Fairway Home Mortgage is one of the nation's leading VA lenders. Trevor Higgins helps Charlotte-area veterans, active-duty service members, and eligible surviving spouses access their full VA benefit — with $0 down, no mortgage insurance, and rates typically lower than conventional loans.
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VA loan eligibility is based on your military service history. Here are the four groups who qualify.
Honorably discharged veterans who meet minimum service requirements qualify for full VA loan benefits.
Currently serving members of any branch of the U.S. military qualify with a statement of service.
Guard and Reserve members who meet service requirements now have full access to VA loan benefits.
Un-remarried surviving spouses of veterans who died in service or from a service-connected disability may be eligible for VA loan benefits. Spouses of service members listed as missing in action or prisoners of war also qualify. We can help you determine eligibility and obtain your Certificate of Eligibility.
The VA funding fee is a one-time fee that funds the VA loan program. It can be financed into your loan — you don't need to pay it out of pocket. Veterans with a 10%+ service-connected disability rating pay $0.
| Down Payment | First-Time Use | Subsequent Use |
|---|---|---|
| 0% (no down payment) | 2.15% | 3.30% |
| 5% or more | 1.50% | 1.50% |
| 10% or more | 1.25% | 1.25% |
| 10%+ disability rating | ⚡ EXEMPT — $0 Funding Fee | |
| Feature | VA Loan | Conventional Loan |
|---|---|---|
| Down payment | ✓ $0 required | 3–20% required |
| Mortgage insurance | ✓ None — ever | PMI required under 20% down (~$100–300/mo) |
| Interest rates | ✓ Typically 0.25–0.5% lower | Standard market rates |
| Credit score minimum | 620 (most lenders) | 620–640 minimum |
| Loan limits | ✓ No limit with full entitlement | Conforming limit $806,500 (2025) |
| Funding / insurance fee | VA funding fee (financeable · waived for disabled vets) | No upfront fee (PMI instead) |
| Prepayment penalty | ✓ None | Varies by lender |
| Property types | Primary residence only | Primary, second home, investment |
| Best for | Veterans and military who qualify — almost always the better financial choice | Non-military buyers or investment/second home purchases |
We pull your Certificate of Eligibility (COE) directly through the VA system — most take minutes. No paperwork chase on your end.
24-hour pre-approval once docs are in. We confirm your entitlement, review your credit and income, and issue a strong pre-approval letter.
VA requires a specific appraisal by a VA-approved appraiser. We order it immediately after contract and manage the process to keep things on schedule.
VA loans close in 30–45 days. Our 98% on-time closing rate and 7.2-day average early clear-to-close means your contract dates are protected.
★★★★★"Trying to purchase a home from over 2,000 miles and 2 time zones away is a challenge. Trevor and the team at Fairway are honest, respectful, and hardworking. I truly felt like Trevor had our best interests at heart every step of the way."
★★★★★"Trevor and his team are absolutely amazing to work with. The ongoing guidance, extreme organization of the loan process and clear communication from start to finish was greatly appreciated. 10 out of 10 experience!"
★★★★★"Trevor and his team were very responsive, prompt, and gave great advice. They made sure all the moving parts of getting my loan closed were moving along together at a good pace, and maintained great communication with my realtor as well."
Veterans with 90+ days wartime service or 181+ days peacetime service, active-duty members with 90+ continuous days, National Guard and Reserve members with 6+ years or 90 days active duty under Title 10, and eligible surviving spouses all qualify for VA home loans in Charlotte.
The VA funding fee is a one-time fee of 2.15% (first use, 0% down) that can be financed into your loan — no out of pocket payment required. Veterans with a 10% or higher service-connected disability rating are completely exempt. We verify your exemption status automatically during pre-approval.
Yes. Once you sell a home and pay off a VA loan your full entitlement is restored. You can also have two VA loans simultaneously using second-tier (bonus) entitlement if you have remaining eligibility. We run your entitlement calculations during pre-approval so you know exactly what you can borrow.
No. As of 2020, veterans with full entitlement have no VA loan limit — you can borrow as much as a lender will approve with $0 down. Loan limits only apply if you have reduced entitlement from an existing VA loan that hasn't been paid off.
VA loans typically close in 30–45 days from application — similar to conventional loans. The VA appraisal is the main additional step but we order it immediately after contract to minimize delays. Our team averages a clear-to-close 7.2 days before your contract date.
Yes. VA loans can be used anywhere in the Charlotte metro area including Fort Mill SC, Concord, Huntersville, Gastonia, Matthews, and beyond. Trevor Higgins is licensed in NC and SC and works with veterans across the entire Charlotte region.
VA loans are actually among the most accessible mortgage programs available — often easier to qualify for than conventional loans. There is no minimum credit score set by the VA itself, though most lenders including Fairway require 580–620. There is no down payment requirement, no PMI, and no maximum income limit. The key requirements are VA eligibility (service history), a Certificate of Eligibility (COE), sufficient income to cover the payment, and the property must be your primary residence. The funding fee is waived for veterans with a 10%+ disability rating, making it even more accessible.
The "$42,000 VA benefit" refers to the basic VA loan entitlement of $36,000, which is sometimes approximated to $42,000 in informal discussions. The VA's basic entitlement guarantees $36,000 — which equates to a $144,000 loan at 25% guaranty coverage. However, for today's home prices, veterans use bonus (second-tier) entitlement which ties to the county conforming loan limit ($832,750 in Charlotte for 2026). Veterans with full entitlement have no VA loan limit for zero-down financing. This is not cash given to veterans — it's the guarantee the VA provides to lenders on your behalf.
For a $200,000 home with a VA loan at approximately 6.2% (30-year), the principal and interest payment is roughly $1,225/month. Adding property taxes (~$150/month in Charlotte) and homeowners insurance (~$100/month), total PITI is approximately $1,475/month. With a 41% DTI guideline, you'd need approximately $3,600/month gross income ($43,200/year) with no other debts — higher if you have car payments, student loans, or other obligations. VA is flexible on DTI with strong residual income, so income requirements vary by file. Book a call and we'll run your exact numbers in minutes.
Dave Ramsey generally recommends 15-year mortgages with 20% down — a philosophy that conflicts with all zero-down loan programs including VA. His concern is that zero-down financing can leave buyers with little equity if home values drop. However, most military financial advisors and mortgage professionals strongly disagree when it comes to VA specifically: the VA loan offers no PMI (saving $200–300/month vs conventional with less than 20% down), competitive rates often lower than conventional, and no loan limit for full-entitlement veterans. For most eligible veterans and active-duty military in Charlotte, the VA loan is the strongest financial tool available for home purchase. The funding fee and zero-down structure are not inherent negatives — they are features that make homeownership accessible to those who earned the benefit.
Ready to check your VA eligibility? It takes 10 minutes.
Check My VA Eligibility →Free 15-minute call to verify your eligibility, pull your COE, and show you exactly what you qualify for — $0 down, no PMI.