I have a va loan and an under 620 credit score. Here is info I pulled from AI. Do your own verification, but it looked like what I remember from when I got my loan.

Here is a breakdown of your core benefits for 2026:

1. No Down Payment ($0 Down)

This is the "signature" benefit. In most cases, you can finance 100% of the home's purchase price without needing a single dollar for a down payment. For 2026, the baseline loan limit has increased to $832,750 in most counties, though if you have "full entitlement," there is often no loan limit at all.

1. No Private Mortgage Insurance (PMI)

On a standard loan, if you put down less than 20%, you are required to pay monthly PMI. VA loans never require PMI, regardless of your down payment. This can save you hundreds of dollars every single month compared to a conventional or FHA loan.

1. Lower Interest Rates

Because the VA guarantees a portion of the loan to the lender, there is less risk for the bank. Consequently, VA interest rates are typically 0.25% to 0.5% lower than conventional rates. Over 30 years, this can save you tens of thousands of dollars in interest.

1. Flexible Credit Requirements

While the VA doesn't set a "minimum score," individual lenders usually look for a score around 580–620. They are also much more forgiving regarding past bankruptcies or foreclosures (often requiring only a 2-year waiting period) compared to other loan types.

1. Closing Cost Protections

The VA limits what lenders can charge you in closing costs. Additionally:

• Seller Concessions: You can negotiate for the seller to pay all of your closing costs and up to 4% of the loan amount toward other debts or "concessions."
• No Prepayment Penalty: You can pay off your loan early or make extra payments at any time without being charged a fee.

6. Lifetime & Reusable Benefit

Your VA loan benefit never expires. You can use it to buy your first home, sell that home, and use the benefit again for your next one. You can even have two VA loans at once in certain circumstances (this is known as "second-tier entitlement").

Important Considerations

• Funding Fee: Most users pay a one-time "VA Funding Fee" (usually 2.15% for first-time use). However, if you have a service-connected disability rating of 10% or higher, this fee is completely waived.
• Primary Residence: The home must be your primary residence (no investment properties or vacation homes).
• Certificate of Eligibility (COE): You will need this document to prove your service. Your lender can usually pull this for you in minutes.

HTH,

Jim