30-yr fixed6.75%+0.0315-yr fixed6.05%+0.00FHA 30-yr6.55%+0.08VA 30-yr6.38%+0.08Jumbo 30-yr6.82%+0.11Updated September 1, 2026
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Loan type

VA loans

VA loans are guaranteed by the Department of Veterans Affairs for veterans, active service members and eligible surviving spouses. No down payment and no monthly mortgage insurance.

Calculate your VA funding fee

Who this is for

  • Veterans and active-duty members who meet the service requirements
  • Some National Guard and Reserve members
  • Surviving spouses of members who died in service or from a service-connected disability

How it works, step by step

  1. Get your Certificate of Eligibility (COE) from the VA or through a lender.
  2. Choose a lender that does real VA volume; underwriting and appraisals have VA-specific rules.
  3. Budget for the VA funding fee, a one-time charge of 0% to 3.3% that can be financed.
  4. You can use the benefit more than once, and even hold two VA loans at the same time in some cases.

Pros

  • Zero down payment
  • No monthly mortgage insurance
  • Rates often below conventional for the same borrower
  • Limits on what fees the borrower can pay

Cons

  • Funding fee unless you are exempt (usually a service-connected disability rating)
  • Primary residences only
  • Some sellers and agents wrongly assume VA loans are slow