Updated November 11, 2026
Short answer
No. VA says VA-backed purchase loans don't require private mortgage insurance (PMI) or mortgage insurance premiums. Most borrowers pay a one-time funding fee instead.
Why it matters
On a conventional loan, PMI is usually required with less than 20% down. VA lists "no need for PMI or MIP" as a benefit (VA.gov). The funding fee is a one-time charge, and some veterans are exempt (VA.gov).
Talk it through
Buying in Tampa Bay? Krystal Crichlow with eXp Realty works with VA buyers. Anywhere else in the U.S., she can refer you to a VA-experienced local agent at no cost to you. Use the form to tell us where and when.
Disclosure: TheBayPros' owner is related to Krystal Crichlow (eXp Realty), who may be among the agents introduced to you. You can choose any agent you like. We are not a lender and do not make loans. General information from VA.gov; rules change, so confirm with VA and your lender.