5 Common Myths Debunked About VA Home Loans


Veterans and active-duty service members deserve clear information about VA loans. Buying a home is stressful enough without myths adding confusion.

This guide tackles five common misconceptions about VA loans, empowering you to make informed decisions about your dream home. Let’s get started!

Myth 1: You need perfect credit.

Worried your credit score isn’t high enough for a VA Loan? Don’t let that myth stop you!

VA Loans are designed to be more accessible than regular loans, with credit score requirements often lower than you think.

While many lenders look for scores in the 620s or even 640s, some, like HomePromise, consider scores as low as 580. So, take a deep breath and explore your options!

HomePromise can guide you through the process and help you understand your qualification potential, even with a less-than-perfect credit score.

Remember, owning a home is possible, and HomePromise is here to help veterans and active-duty members navigate the VA Loan process and achieve their dream. Call now at 800-720-0250.

Myth 2: You can only use your benefit once.

It’s easy to mistakenly view the VA Home Loan benefit as a single-use perk. Imagine it more like a refillable wellspring based on your service record.

Whether you’re starting a family, relocating for a new job, or simply craving a change of scenery, your VA benefit refreshes with each new chapter of your life, ready to assist you.

The flexibility and possibilities that come with your VA Home Loan benefit are a lifelong resource at your service.

Myth 3: VA loans take forever to close.

Many people think VA loans are hard to get done. That’s simply not true.

Most VA loans don’t take longer than comparable FHA loans insured by the US Department of Housing and Urban Development.

Don’t be afraid to use your VA home loan benefits. Explore the possibilities and use your VA benefit to your advantage!

Myth 4: You need a 20% down payment.

Many people mistakenly believe you need a down payment for a VA loan. This can be discouraging!

The good news is, VA loans are known for their zero down payment requirement. This special perk makes it easier for veterans and active-duty members to become homeowners, even if they haven’t saved a large amount.

So skip the down payment worry and focus on finding your dream home with the help of your VA loan.

Myth 5: VA loans are only for single-family homes.

The myth that VA loans are only for single-family homes isn’t true!

VA loans let you buy condos, townhouses, and even manufactured homes under certain conditions. Whether your dream is a vibrant city condo or a spacious suburban townhouse, your options are as diverse as your needs.

Explore freely and find a home that perfectly fits your lifestyle and dreams. Let go of the limitations and unlock your dream home with the flexibility of a VA loan.

Beyond the Myths: Key Insights for a Smooth Journey

Knowing the truth about VA loans helps you buy a house easier! Here are some more insights so you can make good choices when buying your dream home:

  • The VA acts as a guarantor of your loan, Not a Lender: The VA helps veterans buy homes by working with lenders like HomePromise. But they don’t lend money themselves. So, compare rates and terms from different lenders to find the best deal for your budget. Ask questions and understand everything before you choose a loan. Call HomePromise at 800-720-0250 and get a free quote.


  • Embrace Potential Fixer-Uppers: VA loans let you fix up a house before you buy it, as long as the work meets certain rules and finishes before closing. This means you can find a house with potential and make it your own, just the way you like it! The home you choose still has to be habitable and meet VA minimum property standards. Call HomePromise and we’ll explain what’s possible.


  • Overseas Service Shouldn’t Be a Barrier: Serving overseas doesn’t necessarily stop you from buying a home! Special rules help service members abroad get VA loans. VA home loan experts at HomePromise can guide you through the process, even from far away. Remember, you deserve to achieve your dream of homeownership, no matter where you serve. Call now at 800-720-0250.


Stepping Into Your Dream Home: You Hold the Key

You’ve learned the truth about VA loans, so you’re ready to buy your dream home! This program helps veterans and active-duty members become homeowners.

Compare different lenders and ask questions to find the best deal. Experts like HomePromise can also help you through the process.

Once you do your homework, you’ll unlock the door to your own home, full of happiness and security. 


Additional Tips for Your Journey:

  • Get Pre-Qualified: Don’t jump into house hunting just yet! Before diving in, get pre-qualified for a VA Loan. This helps you understand your budget, narrowing down your search to homes you can truly afford. Also, a pre-qualification letter makes your offer look stronger to sellers! This quick step helps you buy smarter, so do it before looking for your dream home.

  • Connect with Veteran-Focused Resources: Don’t go it alone! Many experts can help veterans buy homes. These groups can answer your questions, explain the VA loan process, and even help with paperwork. Find veteran-focused resources near you and get the support you deserve. HomePromise specializes in VA Home Loans helping veterans achieve their homeowning dreams. Call us today at 800-720-0250 to speak to one of our experts.

  • Consider Non-Monetary Factors: Money matters, but so does your happiness! Don’t forget to think about things like safe neighborhoods, quick commutes, and nearby shops when choosing your house. Pick a place that fits your life and makes you smile, not just your budget.


  • Celebrate the Milestone: Buying a home can be a HUGE step forward in your financial security!  Don’t forget to mark this amazing achievement with the people you love. Share your journey and celebrate the hard work and dedication that got you here. You deserve it!

Your Dream Awaits: Take the First Step

Confused about VA loans? Don’t miss out! HomePromise helps veterans buy homes smoothly. Our experts answer your questions, find great rates, and guide you from start to finish. Call 800-720-0250 today and confidently unlock your dream homeownership journey. Turn your dream into reality – call now!

va debt consolidation and military loans

VA Debt Consolidation Loans & Military Debt Consolidation

Even with the best of intentions, bills can start to pile up. From unexpected medical bills to high interest credit cards, debt can happen to anyone. Other expenses like college tuition, delinquent taxes, and second mortgages can also cause financial stress. For veterans and military families currently experiencing financial difficulties, VA military debt consolidation loans can help.

Call Us Now!



Apply Online With Us Below