🪖 The 7 Biggest VA Loan Myths — Busted

Andrew Georgitsis
Oct 31
2 min read

Updated: Oct 31

If you’ve served our country, you’ve earned one of the most powerful homeownership benefits in America — the VA Loan. Yet, misinformation still keeps many qualified veterans and service members on the sidelines. Let’s clear the air.

💥 Myth #1: You Can’t Get a VA Loan With Bad Credit

Truth: There is no set minimum credit score for VA loans.Each lender sets its own standards, and many approve loans even with credit considered “less than perfect.” What matters most is your recent payment history and your ability to repay — not an arbitrary score.

💥 Myth #2: Only Combat Veterans Qualify

Truth: You don’t have to be a combat veteran.You may be eligible if you are:

Active-Duty Service Member
Reservist or National Guard Member
Surviving Spouse of a Veteran
Academy Cadet or Midshipman
Officer of the National Oceanic & Atmospheric Administration (NOAA)
Officer of the U.S. Public Health Service

💥 Myth #3: You Can Only Use Your VA Loan Benefit Once

Truth: Once you’ve earned your VA entitlement, it’s yours for life.You can use it every time you buy or refinance — from your starter home to your dream home. Sell, pay off, restore, and reuse — as many times as you need.

💥 Myth #4: VA Loans Have Surprise Costs

Truth: There are no hidden or surprise costs.While there is a standard VA funding fee (which can even be rolled into the loan), VA loans eliminate common expenses like mortgage insurance, large down payments, or origination fees — saving you thousands upfront.

💥 Myth #5: VA Loans Have Higher Interest Rates

Truth: It’s actually the opposite.VA loans often come with lower interest rates than conventional financing — one of the key reasons they’re among the best deals in the market for eligible buyers.

💥 Myth #6: VA Loans Take Longer to Close

Truth: When you work with a knowledgeable VA-approved lender, VA loans close in roughly the same time as a conventional mortgage.Delays typically occur only with lenders unfamiliar with the VA process — not the loan itself.

💥 Myth #7: You Can’t Use a VA Loan If You’re Stationed Overseas

Truth: You can.If you’re actively serving abroad but plan to return within a year — or if your spouse will occupy the home — you can still qualify. The VA designed this flexibility specifically for service members on deployment.

🇺🇸 Final Thought

The VA Loan is one of the most flexible and rewarding programs available — and yet, it’s still one of the most misunderstood. Whether you’re buying your first home or refinancing at a lower rate, my team and I have partnered with top VA mortgage brokers in San Diego to help you maximize your benefits — including zero down, no mortgage insurance, and no 1% origination fee.