VA Purchase Loans
A VA purchase loan lets eligible veterans, service members and surviving spouses buy with 0% down and no monthly mortgage insurance. Most first-time users pay a one-time 2.15% funding fee, usually added to the loan; veterans receiving VA disability compensation pay none.
At a glance
VA loan key facts
| VA loan | |
|---|---|
| Down payment | 0% for eligible borrowers with full entitlement |
| Monthly mortgage insurance | None |
| Funding fee | 2.15% on a first use with under 5% down, usually added to the loan; $0 for veterans receiving VA disability compensation |
| Loan limit | None with full entitlement; the county conforming limit applies with reduced entitlement |
| Seller concessions | Up to 4% of the price, plus normal closing costs |
| Appraisal | VA appraisal against the VA's Minimum Property Requirements |
| Property | Your primary home, 1–4 units |
Today
VA rates by credit score
| Credit score | Rate | APR | Points |
|---|---|---|---|
| 640 | 6.375% | 6.811% | 1.994 |
| 680 | 6.375% | 6.791% | 1.794 |
| 720 | 6.250% | 6.705% | 2.214 |
30-year fixed VA purchase, $375,000 home in Virginia, 0% down, primary home. Rates as of October 21, 2026.
Example
What a VA loan costs
| 680 credit score | Example |
|---|---|
| Home price | $375,000 |
| Down payment | $0 (0%) |
| VA funding fee (added to loan) | $8,062 |
| Loan amount | $383,062 |
| Rate / APR | 6.375% / 6.791% |
| Points | 1.794 ($6,728) |
| Principal & interest | $2,390/mo |
| Monthly mortgage insurance | $0 |
| Total before taxes & insurance | $2,390/mo |
30-year fixed purchase in Virginia, primary home. Rates as of October 21, 2026.
Benefits
Why eligible buyers choose a VA loan
No down payment for eligible buyers
Qualified borrowers with full entitlement can finance their home purchase without a down payment.
No private mortgage insurance
VA loans never require monthly PMI, which can mean a lower monthly payment than other low-down-payment options.
Competitive, government-backed terms
Because the VA guarantees a portion of the loan, lenders can offer favorable terms to those who've served.
A reusable benefit
Your VA loan entitlement isn't a one-time perk — it can be restored and used again.
Good fit?
Are you eligible for a VA loan?
Not sure if this is the right program? Get a free quote and a loan officer will help you compare your options.
Start my free quote- You're an eligible veteran, active-duty service member, Guard, or Reservist
- You're a surviving spouse who may qualify for VA benefits
- You want to buy with little or no money down
- You want to avoid monthly mortgage insurance
The process
How it works
Get pre-qualified
Answer a few questions online to see your estimated buying power — it only takes a few minutes.
Talk through your options
Your loan officer compares programs and helps you choose the right fit for your goals and budget.
Shop with confidence
Make offers backed by a pre-qualification letter that sellers take seriously.
Close on your home
We coordinate the details and keep you informed all the way to the closing table.
Questions
Frequently asked questions
Who is eligible for a VA loan?
Eligibility generally extends to qualifying veterans, active-duty service members, certain members of the Guard and Reserves, and some surviving spouses. We'll help you confirm your eligibility and obtain your Certificate of Eligibility.
What is a Certificate of Eligibility (COE)?
The COE confirms to your lender that you qualify for the VA home loan benefit. We can help you request it as part of getting pre-qualified.
Is there a VA funding fee?
Yes, on most VA loans. On a purchase it is 2.15% of the loan for a first use with less than 5% down (3.3% if you've used the benefit before), 1.5% with 5% down and 1.25% with 10% down. It is usually added to the loan. Veterans receiving VA disability compensation and surviving spouses pay no funding fee.
Is there a VA loan limit?
Not with full entitlement: you can borrow as much as you qualify for with 0% down. If part of your entitlement is still tied to another VA loan, the county conforming limit sets how much you can borrow before a down payment is needed.
Can I use my VA benefit more than once?
Yes. The VA loan benefit is reusable. Your entitlement can be restored after you sell and pay off a prior VA loan, and in some cases you can have more than one VA loan at a time.
Does the home have to meet special requirements?
Yes. A VA appraiser checks the home against the VA's Minimum Property Requirements: safe, structurally sound and sanitary, with working heat, water and electrical systems and a roof with life left in it. Cosmetic issues don't fail an appraisal.
Ready to get started?
Get your personalized quote in a few minutes — no obligation, no impact to your credit to start. A loan officer will help you take it from there.