$350,000 home purchase — VA vs Conventional vs FHA compared.
vs conventional over 7 years · $71,000+ in lifetime PMI savings
$0
vs $17,500 FHA · $70,000 conventional (20%)$0 / mo
Never required on VA loans~6.5%
0.5–0.75% lower than conventional$2,241
$234/mo less than conventional| VA Loan ✅ | Conventional | FHA | |
|---|---|---|---|
| Down payment | 0% | 5% | 3.5% |
| PMI / MIP | None | ~$175/mo | ~$212/mo |
| Interest rate | ~6.5% | ~7.1% | ~6.9% |
| Monthly payment | $2,241 | $2,475 | $2,504 |
| 7-yr savings vs conv. | $12,674 | — | −$2,266 |