2026-09-14T00:00:00|6.968|0.023|6.274|0.035|6.725|-0.009|6.623|0.032||
VA Loans: Zero Down, No PMI for Veterans
VA loans are the best mortgage benefit for eligible veterans, active-duty service members, and surviving
spouses. No down payment required, no PMI, and competitive interest rates.
What Is a VA Loan?
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs. Like FHA, the VA does not lend directly — it guarantees a portion of the loan, allowing private lenders to offer exceptional terms. VA loans are widely considered the best mortgage product available, offering zero down payment, no private mortgage insurance, and typically the lowest interest rates of any loan type.
FHA Loan Requirements
No Down Payment
100% financing available. No down payment required on loans up to the conforming limit (no limit with full entitlement since 2020). This alone saves tens of thousands upfront.
No PMI — Ever
VA loans never require private mortgage insurance, even at 100% LTV. This saves $100–$400+/month compared to conventional or FHA loans with low down payments.
Lower Interest Rates
VA rates are typically 0.25%–0.50% lower than conventional rates. Over a 30-year loan, this can save $20,000–$40,000 in interest. See today's VA rates.
Lenient Credit
No VA-mandated minimum credit score (most lenders use 620). Flexible DTI with residual income test. More forgiving of past credit issues.
VA Funding Fee
One-time fee of 1.25%–3.3% (can be rolled into loan). First-use with no down = 2.15%. Waived entirely for veterans with service-connected disabilities.
Reusable Benefit
VA loan entitlement can be reused. Sell a VA-financed home and use the benefit again. Some borrowers can even have two VA loans simultaneously with remaining entitlement.
VA Loan Eligibility
Who Qualifies?
Active Duty: Currently serving with 90+ continuous days of active service.
Veterans: Served 90+ days during wartime or 181+ days during peacetime, with honorable discharge.
National Guard/Reserves: 6+ years of service, or 90+ days of active duty (Title 10).
Surviving Spouses: Un-remarried spouses of veterans who died in service or from service-connected causes.
Obtain your Certificate of Eligibility (COE) through VA.gov, your lender, or by mail using VA Form 26-1880.
VA Loan Types
| Program | Purpose | Key Feature |
|---|---|---|
| VA Purchase Loan | Buy a home | No down payment required |
| VA IRRRL (Streamline) | Refinance existing VA loan | No appraisal, minimal paperwork |
| VA Cash-Out Refinance | Refinance + access equity | Up to 100% of home value |
| VA Renovation Loan | Buy + renovate | Finance repairs into purchase loan |
| Native American Direct Loan | Buy on federal trust land | Direct loan from VA (not guaranteed) |
Calculate your VA payment with our VA calculator or compare with VA vs. Conventional to see the savings.
Explore Loan Types
FRED-sourced data
Updated daily
No personal info required
Optimal Blue + Freddie Mac
Expert guidance on fha loans
FHA Loans Explained
Official Government Resources
CFPB — Owning a Home
Consumer Financial Protection Bureau guide to buying a home,
comparing loan offers, and understanding closing.
HUD — Buying a Home
Department of Housing & Urban Development resources for
homebuyers, including FHA program information.
VA — Home Loans
Official VA home loan program information, eligibility, and
Certificate of Eligibility requests.
Freddie Mac — Rate Survey
Weekly Primary Mortgage Market Survey, a benchmark for national
average mortgage rates.
FHFA — Loan Limits
Federal Housing Finance Agency conforming loan limits by county,
updated annually.
IRS — Mortgage Interest Deduction
IRS guidance on deducting home mortgage interest, points, and
eligible mortgage-related expenses.
Ready to Find Your Rate?
Get matched with the best mortgage rates available today.
No commitment, no impact on your credit score.
