Buying a home
VA loan
The strongest loan program in the country, and one that plenty of eligible Georgians never use. With Dobbins ARB and Fort Eisenhower in the state, we write a lot of these.
How the va loan works
A VA loan is guaranteed by the Department of Veterans Affairs. There is no down payment requirement, no monthly mortgage insurance, and the rate is typically lower than a comparable conventional loan.
A one-time funding fee replaces the ongoing insurance. It ranges with your down payment and whether this is your first use of the benefit, and it is waived entirely for veterans receiving compensation for a service-connected disability.
Your entitlement is not single-use. Many of our clients sell, restore their entitlement and buy again with zero down a second or third time. We will pull your Certificate of Eligibility for you.
What you get with us
Not program features. The things our office does on every file of this type.
Certificate of Eligibility pulled for you
We request the COE directly rather than asking you to chase paperwork.
Funding fee exemption check
We verify disability status so exempt borrowers are never charged the fee by mistake.
No monthly insurance
Nothing is added to your payment for insurance, at any down payment level.
Seller can pay all closing costs
VA allows the seller to cover every closing cost plus up to 4% in concessions.
Tidewater notification handled
If the appraisal is coming in low, we engage early with comparable sales rather than waiting for the report.
Entitlement restoration guidance
If you have used the benefit before, we calculate remaining entitlement before you shop.
Step by step
Six stages, and what each one actually asks of you.
Eligibility check
Send us your DD-214 or a current statement of service and we handle the rest.
Pre-approval
Issued with zero down modeled, plus a version with a small down payment so you can compare funding fees.
Offer written correctly
Your agent includes the VA escape clause and we coach on concession structure.
VA appraisal
Assigned through the VA portal. Timelines vary by county, and we track ours weekly.
Underwriting
Residual income is calculated alongside debt ratio, which often helps larger families qualify.
Closing
Sign at the attorney's office. Nothing is added to your payment for insurance, ever.
Why people choose it
Nothing down
Finance 100% of the purchase price within county limits.
No monthly insurance
Saves roughly $150 to $250 a month on a typical metro Atlanta purchase (sample figure).
Lower rates
VA pricing usually sits below comparable conventional pricing.
Reusable benefit
Restore entitlement after a sale and use it again.
What moves your pricing
Six levers underwriting actually looks at. Two of them you can change before you apply.
| Factor | How it affects you |
|---|---|
| Service history | Length and character of service determine eligibility. |
| Funding fee tier | First use versus subsequent use, and down payment size. |
| Disability rating | A compensable rating waives the funding fee. |
| Residual income | VA uses a regional residual income test in addition to debt ratio. |
| Entitlement used | A prior VA loan still open reduces available entitlement. |
| Occupancy | VA loans are for primary residences only. |
Programs people compare this with
- Conventional loanThe workhorse loan for buyers with steady income and reasonable credit. Down payments start at 3%.Compare
- FHA loanInsured by the Federal Housing Administration. Built for buyers whose credit is still recovering.Compare
- Rate and term refinanceReplace your current loan with a better rate, a shorter term, or both. No cash out.Compare
Questions about this program
You can put money down if you want to. A 5% down payment reduces the funding fee, so we always show you both versions and let you choose.
Yes, on properties up to four units, as long as you live in one of them. Rental income from the other units can sometimes help you qualify.
Usually yes. If the first home sold, your entitlement is restored. If you still own it, we calculate the remaining entitlement, which often still supports a purchase in this price range.
They do not have to, but they rarely refuse once we explain that the appraisal standards are close to FHA and the buyer is government-backed.
Magnolia Lending Group
Ready to look at a va loan?
A pre-approval takes about four minutes to start and one business day to issue. No cost and no obligation.
Free consultation. Sample rates and assistance amounts shown on this site are illustrations, not offers.