0 % Down Payment Loan VA

No down payment: VA loan

The VA guarantees purchase mortgages with no required down payment for qualified veterans, active-duty service members and certain members of the National Guard and Reserves. Private lenders originate VA loans, which the VA guarantees. There is no mortgage insurance. The borrower pays a funding fee, which can be rolled into the loan amount.

For purchase and construction loans, the VA funding fee varies, depending on the size of the down payment, whether the borrower served or serves in the regular military or in the Reserves or National Guard, and whether it's the veteran's first VA loan or a subsequent loan. The funding fee can be as low as 1.25% or as high as 3.3%.

For 1st-time purchasers making no down payment, the funding fee is 2.15% for members or veterans of the regulator military, and 2.4% for those who qualify through service in the Reserves or National Guard.

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