Oregon VA Loans. Done right, the first time.

Q: How do I know if I'm eligible for a VA loan?

Eligibility requires: (a) qualifying military service (active duty 90+ days during wartime, 181+ days during peacetime, or 6+ years National Guard/Reserve); (b) honorable or general-under-honorable discharge; (c) sufficient remaining entitlement. The Certificate of Eligibility (COE) is the official confirmation — Mike can pull it from the VA in 24-48 hours. Full eligibility guide →

Q: Can I use a VA loan more than once?

Yes. VA entitlement is restorable. If you've paid off a prior VA loan, the entitlement comes back. If you have an active VA loan and want a second simultaneous one (common for active-duty members who relocate but want to keep the original home as a rental), partial entitlement applies — Mike will walk through the math.

Q: Do I need a 20% down payment?

No — that's the conventional loan rule, not the VA rule. With VA, $0 down is the standard for borrowers with full entitlement. Some buyers put 5-10% down anyway to lower their monthly payment, reduce their funding fee, or shape the monthly payment differently. Mike will model both scenarios for you.

Q: What's a VA funding fee and is it waived for me?

The VA funding fee is a one-time fee (1.25%-3.30% of loan amount depending on down payment and whether it's your first VA use) that goes to the VA to keep the program self-funding. The funding fee is waived entirely for borrowers with a 10% or higher VA disability rating. That's a $5K-$15K savings on a typical Oregon purchase.

Q: Can I use a VA loan to buy a second home or investment property?

No. VA loans require the property to be your primary residence (which you must occupy within 60 days of closing). The exception is multi-unit properties (2-4 units) where you live in one unit and rent the others — that's still a primary residence in VA's eyes. For investment properties, conventional or Debt Service Coverage Ratio (DSCR) loans apply.

Program figures verified July 2026 — details change; confirm your scenario with us.

By Mike Certo, NMLS #260555 — Updated July 2026

Mike Certo · Cornerstone First Mortgage · NMLS #260555 · Updated May 23, 2026

Oregon-licensed VA loan specialist. Relocating to Oregon or moving up in the Portland metro? A disabled Veteran claiming Oregon's property tax exemption? Weighing the ORVET state loan against a federal VA loan? We do this every day. Direct line: (480) 296-6513.

Get pre-approved Talk to Mike first

What makes a VA loan different

A VA loan isn't some exotic product. It's an ordinary 30-year fixed (or 15-year, or ARM) mortgage on your Portland or Bend home, with the U.S. Department of Veterans Affairs standing behind a quarter of the balance for the lender. That backing is what unlocks the features Oregon Veterans actually buy the loan for:

$0 down payment For borrowers with full entitlement
No PMI (private mortgage insurance) — the VA guarantee replaces it
Competitive interest rates Relative to conventional 30-year financing
Lenient credit standards: most lenders accept 580+ FICO; some go lower
No prepayment penalty
Never expires: eligibility earned through service lasts a lifetime; plenty of Oregon closings are first-time uses by long-retired Veterans
Assumable: a qualified buyer can take over your VA loan at the original rate (huge value when rates rise)
VA funding fee: a one-time charge (1.25% to 3.30% of the loan, by down payment and use) paid to the VA. Waived outright for Veterans rated 10%+ disabled, which covers a large share of Oregon buyers.

The trade for those perks is a few VA-only requirements:

Certificate of Eligibility (COE): your proof of the benefit, which Mike pulls from the VA in about a day for most Oregon files.
Minimum Property Requirements (MPR): VA appraisers flag health and safety issues, and in Oregon that often means aging roofs on older Salem and Roseburg housing stock, wood-stove and chimney clearances, failing septic on rural acreage, and peeling paint on pre-1978 homes. Base pages carry the local detail.
Residual income guideline: the VA's after-the-bills check on top of DTI, and the Western-region residual figure is what your Eugene or Medford file is measured against. Most Oregon families clear it easily; for stretch buyers it's the backstop.

Full eligibility breakdown →

What's new in 2026

Three things changed in 2026 that affect every Oregon VA buyer:

1. Oregon disabled-Veteran property tax exemption

Oregon exempts a fixed amount of your home's assessed value (not a flat tax credit): $32,512 for a service-connected disability and $27,092 for a non-service-connected disability for the 2026-27 tax year. You need a 40% or higher disability certification, Oregon residency, and an owner-occupied home; file by April 1. An unremarried surviving spouse or partner qualifies. Full pillar with application instructions →

2. The ORVET state loan vs the federal VA loan

Oregon is one of only a few states with its own Veteran home loan, the ODVA / ORVET Oregon Veteran Home Loan: separate from the federal VA Home Loan. It is owner-occupied, primarily purchase (a limited rate-and-term refinance exists at 80% max financing, no cash-out), has no funding fee, and is usable up to four times over your lifetime. We compare ORVET against a federal VA loan and show you which is cheaper for your situation.

3. 2026 VA conforming limit: $832,750 statewide

Normal VA loans follow conventional limits: $832,750 in 2026 across all of Oregon, which has no high-cost counties (Portland/Multnomah, Eugene/Lane, and Bend/Deschutes are all baseline). A Veteran with full entitlement can finance a higher-priced home with $0 down using a VA jumbo; we handle VA jumbo above the limit for full-entitlement borrowers. Full loan limits guide →

What we do

We handle the full VA loan menu across the Oregon market:

Purchase loans: for active-duty, retired, Guard, and surviving-spouse buyers, with $0 down standard and the funding fee waived at a 10%+ disability rating.
VA jumbo: above the $832,750 Oregon conforming limit for full-entitlement borrowers, which is where Lake Oswego, the Portland west hills, and parts of Bend land.
IRRRL (Interest Rate Reduction Refinance): the VA streamline refi, with no income docs and no appraisal on most Oregon files, and no funding fee for disability-waiver Veterans. A tidy way to restructure a VA loan or shed PMI on a non-VA one.
Cash-out refi: pull equity for debt, home projects, or cash, which a lot of Willamette Valley owners have on hand after several strong appreciation years.
Funding fee waivers: Waived at closing for Veterans receiving VA disability compensation. If your rating comes through after closing, a refund is processed by the VA and your servicer — start at va.gov.
Surviving spouse loans: Full VA benefits available to qualifying surviving spouses. We know the eligibility paths.

For non-VA borrowers (military spouses without VA eligibility, civilian buyers), we also handle conventional and FHA loans through Cornerstone's full product menu.

Pick your base

Not tied to a base? Most Oregon Veterans aren't — retired or choosing Oregon on its merits, see the retiring-Veteran guide.

Portland Air National Guard Base

The 142nd Wing of the Oregon Air National Guard, at Portland International Airport. Most members draw BAH when activated and buy across the Portland metro.

Buyers look at Portland, Beaverton, Hillsboro, Gresham, and Vancouver across the river.

Oregon Army National Guard

Statewide Oregon Army National Guard, with Camp Rilea (Warrenton) as the main training center and units across the state.

Guard families buy in Salem, the Willamette Valley, and the coast.

Coast Guard — Sector Columbia River

U.S. Coast Guard along the Columbia River and Oregon coast (Astoria, Warrenton, and beyond).

Buyers look at Astoria, Warrenton, and the North Coast.

Kingsley Field Air National Guard Base (173rd Fighter Wing) in Klamath Falls is Oregon's main flying mission; we serve buyers there and statewide.

Tools

Portland BAH calculator: Pick your base, pick your rank, see what your 2026 Portland BAH actually covers (including OR summer utility reality).
VA Loan Limits 2026: the $832,750 Oregon baseline, why no county is high-cost, and where VA jumbo takes over.
Disabled Veteran Property Tax Exemption: the $32,512 / $27,092 assessed-value exemption with Oregon county assessor filing steps.
Eligibility Guide: the COE process for Oregon Guard and separated Veterans, surviving-spouse rules, and entitlement restoration.

How we work

A few things that should be true of working with any loan officer, and aren't always:

Direct line, real human. Call (480) 296-6513 in business hours and Mike picks up; after hours it rolls to his cell. Your Oregon file isn't handed to a call center or a rotating queue of reps.
No pressure, no script, no monthly check-in calls. Mike won't pitch you products you didn't ask about and won't sell your contact information to anyone. After your Salem or Hillsboro loan closes, he's here when a refinance genuinely helps — not before.
Straight answers. Oregon VA pricing moves daily, so Mike gives you the real costs and tradeoffs rather than a "starting at" teaser. If a competing Oregon quote is truly better, he'll tell you to take it.
Documented. Every call on your file gets a paper trail. If something odd surfaces in underwriting, you'll know exactly what it is and how Mike is clearing it.

Frequently asked questions

How do I know if I'm eligible for a VA loan?

Three things: qualifying service (90+ active-duty days in wartime, 181+ in peacetime, or 6+ years in the Oregon National Guard or Reserve), an honorable or general-under-honorable discharge, and enough remaining entitlement for your Portland or Eugene price point. The Certificate of Eligibility (COE) is the official proof, and Mike pulls most Oregon ones from the VA in about a day. Full eligibility guide →

Can I use a VA loan more than once?

Yes, and Oregon entitlement is restorable. Pay off a prior VA loan and the entitlement returns in full. Keep a first home as a Willamette Valley rental and buy again on a reassignment, and partial entitlement covers the second loan — Mike runs that math with you before you write an offer.

Do I need a 20% down payment?

No — that 20% figure is a conventional rule, not a VA one. For full-entitlement Oregon buyers, $0 down is the norm. Some put 5-10% down anyway to trim the funding fee or shrink the balance on a higher-priced Bend or Lake Oswego home, and Mike models both so you can see the difference.

What's a VA funding fee and is it waived for me?

The VA funding fee is a one-time charge (1.25%-3.30% of the loan, set by your down payment and whether it's a first VA use) that keeps the program self-funding. It's waived entirely at a 10% or higher VA disability rating. On a mid-priced Salem or Gresham purchase that waiver is often $5K-$15K back in your pocket.

Can I use a VA loan to buy a second home or investment property?

No. The VA loan is for your primary residence, and you have to move in within 60 days of closing on your Oregon home. The one wrinkle: a 2-4 unit property where you live in one unit and rent the rest still counts as primary in the VA's eyes, which some Portland-metro buyers use to offset the payment. For a pure rental in Bend or on the coast, a conventional or DSCR loan is the tool.

Are there military bases in Oregon?

No major active-duty bases — Oregon's military footprint is Guard, Reserve, and Coast Guard: Kingsley Field ANGB in Klamath Falls, the Portland Air National Guard Base, Camp Rilea near Astoria, and Coast Guard Sector Columbia River. That shapes who buys here: most Oregon VA borrowers are separated Veterans, Guard members, and retirees relocating in — not PCS moves. Installation guides →

What is the VA loan limit in Oregon for 2026?

With full entitlement there is no VA loan limit — county numbers only apply with reduced entitlement. For reference, the 2026 conforming limit is $832,750 in every Oregon county; no Oregon county is high-cost. Full loan limits guide →

Talk to Mike

If you've read this far, you already know whether Mike's your guy for an Oregon VA loan. The next step is a free 30-minute call, with no pressure, no script, and no follow-up sales cycle afterward.

Bring your orders (if you're relocating to Kingsley Field or the Portland Guard), your latest LES or pay stub, and whatever's on your mind about a neighborhood, the ORVET-vs-VA question, or the path forward. Mike walks through the actual Oregon numbers with you.

(480) 296-6513 · mcerto@cfmtg.com · NMLS #260555

Cornerstone First Mortgage NMLS #173855 · Equal Housing Lender. This site is educational and not a commitment to lend. Loans subject to buyer and property qualification.

Tax, legal, and property assessment information on this site (including disabled-Veteran property tax exemption coverage and county application notes) is provided for general information purposes only. Mike Certo is a mortgage loan originator, not a tax professional or attorney. Consult a licensed Oregon CPA, enrolled agent, or attorney for tax or legal advice specific to your situation. All cited statutes, agency forms, and program rules are linked to original sources for verification.