Should I use a VA loan if I have 20% down?
Maybe. With 20% down, conventional avoids PMI entirely and often prices tightly. VA still avoids monthly MI but adds the funding fee (unless exempt). The right answer is a side-by-side: conventional at 20% down vs VA at the down-payment level you actually want to put down.
What this actually means.
Veterans with strong credit and 20% down have real choice. Conventional with no PMI at 20% down often beats VA on lifetime cost when the funding fee is paid (non-exempt borrower). For exempt borrowers (disabled veterans, surviving spouses), VA usually wins because there's no funding fee and no PMI either way. The hold period matters — a 30-year hold makes the funding fee small in monthly terms.
Where this can move.
Credit score, down payment, expected hold period, mortgage-insurance economics, property type, and funding-fee exemption can change which loan wins.
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More VA questions on VA vs Conventional.
Educational only. VA guidelines, lender overlays, rates, fees, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with the VA, HUD, or any government agency.