VA
0% down for veterans, service members and eligible spouses
Guaranteed by the Department of Veterans Affairs: no down payment, no monthly mortgage insurance, and competitive rates. Includes IRRRL streamline and cash-out refinances.
- Min. down
- 0%
- Monthly MI
- None
- Funding fee
- 0.5–3.3%
- Exempt
- Disability rating
Best for
- Veterans & active duty
- Surviving spouses
- 0% down purchases
- IRRRL rate reductions
Funding fee
2.15% for first use with less than 5% down, 1.5% with 5%+, 1.25% with 10%+; 3.3% for subsequent use with less than 5% down. IRRRL is 0.5%. Veterans receiving service-connected disability compensation are exempt.
Residual income
VA underwriting looks at residual income after housing and debts, not just debt-to-income.
IRRRL
A streamlined VA-to-VA refinance to lower your rate, with recoupment of costs required within 36 months.
Run your numbers
*Program summaries are general information. Guidelines, loan limits and pricing change; eligibility is determined during underwriting.