VA Loan 2026: 0% Down, No PMI
Updated: September 15, 2026 | By James Chen | Editorially reviewed against primary government and agency sources
The VA loan is the best mortgage product in America — if you've earned it. Zero down, no PMI, no loan limit with full entitlement, and the 2026 average rate runs about 6.125%.
VA Loan Key Numbers (2026)
0%
Down payment required
$0
PMI — none, ever
6.125%
30Y avg rate (Aug 2026)
2.15%
Funding fee, first use 0% down
620
Typical credit minimum
None
Loan limit (full entitlement)
What $350K costs on a VA loan
0% down, 6.125% for 30 years: $2,127/mo principal & interest + $7,525 funded fee (rolled in ≈ $45/mo) + taxes & insurance. Compare that to the same home with 10% down conventional: $1,935/mo P&I but $291/mo PMI until year 7 — the VA loan wins on total cost for qualified buyers.
Run your VA payment →VA loan resources
- • VA loan complete guide — every rule, in order
- • VA loan calculator — payment with funding fee
- • VA rates today — 30Y, 15Y, IRRRL
- • Zero-down options compared — VA vs USDA vs FHA
Frequently Asked Questions
Who qualifies for a VA loan?+
Veterans, active-duty service members, National Guard and Reserve members, and some surviving spouses. You need a Certificate of Eligibility (COE) — most lenders pull it electronically in minutes. There is no minimum service requirement for active duty; reserves typically need 6 years, with exceptions for deployment or hardship.
How much is the VA funding fee in 2026?+
First use: 2.15% of the loan with 0% down, 1.5% at 5% down, 1.25% at 10%+. Subsequent use adds 0.5%. Veterans with a service-connected disability rating (even 10%) are exempt entirely. The fee can be financed into the loan — on a $350K loan at 2.15%, that adds about $45/mo.
What credit score do I need for a VA loan?+
The VA sets no minimum, but most lenders want 620. Some portfolio lenders accept 580-600 with compensating factors. There is no PMI regardless of down payment, and no minimum down payment at all — the only cash needed is closing costs.
Can I use a VA loan more than once?+
Yes — entitlement is reusable. Selling the home or refinancing out restores it. You can also hold two VA loans at once if your remaining entitlement covers the second, which is how some veterans buy an investment property with a VA loan.
How much house can I afford with a VA loan?+
No conforming loan limit applies when you have full entitlement — lenders approve based on your DTI (typically up to 41-50% with strong credit) and residual income. On a $6,000/mo gross income with a $500 car payment, a $2,200/mo PITI payment keeps you around a 45% back-end DTI.