VA Loans
$0 down and no PMI for eligible veterans, service members, and certain surviving spouses. See the six requirements, then a lender confirms eligibility.
Check eligibility with a lender
VA Eligibility Requirements
You need to meet all six. Entitlement and the funding fee depend on your service history. A VA-approved lender confirms the official answer.
Service requirements
Veterans with 90+ consecutive days during wartime or 181+ days during peacetime, active-duty members after 90 days, National Guard and Reserves with 6+ years, and certain surviving spouses qualify. Basic training and AIT alone do not count. Discharge must be other than dishonorable. Less time can qualify if you were discharged for hardship, a medical condition, or an early out.
Certificate of Eligibility
A Certificate of Eligibility from the VA confirms your service requirements are met. Most veterans can get one in minutes at the VA eBenefits portal. A VA-approved lender can usually pull it electronically during pre-approval.
Get a COE with a lenderCredit: no VA minimum, 620+ typical
The VA sets no minimum credit score, but most lenders look for 620+. Some accept lower scores with compensating factors, and requirements vary by lender. Rough waiting windows: Chapter 7 about 2 years from discharge, Chapter 13 about 1 year or more in the plan with trustee approval, and foreclosure about 2 years from completion. Documented extenuating circumstances may shorten the wait.
Residual income and DTI
VA uses a residual-income test—money left after monthly obligations—rather than a strict DTI cap. Many lenders use 41% DTI as a guideline. Strong residual income can offset a higher ratio. Stable, documented income is required. Self-employed borrowers typically need two years of tax returns.
Open the debt-to-income calculatorPrimary residence and eligible property
The home must be your main residence, not a second home or investment. Eligible types include single-family homes, VA-approved condos, 2–4 unit properties if you live in one unit, and some manufactured homes that meet VA standards. The property must pass a VA appraisal and Minimum Property Requirements for safety, soundness, and sanitation.
Funding fee instead of PMI
VA charges a one-time funding fee of 1.25%–3.3% instead of monthly PMI. It can be financed into the loan. First-time use with $0 down is typically 2.3%; subsequent use is higher. Veterans receiving VA disability compensation and certain surviving spouses are exempt. Full entitlement means no VA loan limit. Partial entitlement can have county limits.
Connect with a VA-Approved Lender
VA Minimum Property Requirements (MPR)
A VA appraisal checks the home’s value and whether it meets Minimum Property Requirements. The VA uses those requirements so the home is safe, structurally sound, and sanitary. Cosmetic finishes are not an MPR.
- Space to live, sleep, cook, and eat, plus sanitary facilities
- Safe drinking water, hot water, and a safe method of sewage disposal
- Mechanical systems that are safe to operate and have enough capacity
- Heat that is safe and adequate for the climate
- A roof with reasonable remaining life
- Safe access to the home, and no hazard that makes it unsafe
Check funding fee and borrowing power
The funding fee and your remaining entitlement are the two numbers that change the cost and the cap. A lender calculates both from your COE.
VA Funding Fee
1.25%–3.3%, financeable
VA charges a one-time funding fee instead of monthly PMI. First-time use with $0 down is typically 2.3%; subsequent use is higher. Disability compensation and certain surviving spouses are exempt.
Key Details
- Ranges from 1.25% to 3.3% of the loan
- Can be financed into the loan
- Disability compensation and certain surviving spouses are exempt
Entitlement and loan limits
The guaranty on your COE
Entitlement is the amount the VA promises to repay the lender if you default. It is not the loan amount. Full entitlement means the Certificate of Eligibility shows $36,000 of basic entitlement, and there is no VA loan limit.
Key Details
- Full entitlement: COE shows $36,000 of basic entitlement
- $36,000 is the guaranty, not the loan amount
- If basic entitlement is $0, county limits can apply
VA vs Conventional
VA often wins when putting less than 20% down—no PMI can offset the one-time funding fee. Conventional can compete with 20% down and strong credit.
More VA information
Building a home or shopping rates? Construction and current VA averages are below.
Construction Loans
$0 down construction-to-permanent
Eligible veterans can use one closing for the construction loan and the permanent mortgage on a primary residence.
Key Details
- One closing for construction and the permanent loan
- $0 down with full entitlement
- Primary residence, VA appraisal, and MPRs
Compare VA Rates
Current lender offers
See what rate you might qualify for today. The national average VA rate is currently around 6.77% APR.
Key Details
- Compare offers from multiple lenders
- $0 down and no PMI
- The VA guarantee can mean a lower rate than conventional
VA 30-year fixed rate average
The figure below is a national rate-lock average for 30-year VA fixed-rate mortgages sourced from Optimal Blue mortgage market data. It is not a personalized quote: your rate depends on your credit, loan amount, entitlement status, and the lender you choose.
VA loans are available to eligible veterans, active-duty service members, and surviving spouses. They require no down payment and typically carry no private mortgage insurance (PMI), often making them the most competitive option for those who qualify.
6.77% APR
Last announced November 10, 2026