Do VA Loans Require Mortgage Insurance for Brevard County Veterans?
VA loan mortgage insurance is one of the most misunderstood parts of the VA home loan program. The good news for Brevard County veterans is that VA loans do not require monthly mortgage insurance — regardless of down payment.
This single benefit is a major reason VA loans are often more affordable than conventional or FHA loans for veterans on Florida’s Space Coast.
Do VA Loans Require Mortgage Insurance?
Short answer: No.
VA loans do not require monthly mortgage insurance (PMI) at any down payment level. This applies whether you put 0% down or choose to make a down payment.
Because there’s no PMI, VA loans often result in lower monthly payments compared to other loan programs.
How Mortgage Insurance Works on Other Loans
With most conventional loans, buyers who put down less than 20% are required to pay private mortgage insurance (PMI).
PMI:
Protects the lender — not the borrower
Adds to the monthly payment
Can cost hundreds of dollars per month
Over the life of a loan, PMI can add up to thousands of dollars with no long-term benefit to the homeowner.
Why VA Loans Don’t Have Monthly Mortgage Insurance
VA loans were designed to help veterans achieve homeownership without unnecessary barriers.
Instead of charging monthly mortgage insurance, the VA uses a one-time funding fee to help support the program.
Many veterans are exempt from this fee entirely, including those who:
Have a service-connected disability
Are eligible surviving spouses
Qualify for other VA funding fee exemptions
Even when the funding fee applies, VA loans often still cost less over time than loans with ongoing monthly mortgage insurance.
What This Means for Veterans on the Space Coast
Veterans purchasing homes in:
Melbourne
Palm Bay
Viera
Titusville
Rockledge
Cocoa
…often benefit from lower monthly payments and increased buying power because VA loans eliminate PMI.
For service members stationed at Patrick Space Force Base, this benefit can make homeownership more achievable without stretching the household budget.
Use the Benefit You Earned
Mortgage insurance is one of the biggest hidden costs in homeownership — and VA loans remove it completely.
You served your country.
This benefit exists to serve you back.
👉 See how much you could save each month with a VA loan:
https://morganfinancial.net/va-loan-resource/
