VA loan vs conventional loan
Both are good loans. The right one depends on your down payment, credit and how long you will keep the home.
Side by side
| VA loan | Conventional loan | |
|---|---|---|
| Who can use it | Eligible veterans, service members and some spouses | Anyone who qualifies |
| Monthly mortgage insurance | None | Usually required with less than 20% down |
| One-time VA funding fee | Yes, unless exempt | No |
| Down payment | Often less than conventional | Varies by program |
| Property rules | VA appraisal and minimum property requirements | Standard appraisal |
| Occupancy | Must be your primary home | Primary, second home or investment |
When VA tends to win
- You are putting less than 20% down
- Your credit is fair and you want to avoid monthly mortgage insurance
- You plan to live in the home
- Your funding fee is waived because of a service-connected disability
When conventional can win
- You are making a large down payment and the funding fee would be unnecessary
- You want to buy an investment property or second home
- The property will not meet VA minimum property requirements
- You have already used a lot of VA entitlement
I will run both with your actual numbers so you can compare payment and cash to close.
Questions
Is a VA loan always cheaper?
Not always. The funding fee and your down payment matter. I compare the total cost on both loans for your price range.
Can I use a VA loan more than once?
Yes. Entitlement can be restored or you may have remaining entitlement. Ask me about your situation.
Get a comparison
Call me with your price range and I will show you both.
Many veterans pay no funding fee
Veterans who receive VA disability compensation, Purple Heart recipients on active duty, and certain surviving spouses are exempt from the VA funding fee. On a typical loan that can save thousands of dollars. Your Certificate of Eligibility shows whether you qualify. See the funding fee guide or call or text me and I will check for you.
Questions about your VA loan?
Call or text me and I will review your options.
VA Loans Kansas City · Steven Clune, Loan Officer, NMLS #2798604 · Nexa Lending, NMLS #1660690 · Rochon Mortgage Team, 1475 Walnut St, Kansas City, MO 64106 · 913.530.8133
This website is not affiliated with or endorsed by the U.S. Department of Veterans Affairs or any other government agency. Equal Housing Opportunity. This is not a commitment to lend. All loans are subject to credit approval, VA eligibility and program guidelines. Terms are subject to change without notice. Verify licensing at nmlsconsumeraccess.org. More loan programs at Mortgage Champ KC.