Is it typical for a lender to charge a PMI on a VA loan?

I live in Las Vegas, NV and am purchasing a home. I want to go VA, because I don’t want to put anything down. However, my current lender-to-be is including mortgage insurance. I was told that VA loans don’t typically need PMI. I am wondering if I am getting screwed…

My fiance and I are interested in buying a home. On the VA website, it says he must have served 181 days of active duty. I’m assuming that going to boot camp counts as active duty, meaning that the day he shipped out to basic training counts as Day 1. Please correct me if I’m wrong, and please tell me how the 181 days is actually calculated.

Also, when he went into the credit union (Navy Federal) to ask about a VA loan and just get more information they told him he needs at least 5 years of good credit. Is this true? While researching all I saw was that the VA usually likes to see good credit for the last 12 months. He has not even had credit for 5 years, so if this is true it would make it impossible to get a VA loan.

Would it be easier to get a VA loan or FHA loan for us? There is no way we could get a conventional loan because we can’t afford the 20% down payment. We could scrape together enough cash for an FHA loan down payment, but it would probably drain our savings accounts and we would have to pay PMI. The reason we are looking into a VA loan is because of the 0% down payment and no PMI.

Getting the loan seems to be the hardest part right now. Once we are married and we receive BAH, the BAH alone will be almost 2x as much as the mortgage, so I’m not too worried about not being able to make the payment.

If it means anything, he has decent credit ( I don’t know his score) and I have good credit (between 720-740)

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