Many Veterans Don’t Know about This VA Home Loan Benefit

For 80 years, Veterans Affairs (VA) home loans have helped countless Veterans buy a home. But even though a lot of Veterans have access to this powerful program, the majority don't know about one of its core benefits.

According to a report from Veterans United only 3 in 10 Veterans are aware they may be able to buy a home with no down payment with a VA loan (see visual below):

 

That means 7 out of every 10 Veterans could be missing out on a key homebuying advantage.

That’s why it’s so important for Veterans, and anyone who cares about a Veteran, to be aware of this program. As Veterans United explains, VA home loans:

“. . . come with a list of big-time benefits, including $0 down payment, no mortgage insurance, flexible and forgiving credit guidelines and the industry's lowest average fixed interest rates.”

The Benefits of VA Home Loans
These loans are designed to make buying a home more achievable for those who have served. And, by extension, they also give their families the opportunity to plant roots and build equity in a home of their own. Here are some of the biggest advantages for this type of loan according to the Department of Veterans Affairs:

Options for No Down Payment: One of the biggest perks is that many Veterans can buy a home with no down payment at all.
Limited Closing Costs: With VA loans, there are limits on the types of closing costs Veterans have to pay. This helps keep more money in your pocket when you’re finalizing your purchase.
No Private Mortgage Insurance (PMI): Unlike many other loan types, VA loans don’t require PMI, even with lower down payments. This means lower monthly payments, which can add up to big savings over time.

If you want to learn more, your best resource for all the options and advantages of VA loans is your team of expert real estate professionals, including a local agent and a trusted lender.

 

VA home loans offer life-changing assistance, and a trusted lender and agent can help make sure you understand the details and are ready to move forward with a solid plan.

Do you know if you’re eligible for a VA home loan? Talk to a trusted lender who can help you see if you’d qualify.

 

 

Success Story!

 

We first helped our sellers purchase this beautiful home back in September 2022. Life took a turn, and this spring they decided it was time to sell and move back to Washington State. Over the years, they invested over $100,000 in upgrades and additions, so we priced the home accordingly to reflect its value.

It took 35 days on the market before we received an accepted offer and as always, there were a few bumps along the way. One of them was when the VA appraiser triggered “Tidewater,” meaning they believed the value might come in lower than the agreed price. I immediately gathered additional comps and a detailed rationale for the valuation, and thankfully, the final appraisal came in $5,000 over the agreed price!

 
Our sellers are in Washington and bought a new home! Always feels good helping clients close one chapter strong and start the next with a fresh set of keys.

Huge thanks to Amanda Charles for being great to work with on the other side and to my team for another job well done. Another success story that came full circle.