VA Home Loans

Earned benefits for veterans and active-duty service members — zero down, no PMI

The VA Home Loan Benefit

The VA home loan program is one of the most powerful financial benefits available to those who have served. Backed by the Department of Veterans Affairs, VA loans allow eligible borrowers to purchase a home with no down payment, no PMI, and competitive rates — in Utah and nationwide.

Zero Down Payment

No down payment required for eligible borrowers — the most powerful benefit in housing finance

No Private Mortgage Insurance

VA loans never require PMI regardless of down payment amount — saving hundreds per month

Competitive Rates

VA loans historically carry rates 0.25–0.5% below conventional — backed by the government guarantee

Limited Closing Costs

VA caps what lenders can charge; sellers can pay all closing costs on a VA loan

Eligibility & Requirements

Who Is Eligible

• Veterans with honorable discharge
• Active-duty service members (90+ days)
• National Guard / Reserves (6+ years or 90 days wartime)
• Surviving spouses of veterans who died in service

VA Funding Fee (2024)

• First use, 0% down: 2.15% of loan amount
• Subsequent use, 0% down: 3.3%
• Can be financed into the loan
• Waived for veterans with service-connected disability

Certificate of Eligibility (COE)

• Required before the loan can close
• Most lenders pull it directly from VA systems (takes minutes)
• Or request via eBenefits or VA Form 26-1880

Utah Military Context

• Hill Air Force Base (Davis County) — large VA loan market
• Dugway Proving Ground, Tooele County
• Utah National Guard installations across Wasatch Front

VA vs. Conventional: The Numbers

On a $450,000 purchase in Davis County:

VA Loan

• Down payment: $0
• PMI: $0/month
• Funding fee: ~$9,675 (financed)
• Total cash to close: ~$5,000–8,000 (closing costs only)

Conventional (5% down)

• Down payment: $22,500
• PMI: ~$150–200/month until 80% LTV
• No funding fee
• Total cash to close: ~$31,000+

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