The VA Home Loan Advantage: What Every Veteran Should Know Right Now

If you’ve served in the military (or if your spouse has), you have access toone of the most powerful homebuying tools out there. The chance to buy ahome without having a down payment.Unfortunately, 70% of Veterans (that's 7 out of every 10) don’t know aboutthis benefit, according to Veterans United.

And that’s a big missed opportunity for those who’ve earned this benefitthrough service. So, let’s break down what you really need to know aboutVeterans Affairs (VA) home loans right now.Why VA Home Loans Can Be a Great OptionFor nearly 80 years, VA loans have made homeownership possible formillions of Veterans and active-duty service members. Here are just a fewof the top perks according to the Department of Veteran Affairs:Options for $0 Down Payment: Many Veterans can buy a home withoutspending years saving up.Fewer Upfront Costs: The VA limits which types of closing costs Veteranshave to pay, helping you keep more cash on hand when you’re finalizingyour purchase.No Private Mortgage Insurance (PMI): Unlike many other loan types, VAloans don’t require PMI, lowering your monthly costs.These features make VA loans a great way for service members (or theirfamily) to build stability, save money, and start creating long-term wealththrough homeownership.Can You Still Get a VA Loan with the Government Shutdown?But lately, there’s been some confusion about whether VA loans are stillavailable due to the government shutdown. And that uncertainty has keptsome Veterans from taking the next step.While there may be processing delays, Veterans United explains you canstill get a loan:“There’s been a lot of confusion and uncertainty about how agovernment shutdown will affect VA home loans . . . The goodnews is that the shutdown has minimal impacts on VA lending.Lenders are still able to order appraisals, obtain a borrower’sCertificate of Eligibility, submit the VA Funding Fee and more. Inshort, Veterans are still able to use their home loan benefit tobuy a home or refinance an existing mortgage.”So, despite the headlines, you can still use your VA home loan benefitstoday. The process is ready when you are. It just may take more time to gothrough.Why the Right Agent and Lender MatterJust remember, using your VA home loan is easier (and smoother) whenyou have the right team behind you. As VA News puts it:“Choosing a military-friendly broker or agent who understandsthe VA home loan application process can make all thedifference in the homebuying experience. Finding the rightagency or brokerage is just as important as locking in a good VAmortgage lender. Communication is key to getting to the loanclosing table.”A knowledgeable agent and an experienced lender can help you navigateevery step, all the way from qualifying to closing. With their help, you canmake sure you’re getting the most out of your benefits.Bottom LineIf you’re a Veteran, a VA home loan is one of the most valuable benefitsyou’ve earned through your service. It offers options for no down payment,limited closing costs, and more.Want to learn more? Talk to a lender so you can take full advantage of thebenefits you’ve earned.