VA Loans for Single Homebuyers: How to Qualify and Navigate the Process

Homeownership isn’t just for married couples and families. In fact, single homebuyers account for a large portion of home sales annually. Between July 2023 and June 2024 alone, 20% of homebuyers were single women and another 8% were single men according to a National Association of Realtors® report, which equates to more than a quarter of all U.S. home purchases annually.

If you’re a single service member or Veteran thinking about buying a home, your VA loan benefit can be a powerful tool. Here's what to know as you get started.

Why VA Loans Are a Great Option for Single Homebuyers

While VA loans are a good option for many homebuyers in general, they can be especially impactful for those purchasing a home on their own. Here’s why:

• No down payment is required. You don’t need to save up thousands of dollars to get started, and it can help you become a homeowner sooner without draining your savings.
• There’s no mortgage insurance. Unlike FHA and conventional loans, VA loans don’t require mortgage insurance. That means lower monthly payments and fewer upfront costs.
• Competitive interest rates. VA loans offer some of the lowest interest rates around, typically saving you money compared to conventional and even FHA loans.
• Flexible credit and income guidelines. Lenders will consider your full financial picture, such as your residual income and debt-to-income ratio, when evaluating your application. This can make it easier for single homebuyers to qualify.
• Eligible for multi-unit properties. You’re not limited to single-family homes. You can use a VA loan to purchase a property with up to four units, as long as you live in one of them. The rental income from the other units can even help offset your costs.
• VA loans are assumable. If you decide to sell your home down the line, a qualified buyer might be able to assume your VA loan. That can make your property more appealing especially if your interest rate is lower than what’s available at the time.

These benefits don’t just open the door to homeownership, they can make the entire journey feel more within reach, even if you’re going it alone. But before you start browsing listings or dreaming about paint colors, it’s important to know what kind of home fits your budget.

How to Qualify for a VA Loan as a Single Person

Buying a home on your own can feel like a big step, but it doesn’t have to feel overwhelming. The VA loan process is designed to be accessible, and qualifying solo is more straightforward than many first-time buyers expect.

Here are the steps to help you move forward with clarity and confidence.

1. Build Your Financial Profile Before Applying

When you buy a home as a couple, you have the benefit of using two potential incomes and credit scores on your application. If you’re purchasing a home solo, you’ll have just the one financial profile, making it extra important you brush up your finances before diving in.

To ensure you’ll qualify for your loan, you’ll want to have:

• A healthy debt-to-income (DTI) ratio, typically 41% or lower (though some lenders will allow for DTIs well above that benchmark).
• Leftover residual income after paying your monthly bills (the exact amount will vary by family size and location).
• A credit score of at least 620, though higher scores may qualify you for a lower interest rate and better loan terms.

It’s normal to feel a little pressure when applying solo, but VA loans are built to be flexible. There’s no set income minimum, and many lenders take a full-picture approach when reviewing your finances. With a little preparation, qualifying on your own can be more doable than you think.

2. Get Preapproved and Know Your Budget

Once your finances are in good shape, the next step is to get preapproved for your VA loan. This typically requires a short application so a lender can review your credit, income and other financial details. The lender will then let you know how much you can potentially borrow, giving you a good idea of what price range you should be shopping in.

But preapproval does more than guide your price range. It shows sellers you’re serious and ready to move, which can give you an edge in competitive markets. Knowing where you stand upfront brings peace of mind and positions you to make stronger offers when the right home comes along.

3. Find a Home That Meets VA Loan Guidelines

Once you know how much you qualify for, you can start shopping for a home. As you explore your options, be sure to consider the full cost of homeownership. Things like property taxes, homeowners insurance and maintenance can all affect your monthly expenses.

You should also keep the VA Minimum Property Requirements (MPRs) in mind when shopping for a house. If the home you’re eyeing won’t meet these safety standards, a VA lender won’t approve your loan.

If you need help finding homes that are likely to meet VA requirements, our affiliate realty network, Veterans United Realty, can connect you with a VA-savvy real estate agent who understands the ins and outs of the process.

4. Use Seller Concessions to Lower Out-of-Pocket Costs

While VA loans don’t require a down payment, there are still some upfront costs to prepare for. You’ll want to budget for things like closing costs, inspections, moving expenses and the VA Funding Fee, which helps keep the benefit running for future Veterans.

To cover these, you might think about negotiating seller concessions. The VA program allows sellers to offer up to 4% of the sales price in seller concessions. Sellers may be more willing to do this in a buyer’s market, where there are many homes for sale and few buyers shopping. Your real estate agent can help you judge whether concessions are a likelihood in your area and try to negotiate them on your behalf.

Buyers who pay the funding fee can finance it into the loan. Veterans receiving compensation for a service-connected disability, Purple Heart recipients and select others don’t pay it at all.

5. Be Prepared for the VA Appraisal and Underwriting Process

Once you’ve found a house you like and have put in an offer, your lender will have a VA-approved appraiser conduct a VA appraisal on the property to assess its value and to ensure it meets standards.

If the home passes the appraisal, your loan moves to the underwriting process. This is where the lender finishes verifying key information about your finances and the property to make sure everything aligns with VA and their own internal guidelines.

There’s not much you can do at this point in the process except be responsive to your loan officer. Answer any questions they have in a timely manner and provide any documentation they request quickly. Failing to do so could delay your loan closing.

Take the Next Step Toward Homeownership With a VA Loan

Buying a home on your own is a big milestone, but you don’t have to navigate it alone. With the VA home loan benefit on your side and the right support team behind you, the path to homeownership can be more straightforward and attainable than you might expect.

If you’re starting to explore the idea of buying a home solo, this is a great time to get your finances in shape, compare lenders and get familiar with how the VA loan process works. When you’re ready, our team is here to help you move forward with clarity and confidence.

Talk to a Veterans United VA loan expert at 855-870-8845 or get started online today to take the next step toward the home that’s waiting for you.