The VA Home Loan: Top 6 Benefits

(and even some myths... debunked!)

If you’re a military service member, veteran, or eligible spouse looking to buy a home near Fort Liberty/Fort Bragg, NC, the VA Home Loan is one of the most valuable benefits available to you. It offers a path to homeownership with no down payment, competitive interest rates, and flexible qualification requirements—but there are also plenty of myths floating around that might make some hesitant to use it.

Let’s break down the key benefits. 
And keep reading to debunk some common myths!

Top Benefits of the VA Home Loan

No Down Payment Required

Unlike conventional loans that often require a 5-20% down payment, VA loans allow eligible buyers to purchase a home with $0 down—a major advantage for military families moving frequently.

No Private Mortgage Insurance (PMI)

Most loans with less than a 20% down payment require PMI, which adds an extra cost to your monthly mortgage. VA loans eliminate this expense, making homeownership more affordable.

Lower Interest Rates

VA loans typically have lower interest rates compared to conventional loans, helping you save thousands over the life of your loan.

Flexible Credit Requirements

While lenders still review credit history, VA loans tend to be more forgiving of lower credit scores than conventional loans.

No Prepayment Penalties

You can pay off your loan early without worrying about extra fees—something that’s not always the case with other loan types.

Help for Struggling Homeowners

If you ever face financial hardship, the VA provides loan assistance programs to help avoid foreclosure.

Common Myths About VA Loans—Busted!

Myth #1: VA Loans Take Too Long to Close

Truth: VA loans typically close just as fast as conventional loans. With an experienced lender and real estate agent (like me!), the process can be smooth and efficient.

Myth #2: VA Loans Can Only Be Used Once

Truth: You can use your VA loan benefit multiple times! Whether you're buying again or refinancing, your VA loan can be used throughout your lifetime.

Myth #3: VA Loans Can Only Be Used for Single-Family Homes

Truth: VA loans can be used for townhomes, condos (VA-approved), and even multi-family homes (as long as you live in one of the units).

Myth #4: VA Loans Are Only for Active-Duty Service Members

Truth: VA loans are available to veterans, active-duty service members, National Guard members, and eligible surviving spouses.

Myth #5: VA Loans Mean Higher Closing Costs

Truth: VA loans limit the amount buyers can be charged in closing costs, often making them lower than other loan types.

Is a VA Loan Right for You?

If you're relocating to Fort Bragg/Fort Liberty or the surrounding area, using your VA loan benefit can make homeownership more accessible and affordable. Whether you’re buying your first home or upgrading to a new one, understanding your benefits is the first step. 

Thinking about using your VA loan? I can connect you with VA-approved lenders and help you navigate the homebuying process with confidence. Message me so we can sit down and have a more thorough chat about your specific situation and how we can use the VA loan to help you secure your new home. Contact me below!