Zero down payment, no PMI, and competitive rates — the mortgage benefit you earned through your service.
A VA home loan is a mortgage benefit earned through military service. Backed by the U.S. Department of Veterans Affairs, VA loans are originated by private lenders — like the wholesale partners Renegade Mortgage works with — and partially guaranteed by the VA. This guarantee allows lenders to offer terms that no other mortgage program can match: zero down payment, no private mortgage insurance, and interest rates that are consistently among the lowest available.
Montana is home to one of the highest per-capita veteran populations in the country. Whether you served in the Army, Navy, Air Force, Marines, Coast Guard, National Guard, or Reserves, your VA loan benefit is one of the most powerful financial tools available for purchasing a home. It can be used to buy a house in Billings, a cabin near Flathead Lake, or a property in any of Montana's communities — with no geographic restrictions within the state.
At Renegade Mortgage, we work with multiple VA-approved lenders to find the best rate and terms for your situation. Our team understands the nuances of VA lending — from obtaining your Certificate of Eligibility to navigating the VA appraisal process — and we are committed to making your home purchase as straightforward as possible.
VA loans offer 100% financing with no down payment required — one of the most significant advantages of any mortgage program available today.
Unlike FHA and conventional loans, VA mortgages do not require monthly PMI, saving you hundreds of dollars each month over the life of your loan.
VA loan rates are typically lower than conventional and FHA rates because the VA guarantee reduces lender risk. Even small rate differences add up to major savings.
Pay off your VA loan early without any penalties. Make extra payments, refinance, or sell your home at any time with no additional cost.
VA loans are assumable by qualified buyers, which can make your home more attractive to future purchasers — especially in a rising rate environment.
The VA limits what veterans can be charged in closing costs, and sellers can pay all of a buyer's loan-related closing costs plus up to 4% in concessions.
VA home loans are available to those who have served our country. Eligibility is based on your length and type of service:
Served at least 90 consecutive days of active service during wartime, or 181 days during peacetime
Currently serving with at least 90 continuous days of active duty
6 or more years of service in the Guard or Reserves, or 90 days of active duty under Title 10
Un-remarried spouses of veterans who died in service or from a service-connected disability
Before you can close on a VA loan, you need a Certificate of Eligibility (COE) — the document that proves to your lender that you qualify for the VA loan benefit. There are three ways to obtain your COE:
Renegade Mortgage can request your COE electronically through the VA's Web LGY system. In most cases, we can obtain it within minutes.
Apply online at eBenefits.va.gov using your DS Logon or ID.me account.
Submit VA Form 26-1880 along with your DD-214 or statement of service. Processing takes several weeks.
The VA funding fee is a one-time charge that helps sustain the VA loan program so future veterans can benefit. The fee varies based on your down payment amount and whether this is your first or subsequent use of the benefit. It can be financed into the loan.
| Loan Type | Funding Fee |
|---|---|
| First-Time Use — 0% Down | 2.15% |
| First-Time Use — 5%+ Down | 1.50% |
| First-Time Use — 10%+ Down | 1.25% |
| Subsequent Use — 0% Down | 3.30% |
| Subsequent Use — 5%+ Down | 1.50% |
Funding Fee Exemptions
The funding fee is waived entirely for veterans receiving VA disability compensation, Purple Heart recipients serving on active duty, and surviving spouses receiving Dependency and Indemnity Compensation (DIC). If you believe you qualify for an exemption, let us know and we will verify your status.
VA home loans are available to veterans, active-duty service members, National Guard and Reserve members with sufficient service, and eligible surviving spouses. Most veterans who served at least 90 days of active duty during wartime or 181 days during peacetime qualify. Guard and Reserve members generally need 6 years of service or 90 days of active duty under Title 10 orders.
Your Certificate of Eligibility can be obtained in several ways: your lender can request it electronically through the VA's Web LGY system (the fastest method), you can apply online through the VA's eBenefits portal, or you can submit VA Form 26-1880 by mail. Your COE confirms your VA entitlement and is required before loan closing. Renegade Mortgage can pull your COE on your behalf in most cases.
The VA funding fee is a one-time payment that helps sustain the VA loan program. It ranges from 1.25% to 3.30% of the loan amount depending on your down payment and whether this is your first VA loan. The fee can be rolled into the loan amount. Importantly, the funding fee is waived entirely for veterans receiving VA disability compensation, Purple Heart recipients on active duty, and surviving spouses receiving Dependency and Indemnity Compensation (DIC).
Yes, VA loans require that the home be your primary residence. You must move in within 60 days of closing in most cases. However, there are exceptions for active-duty members who are deployed or PCS'd, and for situations where a spouse can satisfy the occupancy requirement on behalf of the service member. VA loans cannot be used for investment properties or vacation homes.
VA entitlement is the dollar amount the VA guarantees on your loan. You have a basic entitlement of $36,000 and a bonus entitlement that varies by county. The important thing to know: VA entitlement is reusable. If you sell a home purchased with a VA loan and pay off the mortgage, your full entitlement is restored. In some cases, you can even have two VA loans simultaneously if you have remaining entitlement. There is no limit to how many times you can use your VA loan benefit over your lifetime.
Our team is experienced with VA loans and understands the unique needs of Montana's veteran community. Get pre-approved in minutes or call us to discuss your options — we are here to help you use the benefit you earned.