Many Veterans Don’t Know about This VA Home Loan Benefit
VA Home Loan Benefits: What Every Veteran Should Know
For over 80 years, VA home loan benefits have empowered millions of Veterans to achieve homeownership. Yet, surprisingly, a majority still don’t know about one of the program’s most powerful features.
According to Veterans United, only 3 in 10 Veterans are aware that they may qualify to buy a home with no down payment through a VA loan. That means 70% of eligible buyers could be missing out on one of the top VA home loan benefits available today.
Why is this so important?
Because VA home loan benefits are designed to make homeownership more accessible for those who’ve served. As highlighted by Veterans United, these loans offer:
- $0 Down Payment
- No Private Mortgage Insurance (PMI)
- Flexible Credit Guidelines
- Some of the Lowest Average Fixed Rates in the Industry
Think about that. Just in the time it took you to read this, 8 homes sold.
Beyond saving upfront costs, these VA home loan benefits help Veterans and their families plant roots and build wealth through homeownership.
Here’s a closer look at the advantages:
- No Down Payment: Many Veterans can purchase a home without needing to save for a large down payment.
- Limited Closing Costs: VA loans limit the types of closing fees, saving you more at settlement.
- No PMI: Unlike other loan types, VA loans don’t require monthly PMI—even with little or no down payment—translating into meaningful monthly savings.
Bottom line
VA home loan benefits are a powerful, often underused tool. If you’re a Veteran—or you love one—connect with a local real estate agent and trusted lender to find out if you’re eligible. Understanding these VA home loan benefits could be the key to unlocking your future home.