Which type of loan would never have mortgage insurance?

The option indicating a VA loan with nothing down is accurate because VA loans are specifically designed for eligible veterans and active-duty service members, and they do not require mortgage insurance regardless of the down payment. This is a significant benefit since VA loans aim to make homeownership more accessible for veterans, recognizing their service.

In contrast, traditional conforming loans and FHA loans typically require mortgage insurance under certain conditions, particularly when the down payment is less than 20%. Jumbo loans, which exceed the conforming loan limits, may also require private mortgage insurance if the down payment is below a certain threshold. However, VA loans uniquely stand out due to this exemption, making them a powerful financing option for veterans.