VA loans are guaranteed by the Department of Veterans Affairs for eligible service members and veterans: 0% down, no monthly mortgage insurance. A one-time funding fee (2.30% first use at 0% down, or 0% if you're exempt for VA disability) replaces PMI. With full entitlement there's no loan-limit cap.
A high-cost market with a large jumbo share and co-op/condo nuances that shape financing. Because local prices often top the 2026 conforming limit of $832,750, many New York buyers using this route also look at jumbo financing.
Do VA loans really require no down payment?
Yes — eligible borrowers with full entitlement can finance 100%, subject to the lender's limits.
What is the VA funding fee?
A one-time fee (2.30% first use at 0% down) that replaces mortgage insurance; VA-disability recipients are typically exempt.
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