emotionally.

Check Your Credit Before a Lender Does

Here’s the deal: the VA doesn’t set a minimum credit score, but lenders do, and most want to see at least a 620. That’s why it's best to have understanding of where you're at, and to pull your credit report before they do. Visit AnnualCreditReport.com for free access to all three reports.

Look for:

• Accounts that aren’t yours

• Late or missed payments

• Credit cards that are maxed out or close to it

If it’s messy, don’t panic. You don’t need a perfect score — you just need a clear picture so you can make a plan.

No Down Payment Doesn’t Mean No Money Needed

We love the VA loan. But one of the biggest misunderstandings is that it’s a zero-cost path to homeownership. Even without a down payment, you’ll still need to cover:

• Closing costs

• VA funding fee (unless exempt)

• Moving and setup expenses (yes, even the five Target runs)

• Emergency fund for unexpected repairs or fixes

Start saving now! Even $20 per paycheck helps. It’s not just about having money... it’s about having options when things get real.

Buy What Fits Your Budget, Not Just What You’re Approved For

Just because you’re approved for a $300,000 home doesn’t mean you should buy one. Only you know your lifestyle, spending habits, and what it feels like to sleep well at night. A mortgage should fit your life — not stretch it thin. When calculating what you can afford, think beyond the mortgage:

• Property taxes

• Insurance

• Utilities

• Routine maintenance

Then ask yourself: Can I still breathe after paying all this?

Don’t Wait to Get Your COE

Your Certificate of Eligibility (COE) is required for a VA loan, and while it’s not hard to get, it can slow things down if you wait too long. This one simple task can save you a major headache later. You can request your COE:

• Online through the VA

• Through your lender (they can often pull it for you)

• Or by mailing VA Form 26-1880

Build Your VA Loan Dream Team

You’ve earned this benefit, but you still need the right people in your corner to make the most of it. Look for:

• A lender who listens, explains clearly, and respects your pace

• A real estate agent familiar with VA loans and appraisals (they are different)

• A friend or mentor who will keep it real when you need it most

Remember: you don’t owe it to anyone to use your VA loan before you’re ready. Not your lender. Not your agent. Not even your well-meaning uncle.

One Last Thing…

You don’t need to be perfect to buy a home, you just need a plan, clarity, and a support system that keeps it real.

Not sure where to start? Take the Veteran Saves Pledge and build your savings your way. You’ll get free, non-judgmental tips to help you prepare for whatever comes next — including homeownership.