VA Home Loans · Southern Maryland · Virginia · NAS Patuxent River · NMLS #2656628

$0 Down. No PMI. VA Loans for Southern Maryland & Virginia Veterans.

As a retired U.S. Navy veteran who started his career aboard the USS Austin LPD-4 in Norfolk and retired from Dam Neck Naval Station in Virginia Beach, Ken Powell has used his own VA loan benefit, and helped dozens of military families across Southern Maryland and Virginia use theirs.

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Retired U.S. Navy veteranUsed VA benefit personallyNAS Patuxent River specialist$0 down paymentNo PMI ever
Ken Powell Southern Maryland Mortgage Loan Officer NMLS 2656628
Ken Powell
Mortgage Loan Officer · Fairway Home Mortgage
NMLS #2656628 · MD · VA
(240) 237-7855
$0
Down payment required
No PMI
Saves $150 to 400/month
No limit
Loan amount, full entitlement
Reusable
At every duty station
VA Loan Benefits

Why the VA Loan Is the Most Powerful Mortgage Available.

No other government loan program combines zero down payment, no private mortgage insurance, competitive rates, and a reusable benefit the way the VA loan does.

🏠

$0 Down Payment

Purchase your home in Southern Maryland or Virginia with no money down. No down payment requirement whatsoever for eligible veterans.

$0 Down
🛡️

No Private Mortgage Insurance

VA loans never require PMI, saving most buyers $150 to 400/month compared to conventional loans with low down payments.

Saves thousands
📉

Competitive Interest Rates

VA loans consistently offer some of the lowest available rates, often 0.25 to 0.5% below conventional equivalents.

🔄

Reusable VA Benefit

Your entitlement restores when you sell or pay off a VA-financed home. Use it at every duty station.

Lifetime benefit
🏢

1 to 4 Unit Multifamily

VA loans are eligible for 1 to 4 unit properties. Live in one unit, rent the others, one of the most powerful wealth-building strategies available to veterans.

Investor strategy
🎯

VA Jumbo, Zero Down

Veterans with full entitlement can purchase above the $806,500 conforming limit with no down payment.

High-value homes

PCS'ing to NAS Patuxent River? Start your VA loan now.

PCS timelines are tight. Ken Powell, a fellow veteran, specializes in VA purchase loans for service members relocating to Southern Maryland. He'll pull your COE, work with your BAH orders, and coordinate with local agents. Start 60 to 90 days before your report date.

The Southern Maryland Multifamily Strategy

Buy a 2 to 4 Unit Property With Your VA Benefit. Live in One. Rent the Rest.

This is the single most powerful wealth-building strategy available to active-duty service members near NAS Patuxent River, and it requires $0 down.

How the strategy works

  • ✓Use your VA loan to purchase a 2 to 4 unit property near NAS Pax River
  • ✓Live in one unit as your primary residence (VA requirement)
  • ✓Rent the remaining 1 to 3 units to fellow service members at BAH rates
  • ✓When you PCS, convert the entire property to a rental
  • ✓Use your remaining VA entitlement at the next duty station
  • ✓Repeat at each assignment, building a portfolio with $0 down

Why Southern Maryland is ideal for this strategy

  • ✓BAH rates near NAS Pax River support $2,200 to $3,500+/month rents (3BR)
  • ✓Military rotation creates a built-in, year-round renter pool
  • ✓A and B-class renters, veterans, nuclear plant workers, DoD civilians
  • ✓Low vacancy: St. Mary's and Calvert have limited rental inventory
  • ✓Landlords can be highly selective, charge premium rents
  • ✓147 active rental listings, median rent $2,900/mo (Bright MLS, July 2026)
The Process

Your VA Loan: Certificate of Eligibility to Keys.

1

Pull Your COE

I pull your Certificate of Eligibility directly from VA, usually in minutes online. No waiting.

2

Pre-Approval

Full document review. A Fairway Advantage® letter that sellers and listing agents take seriously.

3

VA Appraisal

VA-assigned appraiser confirms value and MPRs. Adds ~5 to 7 days, worth it for the benefit.

✓

Close

Keys in hand. VA funding fee financed into loan. No cash needed at closing in most cases.

FAQ

VA Loan Questions from Southern Maryland Service Members.

Can I use my VA loan if I already own a home?+
Yes, if your prior VA loan is paid off, your entitlement is fully restored. If not, you may have remaining entitlement available. I'll calculate your exact entitlement during our initial call.
What is the VA funding fee?+
A one-time fee ranging from 1.25% to 3.3% of the loan amount, financed into the loan. Veterans with a service-connected disability rating of 10% or higher are completely exempt. Surviving spouses of veterans who died in service are also exempt.
Can I buy a rental property with a VA loan?+
VA loans require primary residence occupancy, but 1 to 4 unit multifamily properties are eligible. You live in one unit and rent the others. When you PCS, the whole property becomes a rental.
I'm PCS'ing soon, can I start before I have orders?+
Yes. Many lenders require official orders but I can begin the pre-approval process, pull your COE, and get your file fully underwritten so you can move immediately once orders come.
What credit score do I need for a VA loan?+
The VA doesn't set a minimum. Most Fairway programs require 580 to 620+. For competitive rates, 640 to 680+ is ideal. We have programs for borrowers rebuilding credit as well.
Does a VA loan take longer to close?+
Not significantly. The VA appraisal adds approximately 5 to 7 business days. With a well-prepared file, most VA purchases close within standard 30 to 45 day timelines.

You've Earned This Benefit. Let's Maximize It.

From pulling your COE to closing, Ken Powell guides Southern Maryland veterans through every step of the VA loan process.

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Ken Powell · Fairway Home Mortgage · 9375 Chesapeake Street, Suite 203, La Plata, MD 20646
(240) 237-7855 · ken.powell@fairwaymc.com
Equal Housing Opportunity Equal Housing Lender Fairway NMLS #2289 Ken Powell NMLS #2656628 Fairway Home Mortgage