How much down payment do you need for a VA loan?
Zero. VA loans offer 100% financing for eligible veterans, active-duty service members, and qualifying spouses — no down payment required. You can choose to put money down if you'd like, but you don't have to. It's one of the strongest loan programs available, with no monthly mortgage insurance.
Key takeaways
VA loans are one of the best programs out there, and our veterans have earned every bit of it. You can finance 100% of the purchase with no down payment, though you're always welcome to put money down if you'd like. If you've served, let's make sure you're taking full advantage of the benefit you earned.
What is a VA loan?
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs and available to eligible veterans, active-duty service members, National Guard and Reserve members, and many surviving spouses. In my opinion it's one of the best loan programs available — and it's a benefit you earned through your service. Let's make sure you're using all of it.
How VA compares to other loans
For a veteran, the VA loan usually beats every other option on the things that matter most:
| Feature | VA | FHA | Conventional |
|---|---|---|---|
| Down payment | 0% | 3.5% | 3% |
| Monthly mortgage insurance | None | Yes | Yes (removable) |
| Loan limit (full entitlement) | None | County cap | County cap |
| One-time fee | Funding fee (often waived) | 1.75% upfront | None |
That combination — zero down and no monthly mortgage insurance — is why a VA payment is often lower than a comparable FHA or conventional loan.
What you'll need: your Certificate of Eligibility
VA loans require a Certificate of Eligibility (COE) confirming your service qualifies. I can usually pull your COE for you as part of getting pre-approved, so the paperwork rarely slows anything down. You can still put money down if you'd like, but you don't have to.
The VA funding fee
Instead of monthly mortgage insurance, VA charges a one-time funding fee that's typically rolled into the loan. It varies based on your down payment and whether you've used the benefit before — and it's waived entirely for veterans with a service-connected disability rating. I'll tell you your exact fee up front, no surprises.
Being honest about the tradeoffs
VA loans are excellent, but it's fair to know the few catches:
- The home must be your primary residence — not a pure investment
- The property has to pass a VA appraisal that holds it to certain condition standards
- In a heated bidding war, some sellers wrongly assume a VA offer is weaker — which is where a lender who can vouch for your strength as a buyer makes the difference
For the vast majority of veterans, the zero-down, no-PMI structure far outweighs these.
Pairing with New Hampshire Housing
VA is one of the loan types eligible for New Hampshire Housing's programs, so in some cases you can layer state down payment and closing-cost assistance on top. Most veterans don't need it — the VA's zero-down structure already removes the down payment hurdle — but I'll always check so you never leave a benefit on the table.
VA loan limits in New Hampshire
With full entitlement, there is no VA loan limit — you can finance as much as you qualify for with zero down, anywhere in New Hampshire. Limits only come into play with reduced entitlement, for example if you already have an active VA loan. I'll review your COE and tell you exactly where you stand.
If you've served, let's talk through your entitlement and get you into a home with the benefit you earned.
Frequently asked questions
Do VA loans require mortgage insurance?
No. VA loans have no monthly mortgage insurance, which keeps the payment lower than a comparable low-down-payment FHA or conventional loan. There is a one-time VA funding fee, which can often be financed into the loan, and some veterans are exempt from it.
What is the downside of a VA loan?
There are only a few. The home has to be your primary residence, so VA isn't for pure investment properties; the property must pass a VA appraisal with certain condition standards; and there's a one-time funding fee (waived if you have a service-connected disability). Occasionally a seller wrongly assumes a VA offer is weaker — I help counter that by vouching for your strength as a buyer. For most veterans the zero-down, no-PMI structure far outweighs these.
How much do I need to make to buy a $400,000 house with a VA loan?
Often less than you'd think, because VA requires no down payment and no monthly mortgage insurance — so more of your income goes toward the actual payment. As a rough guide many buyers are comfortable around the $90,000–$110,000 income range for a $400,000 home, but it depends on your other debts, your residual income, and your town's property taxes. I'll run your real numbers so there's no guessing.
Do I need a Certificate of Eligibility, and how do I get one?
Yes — the COE confirms your service qualifies for the VA benefit. Most veterans, active-duty members, Guard, Reserves, and many surviving spouses are eligible. I can usually pull your COE for you quickly as part of getting pre-approved, so it rarely slows anything down.
Can I use New Hampshire down payment assistance with a VA loan?
Often yes — VA is an eligible loan type for New Hampshire Housing's programs, so state down payment and closing-cost assistance can sometimes layer on top. For most veterans it isn't necessary, since the VA already offers 100% financing with no down payment, but I'll always check whether it adds value for you.
Is there a VA loan limit in New Hampshire?
If you have full VA entitlement, there is no loan limit — you can finance as much as you qualify for with zero down, whether you're buying in Nashua, Manchester, or anywhere else in New Hampshire. Limits only come into play if you have reduced entitlement, for example because you already have an active VA loan. I'll review your Certificate of Eligibility and tell you exactly where you stand.