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Should I use a VA loan or conventional loan?

A VA loan asks for nothing down and charges no mortgage insurance, but it adds a funding fee to the loan. A conventional loan skips the fee and wants a down payment, plus PMI until you reach 20% equity. Put both side by side.

The purchase

SHARED
$
$
$

Set these independently. VA asks for nothing down, so $0 is the usual case — but money down there buys a cheaper funding fee tier, and the same cash may be worth more on the conventional side, where it cuts PMI instead.

yrs

Rates and fees

TERMS
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%
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Enter the price, both rates and a term to compare the two loans.

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How the VA funding fee compares with PMIA written guide to the rules behind this calculator →
For educational purposes only. Funding fee tiers are VA's published schedule. PMI figures are representative, not quotes: mortgage insurers now price each loan individually rather than from a published card, so these are calibrated against an archived rate card by credit score and loan-to-value. VA eligibility rules change. Confirm both with a lender before deciding.