Pros
- Often no down payment
- No monthly mortgage insurance
- Competitive rates
Cons
- A one-time VA funding fee, which can be financed
- For your primary home only
- The home must meet VA property standards
Good to know
- Veterans receiving VA disability compensation are generally exempt from the funding fee.
- You need a Certificate of Eligibility, which your lender can usually request for you.
Loan rules and limits change. Confirm current terms with lenders. Not financial advice.
Questions from readers
Question about VA loan? Ask here.