VA Loan at Truist Financial — Home Financing Built for Veterans and Military Families

The VA Loan offered through Truist Financial is a mortgage solution designed to honor the service of eligible veterans, active-duty service members, National Guard and Reserve members, and certain surviving spouses. Combining the advantages of the Department of Veterans Affairs loan program with Truist’s national lending platform and local service, this product aims to make homeownership more accessible, affordable, and sustainable for those who have served.

Key Advantages

• No down payment required: For many eligible borrowers, VA financing eliminates the need for a conventional down payment, reducing the initial cash required to buy a home.
• No private mortgage insurance (PMI): VA loans do not require PMI, which often results in lower monthly payments compared with conventional loans that have low down payments.
• Competitive interest rates: VA-backed mortgages typically offer interest rates that are competitive with or better than conventional alternatives due to the VA guarantee.
• Flexible credit considerations: Truist evaluates VA loan applicants with an understanding of military life and credit events commonly associated with service, offering flexible guidelines where appropriate.
• Assumability: VA loans are potentially assumable by qualified buyers, which can be an attractive feature when selling a home if interest rates have risen since the loan originated.

Who Is Eligible?

Eligibility for a VA Loan generally includes veterans, active-duty personnel, certain members of the National Guard and Reserve, and some surviving spouses. Truist assists applicants in verifying eligibility via the Department of Veterans Affairs Certificate of Eligibility (COE) and can guide borrowers through securing any necessary documentation.

Experienced Support from Truist

Truist combines national scale with local expertise to support VA borrowers through each stage of the homebuying process. Borrowers work with specialized loan officers familiar with VA requirements, appraisal standards, and closing procedures. Truist provides digital tools for application tracking, document submission, and communication so you can stay informed without sacrificing personal service.

Products and Options

• Purchase Loans: Financing for a new or existing home to be used as the primary residence.
• Rate-and-term Refinance: Refinance an existing mortgage to obtain a better rate or change loan terms.
• IRRRL (Interest Rate Reduction Refinance Loan): A streamlined VA refinance option for borrowers with an existing VA loan seeking a lower rate or more favorable terms, typically with reduced documentation and underwriting requirements.
• Cash-out Refinance: Convert home equity into cash for debt consolidation, home improvements, or other needs, subject to VA eligibility and underwriting.
• Renovation Financing: Options for purchasing and improving a property when repairs are needed, subject to program rules and VA appraisal standards.

Typical Application Process

1. Prequalification: Provide basic income, asset, and credit information to obtain a preliminary sense of borrowing capacity and monthly payments.
2. Obtain COE: Truist can assist in requesting the Certificate of Eligibility from the VA, which confirms entitlement to VA loan benefits.
3. Loan Application: Submit a formal application with required documentation including employment history, pay stubs, W-2s or 1099s, bank statements, and military service records.
4. Underwriting: Truist underwriters review income, credit, assets, and the property appraisal to determine final approval.
5. Closing: Once approved, documents are prepared for signing and the loan is closed. Truist provides guidance on closing costs and any applicable VA funding fees.

Documentation Commonly Required

While requirements vary by applicant, typical documents include a Certificate of Eligibility (COE), form DD-214 or current Leave and Earnings Statement (LES) for active-duty members, recent pay stubs, W-2s, 1099s if applicable, bank statements, and a government-issued ID. Truist loan officers will provide a precise checklist tailored to your situation.

Costs and Fees

VA loans include closing costs similar to other mortgage products. Additionally, most VA loans require a one-time VA funding fee, which helps offset program costs and may be financed into the loan amount. Certain veterans with service-related disabilities or their surviving spouses may be exempt from the funding fee. Truist will outline expected costs early in the process so borrowers can plan accordingly.

Property and Occupancy Requirements

VA loans are intended for primary residences; the borrower must certify intent to occupy the property. The VA also requires an appraisal to ensure the property meets Minimum Property Requirements for safety, soundness, and structural integrity. Truist guides borrowers through inspections, appraisal scheduling, and any necessary negotiations with sellers.

Why Choose a VA Loan Through Truist?

• Veteran-focused expertise: Truist loan officers have experience with VA underwriting and paperwork, helping minimize delays and surprises.
• Personalized guidance: Local support combined with digital tools makes the mortgage process efficient and transparent.
• Flexible options: Multiple VA-backed products, including purchase and refinance pathways, let borrowers tailor financing to their goals.
• Commitment to service: Truist emphasizes clear communication and results that reflect the needs of military families.

Important Considerations

A VA loan can be an excellent path to homeownership, but borrowers should evaluate their long-term plans, credit profile, and the condition of the market. Some properties may require repairs before VA approval, and income stability remains a core underwriting factor. Truist recommends discussing options with a VA loan specialist to understand how program features align with personal circumstances.

Next Steps

If you are eligible and considering a VA loan, begin by gathering your service documents and financial records. A conversation with a Truist VA loan officer will help you assess eligibility, compare loan options, and outline a plan to move forward confidently. Truist stands ready to support veterans and their families with the knowledge and tools needed to secure a home loan that fits their needs.