Should I use a VA loan if I have 20% down?
Maybe. At 20% down, Conventional generally avoids PMI, while a non-exempt VA borrower may still pay a funding fee. An exempt VA borrower avoids that fee. Compare both at the down payment you actually want to use and the time you expect to keep the mortgage.
What this actually means.
With strong credit and 20% down, Conventional may produce a lower complete cost because PMI is not part of the comparison and VA's funding fee may apply. A funding-fee exemption changes that math, but it still does not make rate, closing costs or timeline identical. Compare the same cash contribution, complete payment, cash remaining and projected balance at the expected exit date before choosing.
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.