Compare VA home loan options and total borrowing costs

How VA-backed loans differ

• Qualified borrowers may be able to purchase without a down payment
• VA loans do not require monthly private mortgage insurance
• A program funding fee may apply unless the borrower is exempt
• The home generally must be occupied as a primary residence
• The property must meet appraisal and minimum property requirements
• The lender still reviews income, debts, credit, and ability to repay

Purchase and refinance choices

VA purchase loans finance eligible primary residences. The Interest Rate Reduction Refinance Loan is designed for refinancing an existing VA loan, while a VA-backed cash-out refinance follows different requirements. Ask lenders which option matches your current mortgage and goal.

Compare the complete offer

• Interest rate and APR
• Funding fee amount and whether it is financed
• Discount points and lender credits
• Cash needed at closing
• Monthly principal, interest, taxes, and insurance
• Rate-lock period and closing timeline

Confirm eligibility and approval

A Certificate of Eligibility helps document VA benefit eligibility, but the lender makes the credit decision. Compare lenders using the same property, loan amount, term, and lock period so the costs are meaningful.