VA loans in the Carolinas: $0 down, no PMI, built for the people who served

The Carolinas run one of the largest VA markets in the country, with Fort Bragg, Camp Lejeune, Fort Jackson, Shaw AFB, Parris Island, and Cherry Point all here. The rules that change your payment, including the funding fee, the disability exemption, and property tax relief, differ on each side of the state line.

North Carolina recorded 33,429 VA loans totaling $11.57 billion and South Carolina recorded 18,061 VA loans totaling $6.39 billion in the 2025 VA Lender Volume Report table published by Veterans United (data updated October 8, 2025; counts include purchases and refinances).

Who qualifies for a VA loan in NC or SC?

Veterans, active-duty service members, National Guard and Reserve members, and eligible surviving spouses qualify if they meet the VA’s service requirements and have entitlement available. Geography doesn’t change eligibility: the same COE works in Charlotte, Fayetteville, Columbia, or Charleston.

• Active duty: at least 90 continuous days.
• Veterans who served since August 2, 1990: generally 24 continuous months, or the full period called to active duty (at least 90 days). Earlier eras have different minimums, and a discharge for a service-connected disability can qualify with less.
• Guard and Reserve: 6 creditable years, or at least 90 days of qualifying active-duty service.
• Surviving spouses: generally those eligible for or receiving certain Dependency and Indemnity Compensation.

The one document that proves it

Your Certificate of Eligibility is the document lenders use to confirm your benefit. A loan officer can usually request it electronically, and it shows how much entitlement you have left, including after a prior VA loan.

Credit: the honest version

The VA sets no minimum credit score. Lenders set their own, commonly from 580 to 640 with 620 a frequent benchmark, and residual income and your last 12 months of payments can weigh as heavily as the score.

What does a VA loan actually cost?

A VA loan costs three things: your interest rate, normal closing costs, and a one-time VA funding fee, which is 2.15% of the loan on a first-use purchase with less than 5% down. There is no monthly PMI, which is where VA beats FHA and low-down-payment conventional loans over time.

VA funding fee chart effective April 7, 2023.

The fee is usually financed into the loan, so it doesn’t come out of pocket, but it does raise the balance. You are exempt if you receive VA compensation for a service-connected disability, are eligible for that compensation but receive retirement or active-duty pay instead, are a surviving spouse receiving Dependency and Indemnity Compensation, have a qualifying pre-discharge rating issued before closing, or are on active duty and show evidence of a Purple Heart on or before closing.

The four VA loans, in plain English

Purchase, $0 down. Buy a primary home with no down payment and no PMI. You can reuse the benefit as entitlement restores, so it isn’t once in a lifetime.

IRRRL, the streamline refinance. If you already have a VA loan, this refinance reduces paperwork and carries a 0.50% funding fee. It often needs no appraisal, and it must show a net tangible benefit.

Cash-out refinance. Refinance up to 100% of value in many cases, subject to lender limits, to consolidate debt or fund a renovation. It’s available even if your current loan isn’t VA.

Assumptions and jumbo. A VA loan can often be assumed by a qualified buyer, which is a real advantage when your existing rate is low. With full entitlement the VA sets no loan limit, so higher-priced homes in Charlotte, Charleston, and on the coast can still qualify for $0 down, subject to lender approval.

How it works: COE to keys

The process runs in four steps, from a quick eligibility check to closing. Many VA purchases take about 30 to 45 days once under contract, though timing varies by file and isn’t guaranteed.

1. Eligibility check and COE. Confirm your service and request your COE. There’s no application or credit pull to start.
2. Pre-approval. Income, assets, and residual income are reviewed up front, so your offer carries weight in competitive markets.
3. Shop with BAH and taxes in the math. Price the payment with county taxes, insurance, and any NC or SC disabled-veteran relief before you write an offer.
4. VA appraisal and closing. An appraiser assigned through the VA reviews the home, and getting your documents in early keeps paperwork from setting the pace.

North Carolina vs. South Carolina

Your VA eligibility is the same in both states, but property tax relief for disabled veterans is not. South Carolina’s exemption is generally larger for veterans who qualify.

North Carolina. Veterans with a 100% permanent and total service-connected disability, or who receive specially adapted housing benefits, can exclude the first $45,000 of appraised value of a permanent residence from property tax. The application is due to your county tax office by June 1. See VA loans in North Carolina.

South Carolina. Veterans who are totally and permanently disabled from a service-connected disability may apply to exempt their home from property tax. On a $350,000 home that can be worth thousands of dollars a year, so it belongs in the payment conversation before you shop. See VA loans in South Carolina.