Why VA usually wins
- 0% down — full financing without PMI of any kind.
- No monthly mortgage insurance — the line item that quietly adds hundreds to low-down conventional and FHA payments simply does not exist.
- Lower rates — the VA guaranty lets lenders price VA loans below comparable conventional, commonly by 0.25–0.5%.
- Assumable — a qualified buyer can take over your rate later, a genuine resale asset in any higher-rate future.
Who is eligible
Broad strokes (the COE is the official answer): veterans meeting minimum active-duty service, current active-duty members after ~90 continuous days, National Guard and Reserve members (6 years, or shorter with qualifying active-duty periods), and surviving spouses of service members who died in the line of duty or from a service-connected disability.
The Certificate of Eligibility
The COE proves entitlement. Lenders can usually pull it electronically in minutes through the VA portal — you rarely need to chase paperwork yourself. This is a day-one task in any VA file because it also states your entitlement amount.
The funding fee
Instead of mortgage insurance, VA charges a one-time funding fee, financeable into the loan: roughly 2.15% for first use at zero down, 3.3% for subsequent zero-down use, less with a down payment — and waived entirely for veterans receiving service-connected disability compensation and for eligible surviving spouses. A 10%-disability-rated veteran on a $500,000 purchase saves over $10,000 at closing versus an identical non-exempt file.
Entitlement and using VA more than once
Entitlement is reusable. It restores when a VA loan is paid off and the home is sold, and with today’s "bonus entitlement" rules many veterans can even carry two VA loans at once (for example after a PCS move) subject to remaining entitlement math. Never assume a past VA loan disqualifies you — run the numbers.
About VA offers in competitive markets
Some listing agents still believe VA offers close slower or appraise harshly. It is largely outdated: VA appraisals carry the Tidewater process and timelines comparable to conventional, and a well-prepared VA file closes in a normal purchase window. The fix is a strong, specific pre-approval and a loan officer who calls the listing agent to walk through the file.
Price your home purchase scenario in minutes
Answer "yes" to military service in the purchase flow and VA prices next to conventional automatically. No documents, no login — live indicative pricing as you answer, then a licensed loan officer reviews your exact scenario.
RUN MY SCENARIO →