A private briefing for those who served
VA home loans
For veterans, service members and eligible surviving spouses.
With full entitlement, a VA loan can finance the whole price with no mortgage insurance and no VA loan limit. It changes the arithmetic of almost every property you model.
| Down payment with full entitlement | None requiredVA.gov, purchase loans · updated 7 Jan 2026 |
|---|---|
| VA loan limit with full entitlement | None; lender approval and the appraisal still applyVA.gov, loan limits · updated 12 Aug 2025 |
| Funding fee, first use, under 5% down | 2.15%VA.gov, funding fee · updated 5 Oct 2026 |
| Funding fee, later use, under 5% down | 3.3%VA.gov, funding fee · updated 5 Oct 2026 |
| With 5% down / 10% down | 1.5% / 1.25%VA.gov, funding fee · updated 5 Oct 2026 |
| Interest rate reduction refinance (IRRRL) | 0.5% funding feeVA.gov, funding fee · updated 5 Oct 2026 |
Who pays no funding fee
Veterans receiving compensation for a service-connected disability (or eligible for it but receiving retirement or active-duty pay instead), surviving spouses receiving Dependency and Indemnity Compensation, service members with a proposed or memorandum rating before discharge, and active-duty Purple Heart recipients.
House hacking, properly
The home must be your main residence, but a building of up to four units qualifies when you live in one of them. We model the other units' rent against the full mortgage, so you can see when the building pays for itself.
Manhattan's catch: approved buildings
VA financing works only in condominium projects the VA has approved, and most Manhattan apartments are co-ops. Every dossier shows whether its building is VA-approved before you fall for it.
Side by side, honestly
Every VA model sits next to the conventional and jumbo alternatives on a total-cost basis, including the funding fee, so you can see when putting money down wins instead.