Tami Price is a U.S. Air Force veteran and Broker Owner of Tami Price Properties, helping military families across San Antonio and Joint Base San Antonio.
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A VA home loan is a mortgage issued by a private lender and guaranteed by the U.S. Department of Veterans Affairs. For eligible service members, veterans, and surviving spouses it can mean financing with no down payment, no monthly mortgage insurance, and no maximum loan limit when full entitlement is available. This page covers who qualifies, what the current numbers are, and how VA stacks up against an FHA loan, with every figure cited to VA.gov as of 2026.
Eligibility is about service, not income or credit score. VA.gov sets minimum service requirements by category, and the lender still underwrites the loan. The broad groups below qualify; the fine print lives on VA.gov and in the Certificate of Eligibility.
For service since August 2, 1990, a veteran generally needs 24 continuous months of active duty, or the full period, at least 90 days, for which they were called to active duty. At least 90 days can qualify in cases of hardship, reduction in force, certain medical conditions, or a service-connected disability. Wartime service before August 2, 1990 requires at least 90 days of active duty; peacetime service between May 7, 1975 and August 1, 1990 requires 181 continuous days. Discharge must be other than dishonorable.
Service members on current active duty can meet the requirement after 90 continuous days of service, so members early in a PCS cycle can still qualify. They do not need a discharge to apply.
Reserve and National Guard members generally qualify after completing six creditable years in the Selected Reserve or National Guard with an honorable discharge, or a discharge for a service-connected disability. They also qualify after serving the full period, at least 90 days, for which they were called to active duty, after at least 90 days of non-training active-duty (Title 10) service, or, under the 2020 expansion, after at least 90 cumulative days of full-time National Guard duty under Title 32, including at least 30 consecutive days.
An unmarried surviving spouse of a veteran who died on active duty or from a service-connected disability may be eligible. Surviving spouses of service members missing in action or prisoners of war for more than 90 days are also eligible, and a surviving spouse who remarries after age 57 retains eligibility. In addition, surviving spouses are exempt from paying the VA funding fee.
Yes, when you have sufficient entitlement. The VA guarantees 25 percent of the loan, and with full entitlement a qualifying borrower can finance a home with no down payment and no VA-imposed loan cap. The down payment math only kicks in with partial entitlement, for example after entitlement was used on a prior loan that has not been restored. The lender, not the VA, ultimately sets what you can borrow based on income, debt, credit, and the property value.
No. A VA loan does not carry monthly mortgage insurance like a conventional loan with a low down payment or an FHA loan. Instead, the program is funded by a one-time VA funding fee at closing, and that fee is waived for many borrowers, including veterans receiving service connected disability compensation. Removing a monthly insurance payment is one of the clearest dollar-for-dollar advantages of VA financing.
The funding fee is a percentage of the loan amount paid once at closing, with the rate set by VA. It can be paid in cash or financed into the loan, and it is separate from other closing costs. The schedule below has been in effect since April 7, 2023 and applies in 2026. The fee is entirely waived for veterans who receive VA disability compensation for a service-connected disability, for surviving spouses who receive Dependency and Indemnity Compensation (DIC), and for certain other qualifying categories.
| Use of benefit | Down payment | Funding fee |
|---|---|---|
| First-time use | Less than 5% down | 2.15% |
| First-time use | 5% to 9.99% down | 1.50% |
| First-time use | 10% or more down | 1.25% |
| Subsequent use | Less than 5% down | 3.30% |
| Subsequent use | 5% to 9.99% down | 1.50% |
| Subsequent use | 10% or more down | 1.25% |
Source: VA.gov, “VA funding fee and loan closing costs,” schedule in effect April 2023 and continuing through 2026, as of September 2026. A lender computes the exact fee on your loan amount and confirms whether a waiver applies to you.
Not when you have full entitlement. Borrowers with full entitlement have no VA loan limit in 2026, which means zero down without a price cap, subject only to lender underwriting and appraisal. Loan limits apply when entitlement is partial, for example a borrower with a prior VA loan still on the books. For those borrowers the 2026 baseline county limit is $832,750, rising to $1,249,125 in high-cost areas, and that limit bounds the no-down-payment amount a borrower can carry on partial entitlement.
Source: VA.gov loan-limit guidance and the 2026 VA loan-limit schedule, as of September 2026.
A VA loan is for a primary residence, which is the key rule: the borrower must live in the home. Within that, eligible property types include single-family homes, townhouses and condominiums in VA-approved projects, and new construction that meets VA requirements. Eligible buyers can also use the benefit for multi-unit properties with up to four units, provided one unit is their primary residence, and manufactured homes are permitted under their own set of VA rules. The property must pass VA’s Minimum Property Requirements, which the VA appraisal enforces.
Source: VA.gov, eligible property types and Minimum Property Requirements, as of September 2026.
Both loans allow a low down payment, but the monthly costs and the loan limits differ. The table compares the headline numbers for 2026 purchase loans. For borrowers eligible for VA, removing the monthly mortgage insurance charge is usually the decisive difference; for borrowers without VA eligibility, FHA is a common low-down-payment alternative.
| Item | VA loan | FHA loan |
|---|---|---|
| Minimum down payment | 0% with full entitlement | 3.5% (580+ credit score) |
| Monthly mortgage insurance | None | Annual MIP of 0.50% to 0.75% of the loan, paid in 12 monthly installments |
| Upfront fee | Funding fee of 1.25% to 3.30% (waived for many borrowers) | Upfront MIP of 1.75% of the loan amount |
| Loan limit (2026) | No limit with full entitlement; $832,750 baseline with partial entitlement | Floor $541,287; ceiling $1,249,125 by county |
| Occupancy | Primary residence required | Primary residence required |
| Can the monthly MIP end? | No monthly MIP exists | For loans after June 3, 2013 with under 10% down, annual MIP lasts for the life of the loan |
Sources: VA.gov funding fee and eligibility pages, and HUD FHA mortgage insurance premium schedule and 2026 FHA loan limits, all as of September 2026. A lender confirms the exact numbers for your loan amount, credit profile, and county.
Figures on this page reflect VA and HUD schedules as of September 2026. Rates, fees, and loan limits change over time, and the va.gov pages below are the primary references. A lender computes the numbers for your specific loan.
Tami Price is a U.S. Air Force veteran and Broker Owner of Tami Price Properties. She has coordinated VA financing across hundreds of military moves and closed VA loans and VA loan assumptions for clients in San Antonio. A short call with Tami can lay out the financing steps and the strategy for your move; your lender confirms the Certificate of Eligibility step, the funding fee on your loan amount, and the monthly payment you can plan around before you start looking.
Tami Price is a U.S. Air Force veteran and Broker Owner of Tami Price Properties, helping military families across San Antonio and Joint Base San Antonio.
More about Tami