Are you VA-eligible and thinking about buying a home in Holly Springs? You’re not alone. Many military families choose this Wake County town for its suburban feel, amenities, and easy access to Raleigh and RTP. In this guide, you’ll learn how VA loans work, how to get your Certificate of Eligibility, what to expect from the funding fee and closing costs, and how to make a strong VA offer in our local market. Let’s dive in.

Who qualifies for a VA loan

VA loans are designed for eligible veterans, active duty service members, certain National Guard and Reserve members, and some surviving spouses. Your service history, discharge status, and length of service matter for eligibility. You can review the full criteria on the VA’s page for VA eligibility requirements.

If you’re brand new to mortgages, the Consumer Financial Protection Bureau has a clear overview of options for VA borrowers. It explains how VA loans compare to other loan types, interest rates, and fees in plain language. See the CFPB’s guide to mortgage basics for VA loans.

Entitlement and loan limits, explained

Your VA “entitlement” is the benefit that guarantees a portion of your loan to the lender. If you have full, unused entitlement, you can often buy with no down payment at any price point the lender approves. Lender underwriting, reserves, and your debt-to-income still apply.

If your entitlement is partial because of a prior VA loan, the rules change. In that case, conforming loan limits can affect whether a down payment is needed. You can review the current county thresholds on the FHFA conforming loan limits map, then talk with a VA-savvy lender about how your remaining entitlement applies in Wake County.

Your COE, how to get it fast

Your Certificate of Eligibility (COE) proves you have VA entitlement. Most buyers can get it quickly online, and many lenders can retrieve it for you. To start, request your COE through the VA’s portal using the steps at request your Certificate of Eligibility online.

If you used a VA loan before, you may need entitlement restoration. The VA portal explains restoration and required documents. Getting your COE early helps your preapproval move faster and strengthens your offer when you’re ready to bid in Holly Springs.

VA funding fee and closing costs

The VA funding fee is a one-time cost that helps keep the program running. The exact percentage depends on your service type, whether it is your first or subsequent use, and your down payment. Some borrowers are exempt, such as veterans receiving VA disability compensation and certain surviving spouses. You can review the current percentages and exemption rules on the VA’s page with current VA funding fee percentages.

You can pay the funding fee at closing or finance it into the loan amount. If you finance it, your principal and monthly payment will be higher. The VA also limits which closing costs you can be required to pay, and sellers are allowed to cover certain costs within VA rules. See the same VA resource for details on allowable fees and seller credits.

Step-by-step timeline in Holly Springs

Every loan is unique, but here’s a common end-to-end path from COE to closing in Wake County.

1) Lender chat and prequalification

• Timing: same day to 3 days.
• Goal: share your goals, budget, and basic info to estimate what you can afford.

2) COE and full preapproval

• Timing: COE immediate to a few days; preapproval 24 hours to 1 week depending on documents.
• Goal: submit income, assets, and service documents for a strong preapproval letter.

3) Home search and offer

• Timing: varies with inventory and your criteria. Holly Springs has a mix of resale and new construction.
• Tip: submit your preapproval and COE with your offer to signal strength.

4) Offer accepted and earnest money

• Timing: immediate.
• Goal: deposit earnest money and start the loan application.

5) Appraisal ordered and inspections

• Timing: VA appraisal is often 7 to 21 days after application. Private home inspection is typically scheduled within the first week.
• Resource: The VA explains major steps, including appraisal and underwriting, in its home loan process overview.

6) Underwriting and conditions

• Timing: often 7 to 21 days, faster with a complete file.
• Goal: respond quickly to any document requests to avoid delays.

7) Clear to close and signing

• Timing: commonly 30 to 45 days from contract to close. Add 1 to 3 weeks if repairs or appraisal issues pop up. New construction timelines depend on the builder.
• Goal: review your Closing Disclosure, wire funds, and sign.

Document checklist to prepare early

Gathering paperwork upfront keeps you on track:

• Proof of service: DD-214, current Statement of Service, or other VA-approved documents, plus your COE if available
• Government ID and Social Security number
• Recent pay stubs for 30 days and employer contact
• Two years of W-2s or full tax returns if self-employed
• Two to three months of bank statements and any retirement or investment statements
• Mortgage statements for current loans if applicable
• Divorce decree or child support documents if relevant
• Gift letters if receiving funds for closing costs
• Bankruptcy discharge papers if applicable

Pro tip: provide full documents early so your lender can run initial underwriting before you make an offer.

Local market tips for Holly Springs buyers

Holly Springs offers suburban neighborhoods, greenways, and quick access to major job centers. You’ll see both newer master-planned communities and established resale areas. That mix shapes how you plan your search and offer.

• Inventory and competition: Newer homes and builder communities are common, while resale inventory can move quickly in certain price bands. Your lender’s preapproval and a firm COE help you act fast.
• Property taxes and HOA: Wake County taxes and HOA dues in planned communities affect your monthly budget. Review rates and resources through the Wake County Tax Administration.
• New development: Keep an eye on approvals and growth trends via the Town of Holly Springs Planning and Zoning page.
• Commute tradeoffs: Many buyers balance budget, amenities, and commute to Raleigh, RTP, or Cary. Factor drive times into your search.

Make your VA offer competitive

In competitive situations, sellers look for clarity and speed. You can stand out by:

• Including your lender preapproval and COE with the offer
• Offering a reasonable earnest money deposit and realistic closing date
• Choosing a lender experienced with VA loans who communicates quickly
• Being clear on expectations for appraisal and repairs, and focusing on health and safety rather than cosmetic asks
• Considering a small down payment or limited seller-paid costs if advised by your lender and within VA rules

New construction with VA in Holly Springs

Yes, you can use a VA loan on new construction. Builders often accept VA financing, but timing depends on build progress and lender requirements. Appraisals and Minimum Property Requirements still apply, and some items could be called out for completion or repair.

Ask about builder incentives, closing timelines, and how upgrades affect the appraisal. Your lender can structure rate locks and closing windows that fit the build schedule.

Final thoughts and next steps

A VA loan can help you buy in Holly Springs with little to no down payment and competitive terms. The key is preparation: confirm eligibility, get your COE early, choose a VA-experienced lender, and align your offer with local market dynamics. With the right plan, you can move from preapproval to keys in hand with confidence.

If you’re ready to explore homes or want a lender introduction, reach out to Britney Kensmoe. Let’s make your Holly Springs move smooth and stress-free.

FAQs

Who qualifies for a VA loan and how do I check?

• Review the VA’s service and discharge criteria on the official page for VA eligibility requirements, then confirm details with your lender.

How do I get my VA Certificate of Eligibility (COE)?

• You can apply online or ask your lender to pull it for you using the VA’s instructions at request your Certificate of Eligibility online.

Will I need a down payment in Wake County?

• If you have full entitlement, many buyers can purchase with no down payment subject to lender approval; with partial entitlement, the FHFA conforming loan limits map helps determine if a down payment is needed.

What is the VA funding fee and can I finance it?

• The one-time VA funding fee varies by service type, first or subsequent use, and down payment, and you can usually finance it; see current VA funding fee percentages.

How long does a VA loan take from contract to close?

• Many Holly Springs buyers close in about 30 to 45 days, with extra time if repairs or appraisal issues arise or if it is new construction.

Do I still need a home inspection with a VA loan?

• Yes, the VA appraisal checks value and property standards but it is not a full inspection; you should always order a separate home inspection.