You qualify if you meet minimum service requirements: 90+ consecutive active duty days during wartime, 181+ days during peacetime, 6+ years in National Guard/Reserves, or as a spouse of a service member who died in service or from a service-connected disability.

Yes! Your VA loan benefit is reusable. After selling your home and paying off the VA loan, your full entitlement is restored. You can also buy a second home with remaining entitlement while keeping your first VA loan active.

The VA funding fee ranges from 1.25% to 3.3% of the loan amount. Veterans with a service-connected disability rating of 10% or higher are exempt. Purple Heart recipients and surviving spouses are also exempt.

Nevada VA loan limits for 2025: $806,500 in Clark County (Las Vegas, Henderson), $644,000 in Washoe County (Reno, Sparks), and $498,257 in most rural counties. With full entitlement, you can borrow above these limits with 25% down on the excess.

No! VA loans never require monthly mortgage insurance (PMI), which can save Nevada homeowners $200-400+ per month compared to FHA and conventional loans with less than 20% down. This is one of the biggest VA loan advantages.

Timeline: COE (instant to 5 days online), Pre-approval (24-48 hours), Home search (varies), Purchase contract to closing (30-45 days). Total timeline from starting your application to closing is typically 35-50 days.

The VA has no minimum credit score, but most lenders require 620+. Some Nevada VA lenders may approve scores as low as 580 with compensating factors like strong residual income, low DTI, or significant cash reserves.

Yes to multi-units (2-4 units, must owner-occupy). For fixer-uppers, the home must meet VA MPRs (minimum property requirements). Major repairs may disqualify the property unless you use a VA renovation loan. Multi-unit properties are excellent for house-hacking.

Get your COE instantly online through eBenefits or VA.gov, through your lender (we can pull it for you), or by mailing VA Form 26-1880. Most veterans receive instant online approval. You'll need your DD-214 or service verification.

Residual income is money left after all monthly obligations. VA requires minimum amounts based on family size and region (Nevada is West region). For example, a family of 4 in Nevada needs $1,117+ monthly residual income. This ensures you can afford living expenses beyond your mortgage.

Sellers cannot legally discriminate against VA buyers, but some worry about appraisal requirements or repairs. In Nevada's market, VA offers are highly competitive: 0% down, no PMI means strong buying power, and VA appraisals protect both parties. Educate your agent to advocate effectively.

Nevada VA closing costs: 2-5% of purchase price (appraisal, title, escrow, lender fees, prepaid taxes/insurance). VA limits buyer-paid fees, and sellers can contribute up to 4% toward your costs. You can also roll the funding fee into your loan.

VA IRRRL (Interest Rate Reduction Refinance Loan) lowers your rate/payment with minimal documentation and no appraisal. Cash-out refinance converts home equity to cash but requires appraisal and full underwriting. IRRRL is faster and cheaper; cash-out provides funds for debt payoff or improvements.

Yes, if you have remaining entitlement. Nevada veterans with full entitlement ($806,500 in Clark County) can use a second VA loan. You can also buy a second home if relocating for military orders. The second home must be owner-occupied unless specific exceptions apply.

No income limits! However, your income must be sufficient to cover the mortgage payment, maintain required residual income levels, and keep DTI below 41% (or 50% with compensating factors). Self-employed veterans and those with non-traditional income can qualify.

Yes! Refinancing from FHA to VA eliminates monthly mortgage insurance (MIP), potentially saves hundreds monthly, and may offer better rates. You'll need a VA COE, meet credit/income requirements, and have sufficient equity. Many Nevada veterans save $200-500/month by refinancing FHA to VA.

Options: (1) Renegotiate purchase price, (2) Pay difference in cash, (3) Request Reconsideration of Value (ROV) with comparable sales, (4) Walk away (if contract includes appraisal contingency). Many Nevada sellers will negotiate rather than lose the sale.

Yes, homeowners insurance is required and must be in place before closing. Nevada homeowners insurance averages $1,200-2,400/year. Shop multiple insurers for best rates. USAA and Navy Federal often offer competitive rates for veterans.

Yes, if the condo complex is VA-approved. Check the VA's condo approval database before making an offer. Your lender can also request approval for non-approved complexes. Many Las Vegas and Reno condos are VA-approved.

Immediately! Your VA loan eligibility begins as soon as you meet service requirements. You can apply for your COE and start the mortgage process right after discharge. Active duty members can also use VA loans while still serving.

VA guidelines suggest 41% maximum DTI, but lenders can approve up to 50%+ with strong compensating factors (high residual income, excellent credit, cash reserves, low housing ratio). Focus on residual income—VA's unique underwriting advantage.