Zero down, no monthly mortgage insurance, and a benefit you can reuse — explained plainly by a veteran. Last reviewed August 24, 2026.
For most eligible veterans, zero. VA loans allow 100% financing with no down payment and no monthly mortgage insurance.
You still cover certain closing costs, but those can often be offset with seller concessions negotiated into the contract — so many veterans buy with very little out of pocket. Subject to eligibility and approval.
Yes — it's reusable. Once you sell and pay off a VA loan, your entitlement is typically restored, and in some cases you can hold two VA loans at once.
The "you already used it" belief keeps a lot of veterans from a benefit they still have. It's worth checking your actual entitlement rather than assuming.
A one-time fee that keeps the program running; it varies by down payment and first-vs-subsequent use, and it can be rolled into the loan.
Veterans receiving VA disability compensation, and certain others, are exempt from the funding fee entirely. Your exact fee or exemption is confirmed during the loan process.
No — no monthly PMI, ever. That alone often makes a VA payment lower than a comparable conventional loan at the same price.
Yes. Seller concessions can be negotiated in the contract to cover closing costs and certain fees.
Concessions are negotiated deal by deal, so they aren't guaranteed — but for many veterans they're the difference between "someday" and buying now.
Usually, no. Veterans are often wrongly told their credit, a past use, or a prior home disqualifies them.
The only way to know is to have your eligibility and entitlement checked directly. It's free to find out — and it's the benefit you earned.
The program details on this page come from the administering agencies. Program terms change — always confirm current figures directly with the source.
About the author. Scott Smith is a U.S. Army veteran and a licensed mortgage loan originator with Citywide Home Mortgage (NMLS #2244351; Company NMLS #2611), serving Colorado veterans and active-duty service members. Book a free eligibility check at smithapprovesme.com.
Educational only; not financial, legal, or tax advice, and not a commitment to lend. VA loans are subject to VA eligibility, lender requirements, and approval. A VA funding fee may apply (some veterans are exempt). Seller concessions are negotiated in the contract and not guaranteed. Scott Smith, NMLS #2244351 | Citywide Home Mortgage, NMLS #2611 | Equal Housing Lender.