5 VA Loan Benefits That Save You Money

VA loans aren't just easier to qualify for — they're built to save military borrowers money. Here are five of the biggest advantages.

1. No down payment

Most VA buyers finance 100% of the purchase price. That removes the single biggest barrier to homeownership: saving up tens of thousands of dollars for a down payment.

2. No private mortgage insurance (PMI)

Conventional loans usually charge PMI when you put down less than 20%. VA loans never require monthly mortgage insurance, which can save hundreds of dollars every month.

3. Competitive interest rates

Because the VA partially guarantees each loan, lenders take on less risk — and that often translates into lower interest rates than comparable conventional loans.

4. Limited closing costs

The VA limits which closing costs you can be charged, and sellers are allowed to pay many of them on your behalf. This keeps more cash in your pocket at closing.

5. A reusable, lifelong benefit

The VA loan benefit doesn't expire, and you can use it more than once. As long as you meet the requirements, it's there for your next home, too.

Put the savings in perspective

Skipping a down payment and monthly PMI can be worth tens of thousands of dollars over the life of a loan. That's the difference this benefit was designed to make.

Want to see if you may qualify? Our eligibility guide is a good place to start. Only the VA and a VA-approved lender can confirm your actual terms.