Skip nav to main content.

VA Home Buying Process for Veterans

American Flag with VA LOAN blocks.

One of the benefits of serving our country is access to a VA home loan. It’s a powerful way for veterans and active service members to buy a home with favorable loan terms and lower interest rates than conventional loans.  

If you’re thinking about buying a home with a VA-backed loan, here’s what to expect: 

Step 1: Determine Your Eligibility 

To get started, you’ll need to confirm your eligibility and obtain a Certificate of Eligibility (COE) from the Department of Veteran Affairs. This certificate verifies that you meet the service requirements for a VA-backed loan. 

You may qualify for a COE if you: 

  • Served a minimum period of active-duty service. 
  • Were discharged under honorable conditions. 
  • Are a current or former member of the National Guard or Reserves who meets service requirements. 
  • Are a surviving spouse of a Veteran who died in service or from a service-connected disability. 

You can request your COE through the VA online, or by mail. 

Step 2: Find a Lender That Works for You 

Once you have your COE, you can start looking for a lender who participates in the VA home loan program.  

At Central One Federal Credit Union, we’re proud to offer VA home financing and re-financing options designed for veterans and military families in mind.  

Benefits include: 

  • 0% down payment 
  • No PMI required 
  • No prepayment penalty 
  • Use all benefits including remaining benefits from a previous loan 

As an added thank you, veterans and active military members using a non-VA loan receive a $500 credit toward closing costs on new and refinanced home loans. 

Step 3: Get Pre-Approved 

Before you start house hunting, it’s a good idea to get pre-approved. Pre-approval helps you understand what you can comfortably afford and gives you confidence when making offers. 

To get pre-approved, you’ll need to provide your lender with a few key documents: 

  • A valid form of Identification (such as a driver’s license, passport, or Social Security Card) 
  • Proof of income (recent paystubs or W-2’s) 
  • Details about your assets (bank statements or investment accounts) 
  • Information on your debts or monthly obligations  

Getting pre-approved from Central One is easy. Just call our Member Support Center at 800-527-1017, or set up a virtual appointment here: Book a Virtual Appointment – Central One Federal Credit Union 

Step 4: Find a Home 

With your pre-approval in hand, you can start the exciting part – finding your home!  

We recommend working with a real estate agent who understands VA loan requirements to make the process smooth and stress-free. 

We recommend working with a real estate agent who understands VA loan requirements to make the process smooth and stress-free. The VA has certain standards for home conditions, including safety, structural integrity, and livability, which your inspector will verify once your offer is accepted. 

Step 5: Make an Offer 

When you find the right home, your real estate agent will help you make an offer and include any contingencies, such as an inspection or appraisal. Finally, once the offer is accepted and closing is complete, you’re officially a homeowner! 

Things to consider:  

VA-backed mortgages come with appealing features like no downpayments or mortgage insurance. There is, however, a one-time VA Funding Fee that veterans, service members, or survivors have to pay unless you meet certain requirements. You can pay the full amount of the fee at closing or tack the funding fee onto the loan and pay it off over time.  

For more information on VA Funding Fees, rate charts, or exemptions visit: VA Funding Fee And Loan Closing Costs | Veterans Affairs 

Test Modal

Modal Content

Ea rerum vel molestiae omnis molestias. Et ut officiis aliquam earum et cum deleniti. Rerum temporibus ex cumque doloribus voluptatem alias.

Open Account

Not a Member, Yet?

Open Your First Account

Already a Member?

Request Additional Account

 

Check your application status

Ice Cream Day Dates

Check back for 2026 dates and times

 

Food Truck Dates

Check back for the 2026 dates and times

 

Adjustable Rate Mortgages

  • The 15/5 Adjustable Rate Mortgage offers a fixed APR of for the first 15 years then adjusts to a new rate every 5 years.

    Term: Available for terms up to 40 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies, or we will not be able to process your application. Payments do not include taxes and insurance. 

    Begin the Application Process Check Rates

  • The 15/5 Adjustable Rate Mortgage offers a fixed APR of for the first 15 years then adjusts to a new rate every 5 years.

    Term: Available for terms up to 40 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Payments do not include taxes and insurance. 

     

    Begin the Application Process Check Rates

  • The 10/5 Adjustable Rate Mortgage offers a fixed APR of for the first 10 years then adjusts to a new rate every 5 years.

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Payments do not include taxes and insurance. 

     

    Begin the Application Process Check Rates

  • The 10/5 Adjustable Rate Mortgage offers a fixed APR of for the first 10 years then adjusts to a new rate every 5 years.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30-year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies, or we will not be able to process your application.

     

    Begin the Application Process Check Rates

  • The 5/1 Adjustable Rate Mortgage offers a fixed APR of for the first 5 years then adjusts to a new rate every 1 year.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30-year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.

     

    Begin the Application Process Check Rates

  • The 5/1 Adjustable Rate Mortgage offers a fixed APR of for the first 5 years then adjusts to a new rate every 1 year.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies, or we will not be able to process your application.

     

    Begin the Application Process Check Rates

  • The 3/3 Adjustable Rate Mortgage offers a fixed APR of for the first 3 years then adjusts to a new rate every 3 years.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.

     

    Begin the Application Process Check Rates

  • The 3/3 Adjustable Rate Mortgage offers a fixed APR of for the first 3 years then adjusts to a new rate every 3 years.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.

     

    Begin the Application Process Check Rates

  • The 1/1 Adjustable Rate Mortgage offers a fixed APR of for the first 1 year then adjusts to a new rate every 1 year.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30-year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.

     

    Begin the Application Process Check Rates

  • The 1/1 Adjustable Rate Mortgage offers a fixed APR of for the first 1 year then adjusts to a new rate every 1 year.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.

     

    Begin the Application Process Check Rates

Order Checks for your Home Equity Line of Credit (HELOC)

You can order checks through this link Order Checks or by calling 800-355-8123. You will need to input your account number and the Central One routing number (211387169). As a security precaution, you will not be able to change the address on the checks and all orders will be sent to the address of record on the account.

Leaving Our Website

You are leaving our website and linking to an alternative website not operated by us. We do not endorse or guarantee the products, information, or recommendations provided by third-party vendors or third-party linked sites.

Log in to Online Banking

Branch lobbies, drive-ups, and the Member Support Center will close at 4:00 PM on Tuesday, 2/3, for a staff meeting.