VA loan

A zero-down mortgage backed by the Department of Veterans Affairs, available to qualified military borrowers.

VA loans require zero down payment, no PMI, and offer below-market interest rates. Available to active-duty military, veterans, and certain reservists/guard members. Owner-occupancy required (primary residence for at least 12 months). Investor angle: same as FHA — house hack a 2-4 unit, live in one, rent the others. The VA loan is also assumable, which becomes valuable in high-rate environments. The funding fee (1.25-3.3% of loan, financed) is the main cost; it can be waived for disabled veterans.