A powerful zero-down benefit for those who served.
What Is a VA Loan?
A VA loan is a government-backed mortgage program created for active-duty service members, veterans, and eligible surviving spouses. Guaranteed by the U.S. Department of Veterans Affairs, VA loans offer unmatched benefits including 0% down, no mortgage insurance, and some of the most competitive interest rates available.
Compared to Conventional Loans and FHA Loans, VA loans consistently offer lower monthly payments and easier qualification for those with eligible service history.
⭐ VA Loan Advantages
- Zero Down Payment — Buy a home with $0 down
- No PMI Ever — Save hundreds per month compared to FHA/Conventional
- Lower Interest Rates — VA rates average 0.25%–0.75% lower
- Flexible Credit Requirements — Easier qualification, even with past issues
- Low Funding Fee (Often Waived) — Disabled veterans pay no funding fee
- Refinance Options — IRRRL “streamline” refinance requires minimal documentation
VA loans offer unmatched buying power for those who’ve served.
🇺🇸 See If You Qualify for a VA Loan
Eligible service members often pay less per month with VA than with Conventional or FHA.
👉 Get Pre-Qualified for a VA Loan »
(Soft credit — no impact to score)
Who Is Eligible for a VA Loan?
VA loans are available to:
- Active-duty military
- National Guard
- Reservists
- Veterans
- Eligible surviving spouses
Typical Service Requirements
| Service Status | Requirement |
|---|---|
| Active Duty | 90 continuous days |
| Veterans | 181 days during peacetime OR 90 days wartime |
| National Guard/Reserve | 6 years, or 90 days active duty |
| Surviving Spouses | Eligible under VA rules |
(Your COE — Certificate of Eligibility — confirms qualification.)
VA Loan Requirements
You generally need:
- A valid COE (Certificate of Eligibility)
- A credit score of ~580–620+
- Steady income and manageable debt
- The property must be a primary residence
Not eligible for VA?
Compare alternatives: FHA Loans or Conventional Loans.
VA Loan Funding Fee
Instead of PMI, VA loans use a one-time “funding fee,” which can be financed.
Funding Fee Examples
| Down Payment | First-Time VA Use | Subsequent Use |
|---|---|---|
| 0% | 2.3% | 3.6% |
| 5% | 1.65% | 1.65% |
| 10% | 1.4% | 1.4% |
Funding Fee Waived For:
- Veterans with service-connected disability
- Surviving spouses receiving benefits
- Purple Heart recipients
This can save thousands in upfront costs.
VA Loan Example
| Description | Amount |
|---|---|
| Purchase Price | $400,000 |
| Down Payment | $0 |
| Loan Amount | $400,000 |
| Approx. Monthly Payment | ~$2,350/mo (includes taxes & insurance) |
Use our Payment Calculator to estimate your exact monthly payment.
VA vs. Conventional Loans
| Feature | VA Loan | Conventional |
|---|---|---|
| Down Payment | 0% | 3%–20% |
| Mortgage Insurance | None | Required under 20% down |
| Rates | Lower | Higher |
| Best For | Eligible military & veterans | Strong credit buyers |
VA loans offer the lowest monthly payment for qualified buyers.
Why Work With AskMortgageAuthority.com
We support those who served with:
- Step-by-step guidance from pre-qualification to closing
- Assistance obtaining your COE
- Transparent rate & fee comparisons
- Access to lenders experienced in VA underwriting
- Help choosing between VA, FHA, and Conventional Loans
We make the VA loan process smooth, clear, and stress-free.
Take the First Step With Confidence
Your service earned this benefit — now use it to build a strong financial future.
👉 Get Pre-Qualified for Your VA Loan »
VA Loan FAQs
Do I need a down payment for a VA loan?
No. VA loans offer 100% financing for eligible borrowers.
Do VA loans require mortgage insurance?
No. There is no PMI, making VA loans cheaper monthly than other loan types.
Can I use a VA loan more than once?
Yes. You can reuse your VA entitlement multiple times.
What is the VA funding fee?
A one-time fee that replaces PMI. Disabled veterans are exempt.
Can I buy a second home with a VA loan?
VA loans require the property to be a primary residence, but multi-unit properties are allowed.