A conventional loan at $500,000 with a 3% rate gives you a payment of $2,108.02 per month, while a VA loan at 2.5% gives you a payment of $1,975.60. The difference is $132.42 per month; $1,589.04. over the course of a year; or $7,945.20 over five years. That's a significant savings.
VA zero down home loans typically have rates 1/2% lower than conventional loans. Maybe that doesn't much to you, but if you live in a $500,000 house, and plan to live in your house for five years, you would save almost $8,000 on your home loan.
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