VA Home Loan
Earned through service. Zero down payment.
The VA home loan benefit is one of the most powerful financial tools available to veterans, active-duty service members, and surviving spouses. With no down payment requirement, no monthly mortgage insurance, and competitive rates, the VA loan has helped millions of military families achieve homeownership. At Summit Crest Mortgage, we're proud to specialize in VA lending.
- $0 down payment required
- No monthly mortgage insurance (PMI/MIP)
- No set loan limit with full entitlement
- One-time funding fee (exemptions apply)
Why choose this loan
Benefits of a VA Home Loan
Zero down payment — ever
Eligible veterans and active-duty borrowers can finance 100% of the purchase price with no down payment whatsoever. There is no requirement to save tens of thousands before buying.
No monthly mortgage insurance
Conventional loans require PMI below 20% equity; FHA loans require MIP for the life of the loan. VA loans have neither. That savings can be $150–$300 per month on a typical loan.
Competitive interest rates
Because VA loans are backed by the U.S. Department of Veterans Affairs, lenders take on less risk and typically offer rates 0.25–0.5% below conventional products for comparable borrower profiles.
Flexible credit guidelines
VA guidelines are more forgiving of past credit challenges than conventional programs, and there is no strict minimum credit score set by the VA itself — lender overlays typically start at 580–620.
Eligibility
Do you qualify?
Typical guidelines for a VA Home Loan. Final eligibility is determined during underwriting.
- Eligible veterans, active-duty service members, National Guard, and Reserve members meeting service requirements
- Surviving spouses of veterans who died in service or from a service-connected disability
- Obtain a Certificate of Eligibility (COE) from the VA or through your lender
- Property must be your primary residence
- Must meet lender credit and income guidelines (typically 580–620+ credit score)
- One-time VA funding fee applies (currently 2.15% for first use with 0% down); waived for veterans with service-connected disability ratings
Sample scenarios
Illustrative VA Home Loan rates
30-Year VA Fixed
6.375%
Illustrative; often below conventional
15-Year VA Fixed
5.875%
Illustrative rate
VA IRRRL (streamline refi)
6.25%
Illustrative; minimal documentation required
Rates shown are for illustrative purposes only, are not a quote or guarantee, and do not reflect a specific offer. Actual rates depend on credit score, loan amount, loan-to-value, occupancy, and other factors, and change daily. Contact us for a personalized rate quote.
How it works
Your path to approval
- 1
Verify your eligibility
We'll help you obtain your Certificate of Eligibility directly from the VA's e-Benefits system — usually electronically within minutes.
- 2
Pre-approval and home search
Your VA pre-approval letter signals to sellers that you're a serious buyer with government-backed financing — a real competitive advantage.
- 3
VA appraisal and underwriting
A VA-approved appraiser confirms the property's value and condition. We manage the process and keep your file moving through underwriting.
- 4
Close with minimal cash to close
With no down payment and the option to roll the funding fee into the loan, your out-of-pocket costs at closing are often dramatically lower than any other loan type.
VA vs. FHA vs. Conventional
| VA | FHA | Conventional | |
|---|---|---|---|
| Down payment | $0 | 3.5% | 3–20% |
| Mortgage insurance | None (monthly) | MIP for life of loan | PMI until 80% LTV |
| Funding / upfront fee | 1-time funding fee | 1.75% upfront MIP | None |
| Credit score | 580+ (lender) | 580+ | 620+ |
| Eligibility | Military/veterans | All buyers | All buyers |
Frequently asked questions
Is there a VA loan limit in 2026?
Veterans with full VA entitlement have no loan limit — they can finance any amount their income supports with $0 down. Borrowers with remaining (partial) entitlement may have limits tied to the county conforming limit.
What is the VA funding fee in 2026?
The one-time VA funding fee for a first-time use purchase with 0% down is currently 2.15% of the loan amount. It drops to 1.65% with a 5% down payment. Veterans with a VA-rated service-connected disability are fully exempt from the funding fee.
Can I use my VA benefit more than once?
Yes. VA entitlement can be restored after a prior VA loan is paid off, or you can use remaining entitlement to purchase again. Many veterans have used their VA benefit multiple times over their lifetimes.
Does a VA loan require private mortgage insurance?
No. This is one of the VA loan's greatest benefits. There is no monthly PMI or MIP regardless of your down payment. The one-time funding fee is the only government insurance cost, and it can be rolled into the loan amount.
Ready to explore a VA Home Loan?
Talk to a loan officer today — friendly, no-pressure guidance from real humans.