VA loans
A VA loan is guaranteed by the Department of Veterans Affairs and lets eligible veterans, active-duty service members and some surviving spouses buy with no down payment and no monthly mortgage insurance. For borrowers who qualify it is usually the strongest option available.
Best for: Veterans, active-duty service members, National Guard and Reserve members, and eligible surviving spouses.
Our instant calculator prices conventional and FHA. VA pricing depends on details the tool does not collect, so we quote it directly rather than risk giving you a number that is wrong for your situation.
What makes this loan different
No down payment
Eligible borrowers with full entitlement can finance 100% of the purchase price, subject to the appraised value.
No monthly mortgage insurance
This is the big one. VA charges no monthly mortgage insurance at all, which often makes the payment lower than a conventional loan even at the same rate.
Reusable benefit
VA entitlement is not a one-time benefit. It can be restored and used again, and in some cases used for more than one loan at a time.
What you'll need
- A valid Certificate of Eligibility based on your service history.
- The home must be your primary residence.
- A VA appraisal, which includes minimum property requirements.
- A VA funding fee applies in most cases and can be financed — borrowers receiving VA disability compensation are typically exempt.
- Lender credit and income standards still apply; VA guarantees the loan, it does not lend the money.
Honest trade-offs
- The funding fee is a real cost unless you are exempt, though there is no monthly mortgage insurance to offset it against.
- VA appraisals can take longer and hold the property to condition standards.
- Not usable for investment property or a second home.
Common questions
Do I have to pay mortgage insurance on a VA loan?
No. VA loans carry no monthly mortgage insurance, which is the single biggest reason they often beat conventional and FHA on monthly payment. There is a one-time funding fee instead, which can be financed into the loan and is waived for many borrowers receiving VA disability compensation.
Can I use my VA benefit more than once?
Yes. VA entitlement can be restored after a loan is paid off, and in some situations you can hold more than one VA loan at a time using remaining entitlement. This is worth a conversation rather than a rule of thumb — call us and we will look at your Certificate of Eligibility.
Why is VA not in your instant calculator?
The instant tool prices conventional and FHA. VA pricing depends on entitlement, funding-fee exemption status and county specifics that the tool does not collect, so quoting it automatically would risk giving you a number that is wrong for your situation. Call (919) 390-1775 and we will price it properly.
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