Five VA programs. One team that knows all five.
The VA guarantees five core home loan programs, made by private VA lender partners. We are a licensed mortgage broker — we shop all five for you and place your file where it fits best: purchase, IRRRL streamline refinance, cash-out refinance, renovation, and the Native American Direct Loan.
See how much you qualify for
No-obligation VA pre-qualification review.
What VA loan programs are available?
Simply Approved offers the full VA program family: the Purchase Loan with $0 down, the Renovation loan for repairs, the IRRRL for a fast rate-and-term refinance, Cash-Out refinance up to 90–100% LTV, and the Native American Direct Loan (NADL) for trust-land properties.
- Purchase: the standard $0-down VA loan for a primary residence
- Renovation: finance the purchase and repairs in one mortgage
- IRRRL: refinance an existing VA loan without an appraisal in most cases
- Cash-Out: access equity, VA-allowed up to 100% LTV, most lenders cap near 90%
- NADL: VA lends directly for homes on federal trust land
There's a VA program for buying, renovating, refinancing, and tapping equity — the right one depends on your goal, not your credit score alone.
Reviewed by the licensed mortgage team at Simply Approved Mortgages · Last verified August 31, 2026 against the VA Lenders Handbook (M26-7)
Find my programCompare every VA program
VA Purchase Loan
Zero down, no mortgage insurance, and a 1% cap on lender origination charges
Best for: Any eligible veteran or service member buying a primary residence — especially first-time buyers who would otherwise need a down payment and monthly mortgage insurance.
- $0 down payment with full entitlement
- No monthly mortgage insurance or PMI, ever
- No VA loan limit for borrowers with full entitlement
- Seller can pay up to 4% in concessions plus customary closing costs
VA IRRRL (Interest Rate Reduction Refinance Loan)
The VA streamline refinance for homeowners who already have a VA loan and want a lower rate or a fixed payment.
Best for: Veterans with an existing VA loan who want a lower rate or payment, or who want out of an adjustable-rate mortgage, without re-qualifying.
- The VA does not require a new appraisal or income verification on a standard IRRRL — some lenders still do
- Funding fee is just 0.50%, and exempt veterans still pay nothing
- Closing costs can be financed into the loan or covered by a lender credit
- Converts an ARM to a fixed rate even when the rate does not drop
VA Cash-Out Refinance
Convert home equity to cash — and refinance a non-VA loan into a VA loan
Best for: Veterans with equity who want to consolidate debt, fund a renovation, or convert a non-VA mortgage into a VA loan with no mortgage insurance.
- Up to 100% of appraised value permitted by the VA; most lenders allow 90%
- Refinances conventional, FHA, USDA or existing VA loans
- Type I (loan amount at or below payoff) and Type II (above payoff)
- No mortgage insurance on the new VA loan
VA Native American Direct Loan (NADL)
The VA lends directly — for homes on federal trust land
Best for: Native American veterans, and veterans married to a Native American, buying, building or improving a home on federal trust land.
- The VA is the direct lender, at a low fixed rate it sets itself
- $0 down payment and no monthly mortgage insurance
- Funding fee of only 1.25% on purchase, 0.50% on an NADL IRRRL
- Can be used to buy, build, improve, or refinance an existing NADL
VA Renovation Loan (Alteration & Repair)
Buy a home that needs work and finance the repairs in the same VA loan
Best for: Veterans buying a home that needs repairs to meet MPRs, or who want to update a property without a separate second loan.
- Purchase price plus eligible repair costs in one loan
- Still $0 down and no monthly mortgage insurance
- Repair funds escrowed and disbursed as work is inspected
- Brings a property into compliance with VA Minimum Property Requirements
Ready to see what you qualify for?
Start a VA pre-qualification with a licensed loan originator. Licensed in Colorado and Florida.