VA Loan Success: $0 Down and No PMI for This Navy Veteran
- By Jim Blackburn
- on
Client Profile
- Name: Jason T.
- Age: 35
- Service: U.S. Navy Veteran (6 years active duty)
- Location: Jacksonville, FL
- Home Type: 4-bed single-family home
- Purchase Price: $375,000
- Loan Type: VA 30-Year Fixed
- Down Payment: $0
- Credit Score: 702
The Challenge
Jason had recently transitioned out of the military and was starting a new civilian job. With a wife, two kids, and a VA Certificate of Eligibility in hand, he wanted to stop renting and plant roots—but he assumed he’d need to wait until he saved a 10%–20% down payment.
He also wasn’t aware of the no PMI benefit or how competitive VA loan rates could be.
The Strategy
We walked Jason through the VA loan process and showed him he could buy with no money down, and with no private mortgage insurance (PMI)—a major savings compared to FHA or conventional options.
- Locked a 30-year fixed rate at 6.125%
- $0 down required
- Seller paid 2.5% in closing costs
- Total out-of-pocket at closing: under $1,400
- Monthly payment was less than his previous rent—and included taxes & insurance
The Outcome
- Jason bought a home within 45 days of applying
- He’s already gained $12,000+ in equity based on market appreciation
- He has no PMI and a fixed monthly payment that fits his new salary
- He’s now referring fellow veterans in his unit to use their VA benefits
Quote from Jason:
“I didn’t know I could qualify with zero down. I was wasting money on rent, but now every payment is going toward something I actually own—and can pass down.”
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