VA loan
A mortgage guaranteed by the Department of Veterans Affairs, available to eligible service members, veterans, and surviving spouses. Zero down payment required, no PMI, and competitive rates. Still requires full income documentation — self-employed veterans use the same 2-year tax return standard as conventional loans.
How does this affect your loan? Estimate self-employed qualifying income with the DTI calculator, or read the self-employed mortgage guide.
Related terms
- USDA loan — A mortgage backed by the U.S. Department of Agriculture for homes in eligible rural areas. Zero down payment,…
- Bank statement loan — A non-QM mortgage that qualifies borrowers on 12–24 months of bank deposits instead of tax returns. An expense…
- Non-QM loan — Any mortgage that doesn’t meet the CFPB’s Qualified Mortgage definition — usually because it uses alternative…
- P&L loan / P&L-only — A non-QM program that qualifies borrowers using a CPA-certified profit-and-loss statement instead of full tax…
- Asset depletion loan — A non-QM program that converts liquid assets into qualifying income using a formula: eligible assets ÷ loan te…
← Back to the full mortgage glossary
Sources
Educational definition only — not financial, legal, or tax advice. Programs and limits change; verify current terms with a licensed professional.