Loan program
VA
A benefit for eligible veterans, service members, and surviving spouses, often with no down payment and no monthly mortgage insurance.
Overview
What it is
A VA loan is guaranteed by the U.S. Department of Veterans Affairs. It is a benefit you earned through service, not a special Hancock product. Hancock’s job is to help eligible borrowers use that benefit correctly on a real purchase or refinance.
Many eligible borrowers can purchase a primary home with no down payment, subject to residual income, credit, and property rules. There is typically a VA funding fee unless you are exempt (for example, some borrowers with a service-connected disability rating).
There is no monthly mortgage insurance on a VA loan. That is one of the reasons VA can be a strong monthly payment compared with FHA or low-down-payment conventional options.
Who it may be good for
- Veterans, active-duty service members, and certain surviving spouses who can obtain a Certificate of Eligibility (COE).
- Eligible borrowers buying a primary residence, including some first-time and repeat buyers.
- Homeowners who may benefit from an Interest Rate Reduction Refinance Loan (IRRRL) or a cash-out refinance, only if the new loan actually improves the file.
How it works
- 01
Your loan officer helps you obtain or confirm a COE and remaining entitlement.
- 02
The property is typically a primary residence and must meet VA minimum property requirements.
- 03
The funding fee, if it applies, can often be financed. Exemption rules should be confirmed from VA records, not assumed.
Potential advantages
- No down payment in many eligible purchase scenarios.
- No monthly mortgage insurance.
- Competitive structure for borrowers who qualify, especially compared with low-down-payment loans that carry monthly MI.
Things to consider
- Eligibility is not automatic. Entitlement, occupancy, and residual income all matter.
- The funding fee (when not exempt) is a real cost, even if it is financed.
- VA appraisals can require repairs. That is protecting you as much as the lender.
- Hancock will not invent entitlement amounts or funding-fee percentages on this page. Those come from VA and your COE.
A benefit, used well
VA financing is earned through service. Hancock’s job is to use it correctly on a real house.
Common questions
Questions about VA loans
Often no, for eligible borrowers buying a primary home within entitlement. That is a VA benefit, not a Hancock guarantee. Your officer will confirm remaining entitlement and any lender overlays.
Ready when you are
The house is the point.
Whether you’re buying your first home, moving into your next one, refinancing, or exploring your options, we’re here to help you figure out the next step.