VA loans offer 0% down and no monthly mortgage insurance for those who qualify — here's how they compare to FHA, and how to choose.
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If you're an eligible veteran, active-duty service member, or surviving spouse, a VA loan is usually the stronger option — but FHA is open to everyone. Here's the comparison.
| Feature | FHA Loan | VA Loan |
|---|---|---|
| Down payment | 3.5% | 0% down |
| Eligibility | Open to most buyers | Veterans, service members, eligible spouses |
| Mortgage insurance | MIP required | No monthly MI (one-time funding fee) |
| Credit flexibility | 580+ typical | Lender-set; often flexible |
| Funding/upfront fee | 1.75% upfront MIP | VA funding fee (waived for some) |
If you qualify for a VA loan, it's hard to beat: no down payment and no monthly mortgage insurance. FHA is the go-to when you're not VA-eligible but still want a low down payment and flexible credit. We can confirm your VA eligibility and compare both.
Get a free review comparing FHA and VA loan options in Florida.
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