Current VA guidelines, updated from one source.
A handful of figures and the tables behind them decide most VA files, and all of them are here, drawn from one guideline source built on VA’s published rules: the down payment with full entitlement, the absence of mortgage insurance, the funding fee by first or subsequent use, the ratio guideline, and the residual-income table for the region.
100% financing with full entitlement
The purchase leverage is 100% loan-to-value with full entitlement, which means 0% down on a home that appraises at the price; a price above the appraised value is paid in cash or renegotiated, and the guaranty covers the lender’s exposure.
No monthly premium, no upfront premium
No mortgage insurance, monthly or upfront, at any loan-to-value: the guaranty stands in for it. That is the single largest difference between a VA payment and an FHA or low-down-payment conventional payment on the same price.
First use; 3.3% after first use; exempt for many disabled veterans
2.15% of the loan on first use and 3.3% after, both lower with five or ten percent down; the fee can be rolled into the loan or paid at closing, and VA waives it for disabled veterans receiving compensation, surviving spouses receiving DIC, and active-duty Purple Heart recipients.
Residual income decides the file
VA’s debt-to-income guideline is 41%, but it is a guideline, not a ceiling: a file above it can be approved when residual income exceeds the regional table by a fifth or more, and a file under it can still fall short on residual income. The table below shows the figures for the South region.
| Loan type | Use | Down payment | Fee |
|---|---|---|---|
| Purchase or construction | First use | less than 5% down | 2.15% |
| Purchase or construction | First use | 5% to 9.99% down | 1.5% |
| Purchase or construction | First use | 10% or more down | 1.25% |
| Purchase or construction | After first use | less than 5% down | 3.3% |
| Purchase or construction | After first use | 5% to 9.99% down | 1.5% |
| Purchase or construction | After first use | 10% or more down | 1.25% |
| Cash-out refinance | First use | Any | 2.15% |
| Cash-out refinance | After first use | Any | 3.3% |
| IRRRL | Any | Any | 0.5% |
| Manufactured home (not permanently affixed) | Any | Any | 1% |
| Loan assumption | Any | Any | 0.5% |
| Vendee loan | Any | Any | 2.25% |
| Family size | Residual income |
|---|---|
| 1 | $441 |
| 2 | $738 |
| 3 | $889 |
| 4 | $1,003 |
| 5 | $1,039 |
| Each additional member, up to seven | + $80 |
Exempt from the funding fee: veterans receiving VA compensation for a service-connected disability, those eligible for it but receiving retirement or active-duty pay instead, surviving spouses receiving Dependency and Indemnity Compensation, service members with a pre-discharge claim rating, and active-duty service members who have received the Purple Heart. VA sets no minimum credit score; the wholesale programs behind these pages start at a 580 decision score and serve loan amounts up to $4,000,000, including loans above the conforming limit with full entitlement.
Refinances: cash-out to 100% loan-to-value after seasoning of 210 days and six payments with a net tangible benefit; rate-reduction refinances of an existing VA loan at a 0.5% fee without a VA appraisal. Current VA snapshot · updated October 1, 2026 · owner-occupied principal residences, one to four units · no VA loan limit with full entitlement · loans are assumable · no prepayment penalty · Lendmire is not affiliated with the Department of Veterans Affairs.
This page describes program parameters, not an offer. The leverage, the funding fee, the ratio guideline, and the residual-income table are VA guidelines and lender overlays, subject to change without notice and to full underwriting; the certificate, the appraisal, the credit report, and the property decide every file. Lendmire is a broker, not a lender, and is not affiliated with the Department of Veterans Affairs. Licensed in sixteen states for consumer mortgages. NMLS #2371349.
What a VA loan is — and how the file is qualified.
The difference between a VA loan and any other mortgage is who shares the risk. VA stands partly behind the lender, so the lender can lend the full value with no insurance premium and read the budget on residual income. Below, the four parts a Greenville buyer needs to understand.
For the program overview, see Lendmire’s VA loan program, or the statewide guide at VA Loans in North Carolina; to request a Certificate of Eligibility, see VA.gov.
The guaranty replaces the down payment
VA backs a quarter of the loan for a borrower with full entitlement, which gives the lender the same protection a sizable down payment would. That is why a Greenville purchase can close with nothing down and no mortgage insurance, and why there is no VA loan limit when entitlement is full: the backing scales with the loan.
Eligibility, entitlement, and the COE
Three questions settle eligibility on a Greenville file: the service history, the character of discharge, and whether entitlement is full or partly in use. The COE answers all three. Surviving spouses, National Guard and Reserve members, and veterans with an earlier VA loan each have their own path to the certificate.
The funding fee, and who is exempt
What the funding fee buys is the absence of mortgage insurance. On a Greenville purchase the fee is paid once, usually financed, while an FHA or conventional borrower at the same leverage pays a premium every month for years; the comparison usually favors VA unless the fee tier is high and the loan is short-lived, and an exempt veteran pays no fee at all.
Residual income over ratios
Residual income depends on where the home is and how many people live in it: the tables differ by region, and the figure rises with each family member. The snapshot shows the regional table for North Carolina, and the calculator estimates a rough residual from the income, the payment, and the debts you enter for a Greenville scenario.
A lender runs exactly this math on a Greenville file, with one refinement the page cannot make: underwriting also subtracts taxes, maintenance, and utilities before measuring residual income, so the rough residual here will read higher than the lender’s. The price, the fee tier, and the locked rate are the moving parts.
Where Greenville’s veterans and service members buy — and how VA fits.
The numbers below are Greenville’s, not any one borrower’s: owner households, median home value, and household income from the U.S. Census Bureau. They tell you the scale of a typical VA purchase here; the certificate, the appraisal, and the household’s own income tell you the loan.
These are context figures, not underwriting inputs. These are ranges, not predictions. The lender appraises one home, documents one income, and runs the residual-income test for one household of a specific size.
Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.
Distinct Greenville neighborhoods, distinct VA files.
Six Greenville submarkets, six versions of the same program: the cards below describe the housing stock, the price range, and the VA question that comes up most often in each.
Two-to-four-unit homes
The small multi-unit Greenville purchase is where VA’s leverage goes furthest: no down payment on two to four units, the buyer living in one, and the documented rent from the others helping the ratios and the residual income. Roughly 13,327 Greenville households own their homes on the latest Census estimate — 33% of all households, the pool a VA purchase joins.
Established close-in neighborhoods
Condition carries weight in Greenville’s established neighborhoods. The appraisal lists what VA wants fixed, the contract decides who fixes it, and the Notice of Value is issued once the value and the condition are settled. On a home at Greenville’s median value, a VA purchase with full entitlement needs no down payment at all — the funding fee on the full $233,500 is the program’s cost, and it can be financed.
Newer infill and recent construction
A newer Greenville home rarely produces repair findings; the file turns on entitlement and budget. Full entitlement covers the price with nothing down. With remaining entitlement, the conforming figure enters the math, and a down payment may be required. About 67% of Greenville’s households rent — roughly 27,456 renter households on the latest Census estimate.
Higher-value homes
An expensive Greenville purchase is a VA jumbo when entitlement is full: the guaranty scales with the loan, VA requires no down payment if the price does not exceed the appraised value, and the conventional jumbo comparison turns on the large down payment the conventional loan requires. Greenville is home to about 93K people.
Condominiums and townhomes
Close-in Greenville condominiums suit the benefit well: nothing down, no insurance line, and a project review that runs through VA’s approved-project list. The dues go into the residual-income math, and the appraisal covers the project along with the unit. The median owner-occupied home value in Greenville runs near $233,500 on the latest Census estimate.
Service members and the occupancy rule
Where Greenville sits near a base or a reserve center, VA files cluster in the neighborhoods service members choose, and the occupancy rule bends there in defined ways: a spouse can occupy for a member on orders, and a veteran may later rent the home out after living in it. Median household income in Greenville sits near $49,748 on the latest Census estimate.
Across all of Greenville, five questions settle a VA loan: what the appraiser finds, whether the property meets VA’s standards, whether the veteran will occupy it, what the certificate says about entitlement, and what residual income supports.
Four ways Greenville veterans put the VA benefit to work.
VA is more than a first-purchase program: it refinances, it takes cash out, it finances small multi-unit homes, it buys condominiums in approved projects, and it reaches above the conforming limit with full entitlement. The cards below take up the uses that bring Greenville veterans to it most often.
Buy a first home with nothing down
The most common Greenville VA file: a veteran with steady income and full entitlement buys at the appraised value with no down payment, finances the funding fee, and pays no mortgage insurance; the seller can cover closing costs, with VA’s cap applying to concessions beyond them.
Refinance an existing VA loan
An existing VA loan in Greenville can be refinanced on its own record: the IRRRL skips the appraisal and most of the documentation, carries the smallest funding fee in the program, and must leave the borrower better off under VA’s net tangible benefit rules.
Buy above the conforming limit
With full entitlement, the VA sets no loan limit, so a Greenville buyer can finance a home above the conforming limit with no down payment. A conventional jumbo loan would ask for a large one. The wholesale programs behind these pages serve loan amounts up to the ceiling shown in the snapshot on this page.
Take cash out of a home with equity
A VA cash-out refinance lets a Greenville owner borrow against equity up to the program’s full leverage, including the funding fee, after the seasoning period and with a net tangible benefit; it can also move an FHA or conventional loan into VA. A HELOC that leaves the first mortgage alone is the comparison worth running.
Estimate the VA payment on a Greenville price before requesting a quote.
This is what a nothing-down Greenville purchase costs each month: the funding fee for the use and down payment you choose, the total loan amortized at the benchmark rate, the escrows added, and the ratio and a rough residual income measured against VA’s guideline and table. Edit any field; the rate shown is the weekly Freddie Mac average and not a quote.
Greenville VA payment estimate
Price starts from a Greenville value, with no down payment; fields update as you type.
Editable benchmark: 7.28% as of October 1, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not a VA loan quote.
Illustrative starting assumptions: a $235,000 price near Greenville’s median owner-occupied home value, no down payment with full entitlement, a first-use funding fee financed into the loan, a thirty-year term at the current Freddie Mac benchmark, property taxes and insurance estimated for North Carolina (U.S. Census Bureau). Every field is editable.
Illustrative estimate only — not a Loan Estimate, approval, quote, or commitment to lend. The rate field carries the weekly Freddie Mac thirty-year conventional benchmark, a market reference and not a VA loan quote; your rate is set by the lender at lock. The funding fee follows VA’s published table for the use and down payment entered; the residual-income figure is VA’s guideline for the region and family size, and the rough residual shown subtracts only the housing payment and the debts entered, while VA also deducts taxes, maintenance and utilities. Taxes, insurance and dues are editable estimates; closing costs are not included. Licensed in sixteen states for consumer mortgages. Lendmire is not affiliated with or acting on behalf of the Department of Veterans Affairs.
Same veteran, three very different closings.
The alternatives put VA’s cost in perspective: FHA charges a premium every month, conventional charges one until equity arrives, VA charges a fee once. The comparison below is written for a Greenville buyer weighing all three.
VA, FHA, or conventional.
VA fits nearly every Greenville buyer who holds eligibility: the leverage is complete, there is no insurance line in the payment, and the fee is paid once. Partial entitlement, a property that fails VA’s standards, or a fee tier that outweighs a short hold are the cases where another program competes.
FHA asks for a small minimum investment, accepts a forgiving decision score, and charges an upfront premium plus an annual premium that lasts for the term at full leverage. For a Greenville buyer without VA eligibility it is the nearest substitute; with eligibility it is the costlier route. See Lendmire’s FHA loan program.
Conventional financing asks for a down payment and a higher score, in exchange for insurance that cancels and no funding fee. A Greenville veteran with a large down payment, where the funding fee falls to its lowest tier and conventional insurance falls away, should see both programs run on the same numbers. See Lendmire’s conventional loan program.
Which program fits best depends on the borrower’s numbers once eligibility is known. VA can come out ahead with a COE and full entitlement, conventional can for a veteran with twenty percent down and no fee exemption, and FHA is the fallback where the benefit is unavailable. The comparison is run on the actual numbers, in writing.
What to prepare for a Greenville scenario review.
The paperwork is the standard mortgage set with the service record on top; here is what a Greenville scenario review typically draws on.
This is a general preparation guide, not a universal checklist. The selected lender may request additional information based on the transaction, the property, entitlement, and the income picture. Nothing here is legal or tax advice.
Local details that can change the loan.
Check these before leaning on any number for Greenville: entitlement, the funding fee tier, the appraisal and VA’s property standards, the condominium approval, residual income, and occupancy.
Use these checks to keep the Greenville file clean and fundable.
Three things to settle before a Greenville review: what the certificate says about entitlement, which funding fee tier applies, and whether the property has any VA question attached.
- Confirm the entitlement: the COE states the entitlement available; full entitlement carries no loan limit.
- Know the fee: the tier follows first or subsequent use and the down payment, as the funding fee table above shows.
- Structure the contract: certain fees may not be charged to the veteran on a VA file.
Full or remaining entitlement
The COE states the entitlement available, and that single line decides whether a Greenville purchase closes with nothing down at any price the appraisal supports or needs a down payment on the part VA does not back. A veteran keeping an earlier VA-financed home as a rental is the usual remaining-entitlement case, and the file still works.
The funding fee tier and the exemptions
A subsequent use costs more than a first use, and five or ten percent down lowers either tier; the exemption removes the fee entirely. A Greenville veteran with a pending disability claim should raise it early, because a rating granted before closing waives the fee and one granted after can bring a refund.
Seller concessions and the fees a veteran may not pay
VA caps seller concessions as a share of the value: prepaid items, the funding fee, and payoff of a buyer’s debts count toward the cap, while ordinary closing costs the seller agrees to pay do not. A Greenville contract that uses the cap well can leave the buyer with little cash to close beyond the deposit already paid.
Residual income and the ratio guideline
The ratio VA names is a guideline and the residual-income table is the standard, which is why a thin budget can be declined under the ratio and a wide one approved above it. A Greenville family with child-care costs or support orders should count them early; both reduce residual income.
Occupancy and the reasonable-time rule
A VA loan finances a principal residence: the veteran certifies an intent to occupy within a reasonable time after closing, which VA generally reads as a couple of months. The usual Greenville exception is military life itself, where a spouse can occupy for a member on orders elsewhere.
From a Greenville Certificate of Eligibility to keys in hand.
Underneath, the Greenville process is any mortgage process; on top sit VA’s checks: the certificate, the property requirements, the project approval where it applies, and the residual-income test. Each step below says what happens and what the buyer does.
COE and pre-approval
A Greenville pre-approval is a sizing exercise: the certificate, the income, the family size, the funding fee tier, and the price. The loan officer confirms eligibility and entitlement against the program rules and puts the pre-approval in writing for the offer.
Contract and appraisal
With the contract signed, the lender requests a VA-assigned appraiser, who values the Greenville home and checks it against VA’s property requirements; the Notice of Value is issued on the report. Seller concessions are checked against VA’s cap, and any condominium project approval is confirmed.
Underwriting
An automated approval still runs the residual-income test; a manual file is read against the guideline and the table. Either way, the Greenville underwriter verifies the income, the assets, the credit history, and the property, and issues the approval with its conditions.
Closing
Closing is where the fee becomes real: financed into the total loan or paid at the table, with the seller’s concessions applied and the fees a veteran may not pay removed from the sheet. The Greenville buyer takes the keys and VA backs the lender.
A brokerage that puts the benefit to work.
The case for a brokerage on a VA loan is candor with numbers: VA beside conventional on the same inputs, the fee tier stated outright, the entitlement checked first, and the terms in writing.
Three programs, one set of numbers
Before any recommendation, VA, FHA, and conventional are run on the same Greenville price, income, and down payment. The buyer sees the payment, the insurance or fee line, and the cash to close for each, and the choice follows the figures.
The fee and the entitlement explained before the offer
The fee is the program’s cost and the entitlement is its reach, and Lendmire explains both first rather than last: how much the fee is, whether it is waived or refundable, and what the certificate supports for a Greenville buyer at the price in hand.
Licensed, consumer-purpose, in writing
Lendmire is licensed in sixteen states for consumer mortgages, each loan is a consumer-purpose transaction with the full set of disclosures, and every figure a Greenville buyer relies on, from the fee to the leverage to the final terms, comes in writing from a licensed loan officer.
Trusted by veterans & families alike.
Greenville VA loan FAQs
What a VA loan is, who is eligible, how the certificate works, what the funding fee costs, and how the loan limit works, answered for Greenville buyers.
What is a VA loan, and who is it for?
A VA loan is a mortgage from a private lender with a partial guaranty from the Department of Veterans Affairs: VA backs a share of the loan, and in exchange the program allows no down payment with full entitlement, no monthly mortgage insurance, a residual-income test, and a cap on the fees a veteran can be charged. It is for veterans, service members, National Guard and Reserve members, and eligible surviving spouses buying a principal residence in Greenville.
Who is eligible for a VA loan in Greenville?
Veterans and service members who meet VA’s minimum service requirements with a character of discharge VA accepts, National Guard and Reserve members with qualifying active service or six creditable years, and surviving spouses of service members who died in service or from a service-connected disability, or who are receiving Dependency and Indemnity Compensation. VA confirms it on the Certificate of Eligibility.
How do I get a Certificate of Eligibility?
Request it on VA.gov, ask the lender to pull it, or mail VA Form 26-1880. The supporting document depends on status: DD-214 for veterans, a statement of service for active duty, NGB Forms 22 and 23 for the Guard, a points statement for the Reserve, VA Form 26-1817 for surviving spouses.
What is the VA funding fee, and do I have to pay it?
The funding fee is a one-time charge VA collects to fund the guaranty, set as a share of the loan by first or subsequent use and by the down payment, as the snapshot ladder shows. It can be financed, paid at closing, or paid by the seller as a concession. Veterans receiving compensation for a service-connected disability, surviving spouses receiving DIC, Purple Heart recipients on active duty, and service members rated before discharge are exempt.
Is there a VA loan limit in Greenville?
VA removed the loan limit for veterans with full entitlement; the wholesale programs behind these pages serve loan amounts up to the ceiling in the snapshot. Only a Greenville buyer with entitlement still in use on another loan needs the county figure, and it is confirmed by a loan officer rather than quoted here.
What happens after my Greenville offer is accepted?
The lender requests a VA-assigned appraiser, checks the seller concessions against VA’s cap, confirms the condominium approval if there is one and the funding fee tier from the certificate, and underwrites the file with residual income documented. At closing the fee is financed, paid, or waived, and the escrows are set up. How long it takes depends on the appraisal, any repairs it calls for, and the conditions underwriting adds.
What credit score do I need for a VA loan?
VA leaves the credit standard to the lender, and the lender overlay in the snapshot is the floor behind these pages. The file is read as a whole: two years of clean housing payments carry more weight than an old event that has seasoned.
Can I buy a duplex or fourplex with a VA loan?
VA finances owner-occupied two- to four-unit homes. A Greenville buyer lives in one unit, the rent from the others counts as VA allows, and the residual-income test runs on the combined picture.
What is residual income, and why does it matter?
The dollars remaining after housing, debts, taxes, and upkeep, compared with a table by region and family size. It decides the close calls: a file above the ratio guideline can pass on strong residual income, and a file inside the guideline can fail on weak residual income.
Do I need a down payment for a VA loan?
Not with full entitlement when the home appraises at or above the price: the guaranty replaces the down payment and the lender finances the full value. A down payment becomes part of the file when entitlement is partial, when the price exceeds the appraised value, or when a buyer chooses one to lower the funding fee tier.
Run the Greenville VA numbers, then get the terms in writing.
When you are ready, a Greenville review sizes the loan, settles the program, and produces written terms. Nothing on this page commits anyone to lend.
This guide covers Greenville — for the statewide guidelines, markets, and scenarios, see VA Loans in North Carolina, part of Lendmire’s VA loan program.
Nearby markets in North Carolina: Rocky Mount · Goldsboro · Jacksonville · Emerald Isle · Wake Forest · Raleigh · Cary · Holly Springs
Related programs: Conventional Loans · FHA Loans · Jumbo Loans