VA Loan vs FHA

VA: $0 down, no PMI ever, no minimum credit score from VA. FHA: 3.5% down minimum, monthly mortgage insurance for life of loan, 580 minimum score.

On $400K home: VA saves $14,000 down payment + ~$183/month in MIP ($65,880 over 30 years). VA funding fee (2.15% first use) is one-time vs FHA's lifetime MIP. Veterans with 10%+ disability pay $0 funding fee. VA wins in every category except very low credit scores (500–580).