Veterans Day in Lancaster County: What a VA Loan Actually Buys You at Today’s Rates

Veterans Day in Lancaster County: What a VA Loan Actually Buys You at Today’s Rates

I’m Austin Curtiss, a Coldwell Banker realtor here in Lancaster County. Veterans Day is this Wednesday, November 11, and here in Lancaster County we mark it in a way that is worth knowing about, whether you served or not. In Ephrata, Mainspring of Ephrata’s Winters Leadership Memorial Committee continues its annual luminary tribute along the Winters Memorial Trail at Veterans Plaza, a tradition the committee began on Veterans Day in 2014. The luminaries honor veterans and the memorial itself honors Major Richard Winters of Ephrata and all who served.

I am not a veteran, and I will not pretend this post is about me. It is about a benefit that local veterans and service members have already earned, and that too many of them never run the numbers on: the VA home loan. With rates in the news again this week, here is what that benefit actually buys you in Lancaster County right now, in real dollars.

The Benefit, in Plain Terms

A VA loan is made by a private lender and guaranteed in part by the U.S. Department of Veterans Affairs. Eligible veterans, active duty service members, and certain surviving spouses can use it to buy a primary home. The headline terms, confirmed against VA guidance:

• No down payment. With full entitlement, you can buy with 0 percent down, as long as the price does not exceed the appraised value.
• No monthly mortgage insurance. There is no PMI on a VA loan, ever, at any down payment level. A conventional buyer with less than 20 percent down pays that charge every month.
• No VA loan limit with full entitlement. If your full entitlement is available, the VA sets no maximum loan amount. Your lender sizes the loan to your income, debts, and credit. If part of your entitlement is tied up in another VA loan, county limits apply, and the 2026 baseline limit is $832,750 in most counties.
• A one-time funding fee instead of monthly insurance. For a first use purchase with less than 5 percent down, the fee is 2.15 percent of the loan. It drops to 1.50 percent with 5 percent or more down and 1.25 percent with 10 percent or more down. On a second use with less than 5 percent down, it is 3.30 percent. The fee can be financed into the loan.
• Exemption if you receive VA disability compensation. Veterans receiving compensation for a service connected disability do not pay the funding fee at all. That exemption alone is worth thousands at closing, so confirm yours before anyone quotes you a fee.
• Seller concessions are capped, in your favor. Sellers can pay your normal closing costs, and other seller concessions are capped at 4 percent of the price, which gives a VA buyer real negotiating room on credits without blowing up the loan.

The VA does not set a minimum credit score, either. Individual lenders set their own, so a denial from one lender is not the VA saying no. It is one lender saying no.

The Math on a Median Lancaster County Home

Realtor.com puts Lancaster County’s median sold price at $380,000 for October 2026. Here is that home, bought three ways, using this week’s Freddie Mac average 30-year rate of 7.18 percent as an illustration. Your actual VA quote will come from your lender and is often different from the conventional average, so treat these as planning numbers, not a quote.

• VA loan, 0 percent down: a $380,000 loan runs about $2,574 a month in principal and interest, with no monthly mortgage insurance.
• VA loan, funding fee financed: the first use fee at 2.15 percent is $8,170. Financed into the loan, the balance is $388,170 and principal and interest runs about $2,630 a month. If you are exempt from the fee, you skip this entirely.
• Conventional loan, 10 percent down: you bring $38,000 down before closing costs, borrow $342,000, and principal and interest runs about $2,317 a month, plus monthly PMI until you reach 20 percent equity.

Read that honestly. The VA payment is higher, because the loan is bigger. What the VA loan buys you is the house itself, without waiting years to save a $38,000 down payment while prices and rates move. For a veteran household that can carry the payment, that trade is often the whole point of the benefit. And veterans are using it right now: the Mortgage Bankers Association reported the VA share of mortgage applications rose to 11.2 percent in the week ending October 30, 2026.

For Veteran Buyers: Your Three Steps This Week

1. Get your Certificate of Eligibility. Your lender can pull your COE electronically in most cases, or you can request it through the VA. It is the document that proves your entitlement, and it costs you nothing to have it in hand before you tour a single home.

2. Get quoted as a VA buyer, not a generic buyer. Ask a VA approved lender for your payment with the funding fee financed, your payment if you pay it at closing, and your payment if you are fee exempt. Those are three different houses on paper, and you deserve to see all three at this week’s rates.

3. Shop the homes that have been sitting. Lancaster County’s median time on market is 29 days, and homes past that mark are where a strong VA offer with seller paid closing costs inside the 4 percent concession cap can work for both sides.

For Sellers: Do Not Reflexively Say No to a VA Offer

Every Lancaster County seller will eventually see a VA offer, and some still wave it off on old stories. Here is the current, honest picture. A VA buyer brings a lender backed guarantee, often strong and stable income, and a benefit they have to qualify to use. The VA appraisal and minimum property requirements can add steps, and a home with obvious health and safety repairs outstanding may need those items handled before closing. That is a planning item, not a reason to reject a full price offer without reading it.

Judge the offer on its full terms, price, timeline, and the buyer’s lender, the same as any other offer. In a market where purchase applications nationally are running below last year’s pace, turning away an earned, qualified buyer on a stereotype is an expensive habit.

Frequently Asked Questions

Who is eligible for a VA home loan?

Veterans, active duty service members, members of the National Guard and Reserves who meet service requirements, and certain surviving spouses can be eligible. Your Certificate of Eligibility confirms your status and how much entitlement you have available. A VA approved lender can usually pull it for you.

How much is the VA funding fee in 2026?

For a purchase loan, the fee is 2.15 percent of the loan on first use with less than 5 percent down, 1.50 percent with 5 percent or more down, and 1.25 percent with 10 percent or more down. On subsequent use with less than 5 percent down, it is 3.30 percent. Veterans receiving VA disability compensation for a service connected disability are exempt and pay no fee.

Is there a VA loan limit in Lancaster County?

Not if you have full entitlement. With full entitlement available, the VA sets no loan limit and your lender qualifies you on income, debts, and credit. If part of your entitlement is already in use, county limits apply to the calculation, and the 2026 baseline conforming limit used by the VA is $832,750 in most counties.

Can a seller pay a VA buyer’s closing costs?

Yes. A seller can pay a VA buyer’s normal closing costs, and seller concessions beyond that are capped at 4 percent of the purchase price. That cap still leaves real room for a credit toward costs or a rate buydown when an offer is structured well.

What is happening in Lancaster County for Veterans Day 2026?

Veterans Day is Wednesday, November 11, 2026. In Ephrata, the Winters Leadership Memorial Committee hosts its annual luminary tribute along the Winters Memorial Trail at Veterans Plaza, a tradition dating to Veterans Day 2014, honoring Major Richard Winters and all veterans. It is a good evening to show up, say thank you in person, and remember that benefits like the VA loan exist because of the people those luminaries represent.

Let’s Talk About Your Numbers

If you served, this benefit is already yours. The only question is whether the numbers work on the home you actually want, at the rate you can actually get this week. Call or text me at (717) 406-7337 and we will run your VA numbers together, the fee, the payment, and the cash to close, before you tour or list anything. And to every veteran in Lancaster County, thank you for your service.

Sources: U.S. Department of Veterans Affairs, VA home loan eligibility, entitlement, and funding fee guidance, rates effective April 7, 2023 and checked November 2026. Freddie Mac Primary Mortgage Market Survey, released November 5, 2026. Mortgage Bankers Association Weekly Mortgage Applications Survey, week ending October 30, 2026. Realtor.com Lancaster County, PA market data, October 2026. Mainspring of Ephrata, Winters Leadership Memorial and annual Veterans Day luminary tribute.