Loan Goat is a veteran owned company. Our founder is a United States Marine Corps veteran, and the VA programs on our shelf are not a marketing line, they are the loans we wanted to be able to offer the people we served with. Here is what each one does, what we publish about it, and where it fits.
VA Elite home loans
The purchase and cash-out product, built for eligible veterans buying or refinancing the home they live in.
Our VA Elite program publishes fixed terms, LTV up to 100% and loans up to $4,000,000. The requirements are a FICO score of 640 or above, VA eligibility, a primary residence, property types of single family homes, condominiums and planned unit developments, and transaction types of purchase and cash-out.
Its published benefits are some of the lowest VA rates available, pricing designed for higher FICO scores, up to 100% LTV with no down payment, jumbo loan options up to $4M, escrow waivers available and temporary rate buydown options.
Two of those are worth pulling out. LTV up to 100% with no down payment is the feature that makes VA financing what it is, and it is the reason a veteran can buy without the years of saving a conventional down payment requires. And the jumbo option up to $4M matters in expensive markets like San Diego, where the price of an ordinary family home can exceed what a standard program will cover.
The FICO requirement of 640 or above reflects that this is the Elite tier, priced for stronger credit profiles.
VA IRRRL streamline refinance
The Interest Rate Reduction Refinance Loan, for borrowers who already hold a VA loan and want to improve it.
Our VA IRRRL program publishes fixed terms, LTV up to 100% and loans up to $4,000,000. The requirements are that you must have a VA loan, property types of primary, second or investment, single family homes, condominiums and planned unit developments, a rate and term refinance transaction, and minimal documentation verification.
Its published benefits are lowering your rate and monthly payment, a simple fast refinance process, no appraisal required in most cases, no income verification needed, unlimited LTV options and loans up to $4M available.
The point of an IRRRL is that it is deliberately light. No appraisal in most cases removes the valuation step that slows every other refinance. No income verification removes the documentation gathering. It is a rate and term refinance, meaning it improves the terms of an existing VA loan rather than pulling cash out.
Note the property types: primary, second or investment. Because the IRRRL refinances a VA loan you already hold, it can follow a property that is no longer your residence, which is a genuinely useful feature for veterans who have moved.
VA adjustable rate options
For borrowers whose plans are shorter than a thirty year commitment.
Our 3/1 and 5/1 ARM program publishes 3/1 and 5/1 ARM terms, LTV up to 100% and loans up to $4,000,000. The requirements are a FICO score of 580 or above for standard and 640 or above for Elite, a primary residence, purchase and refinance transactions, adjustment after 3 or 5 years, and rate buydowns not available.
Published benefits are the lowest possible initial payments, fixed rates for the first 3 or 5 years, suitability for short-term ownership, up to 100% LTV with no down payment, market-based adjustments after the fixed period and a fit for planned moves or refinances.
The trade is explicit in the name. The rate is fixed for three or five years and then adjusts with the market. That is a reasonable structure for someone who expects to move or refinance inside the fixed period, and a risk for someone who does not. Decide honestly which one you are.
The 580 standard FICO floor is also the lowest published credit requirement across these products, which matters for borrowers still rebuilding.
Which one fits
Buying the home you will live in, with strong credit: VA Elite.
Already hold a VA loan and want a better rate with minimum friction: the IRRRL.
Expect to move or refinance within a few years, or need the lowest published FICO floor: the ARM options.
Buying investment property: none of the above. VA purchase financing is for the home you live in, and investment property runs through our rental property program, which publishes 5, 7, 30 and 40 year fixed terms, LTV up to 80% and first time investors allowed, or our bridge program for short-term acquisition, which publishes rates from 9.00% to 13.00%, LTV up to 75% and terms of one or two years.
The purpose question
One boundary applies to every loan on a home. A consumer purpose loan is one whose proceeds go to personal, family or household use, and it carries the verified income requirements, disclosures and waiting periods written to protect homeowners. A business purpose loan is one whose proceeds fund business or investment.
The property does not decide the classification. The use of the money does, and being straight about it at the first call sets the program, the documents and the timeline. Our post on business purpose vs consumer purpose loans covers the test in full.
Where to start
The owner occupied program page carries the published terms for VA Elite and the IRRRL, the about page covers the company behind them, and our licensing is on the disclosures page: Loan Goat Inc., NMLS 1416824, branch NMLS 2554618.
If you are eligible and want a straight answer about which product fits, call (619) 617-2797 or start on the borrow page.
