Besides being eligible for a VA home loan, you must also meet the credit standards. This means you must be a satisfactory credit risk and have sufficient income to support the mortgage as well as your other obligations. After obtaining your Certificate of Eligibility from VA, present it to the mortgage lender when making your home loan application. VA does not establish interest rates. These are freely negotiable between veteran and lender.
Points are fees charged by lenders.
VA does not regulate discount points or mandate who pays them, with the exception that no more than 2 discount points may be included in the loan amount for an interest rate reduction refinancing. When shopping for a loan, compare loan costs including points, as well as interest rates. Before a home loan can be closed, an appraisal is generally required, but this is not the same as a home inspection. The appraisal is used to determine property value. The appraiser is not an inspector.