If you’ve served in the military and are planning to buy a home in Las Vegas, a VA loan could be one of the most valuable benefits you’ve earned. VA loans are government-backed, require no down payment, and are designed to help veterans and active-duty service members become homeowners.
At Drennen Home Loans, we’re proud to support our local veterans with VA loan expertise tailored to the Las Vegas market. Here’s everything you need to know.
What Is a VA Loan?
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs. It allows eligible veterans, active-duty military personnel, and certain surviving spouses to purchase or refinance a home with favorable terms.
Key Benefits of VA Loans:
- $0 down payment required
- No private mortgage insurance (PMI)
- Competitive interest rates
- Easier credit qualifications
- Limited closing costs
- Flexible refinance options (IRRRL, cash-out)
Who Is Eligible for a VA Loan?
You may be eligible if you are:
- An active-duty service member (after 90 days of continuous service)
- A veteran with an honorable discharge and appropriate service length
- A National Guard or Reservist with at least 6 years of service
- A surviving spouse of a service member who died in the line of duty or from a service-connected disability
Tip: You’ll need a Certificate of Eligibility (COE) — we can help you obtain it during your loan application process.
VA Loans Are Built for Las Vegas Buyers
Las Vegas is home to Nellis Air Force Base, many retired military families, and a large community of veterans. VA loans are often the ideal solution for buyers in this market, especially with rising home prices.
Why VA loans make sense here:
- You don’t need to save for a 10–20% down payment
- You can qualify with flexible credit requirements
- You’ll avoid PMI, keeping monthly payments lower
- You can buy in VA-approved condo communities or single-family homes
What Types of Homes Can You Buy With a VA Loan?
VA loans can be used to purchase:
- Single-family homes
- Condos (in VA-approved developments)
- Multi-unit properties (up to 4 units, if you live in one)
- Manufactured homes (with restrictions)
- New construction (with VA-approved builder)
They can also be used for refinancing an existing mortgage or making energy-efficient upgrades.
How Does the VA Loan Process Work?
The VA loan process is very similar to other home loans — but with some added protections for you.
Step-by-step:
- Apply with a VA-approved lender (like Drennen Home Loans)
- Provide your COE and financial documents
- Get pre-approved to determine your budget
- Shop for a home and make an offer
- Order your VA appraisal (includes safety/condition check)
- Finalize the loan and close
VA Appraisal Requirements (What to Know)
The VA appraisal looks at value and livability. Your home must meet the VA’s Minimum Property Requirements (MPRs), which ensure the home is safe, structurally sound, and sanitary.
Typical MPR checks include:
- Working plumbing and electrical
- Functional HVAC
- No pest or termite issues
- Sound roofing
- Safe stairways and exits
If issues are found, sellers can often make repairs prior to closing.
VA Loan Limits and Down Payments
While there used to be loan limits tied to down payment requirements, VA-eligible borrowers with full entitlement can now borrow above county loan limits with no down payment (as long as income and credit qualify).
In Las Vegas (Clark County), this means:
- You can buy homes above $766,550 without a down payment if you qualify financially
- No PMI even on higher-priced homes
VA Loan Refinance Options
If you already have a VA loan, you may qualify for a streamlined refinance through the Interest Rate Reduction Refinance Loan (IRRRL) program.
Benefits include:
- No appraisal or income verification required
- Lower closing costs
- Quick closing process
- Great for lowering your interest rate or monthly payment
You can also explore a VA Cash-Out Refinance to access home equity for renovations, debt consolidation, or other expenses.
Frequently Asked Questions About VA Loans
Can I use my VA loan benefit more than once?
Yes — you can reuse your benefit, even multiple times, as long as your previous entitlement is restored.
Is there mortgage insurance with VA loans?
No. VA loans have a one-time VA funding fee, but no ongoing PMI.
Can I buy an investment property with a VA loan?
No — the home must be your primary residence. However, you can purchase a multi-unit property and rent out the additional units if you live in one.
What if I’ve had a foreclosure or bankruptcy?
VA loans offer flexible guidelines and shorter waiting periods than conventional loans.
Why Work With Drennen Home Loans for Your VA Loan
We specialize in VA loans and are proud to serve the Las Vegas military and veteran community.
- Fast pre-approvals with no pressure
- In-house support to help you gather documents and stay on track
- Help with your COE and paperwork
- Local knowledge of VA-friendly communities and appraisals
- Personal attention every step of the way
Let Us Help You Use the VA Loan You Earned
Your service should be rewarded — and we’re here to make the process easy, respectful, and efficient. Whether you’re buying your first home or refinancing your current one, we’ll help you make the most of your VA loan benefit.
