Compare loan options
A VA loan, guaranteed by the U.S. Department of Veterans Affairs, lets eligible service members and veterans buy with no down payment and no monthly mortgage insurance. A conventional loan is open to everyone but typically asks for a down payment and mortgage insurance with a smaller down payment. For those who qualify, VA is one of the strongest benefits in lending.
Side by side
| VA loan | Conventional loan | |
|---|---|---|
| Backed by | Guaranteed by the U.S. Department of Veterans Affairs | Backed by private investors via Fannie Mae or Freddie Mac |
| Who qualifies | Eligible service members, veterans, and some surviving spouses | Open to any qualified borrower |
| Down payment | No down payment with full entitlement | A down payment, with more put down to avoid mortgage insurance |
| Mortgage insurance | None | PMI required with a smaller down payment, cancellable at 80% loan-to-value |
| One-time cost | VA funding fee (can be financed; waived for many with a service-connected disability) | No funding fee |
| Loan limits | No VA limit for borrowers with full entitlement (since 2020) | Bounded by the FHFA conforming limit |
Program details are set by the VA and the conventional investors named, summarized here for education. Funding-fee waivers and entitlement depend on your VA status; we verify your Certificate of Eligibility.
Which way to lean
Logan’s take: Colorado Springs is a military town, with the Academy, Fort Carson, Peterson, and Schriever nearby. When someone has earned the VA benefit, it usually wins outright, and we make sure the funding-fee and entitlement details are handled right.
Logan’s take: occasionally a strong conventional file pencils out close, especially with a larger down payment. We will tell you honestly when the VA edge is small.
In Colorado
Common questions
With full entitlement, yes, a VA loan allows a purchase with no down payment. We verify your entitlement through your Certificate of Eligibility before counting on it.
A one-time fee that helps sustain the program. It can usually be rolled into the loan, and many veterans with a service-connected disability are exempt. We confirm your status.
Not for borrowers with full entitlement since 2020. If you have used part of your entitlement elsewhere, limits can reappear, which we check up front.
Yes. The benefit is reusable, and entitlement can often be restored after a sale or refinance. We help you plan around that.
Keep exploring
Often the lower long-run cost when credit and savings are strong.
Learn moreGovernment-insured flexibility for lower credit and smaller down payments.
Learn moreSee every side-by-side in one place.
Learn moreThis comparison is general education, not a commitment to lend or a guarantee of any rate, term, or program eligibility. Program rules are set by the agencies and investors named and change over time; we confirm current guidelines against your specific situation. All loans subject to credit approval; not all applicants qualify.
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