5 VA Loan Myths & Facts


Here’s a look at five VA loan myths that hold buyers back.


Myth #1: You can only use the VA loan benefit one time.

Fact: Qualified borrowers can use the VA home loan benefit over and over again. There is no limit on how many times a Veteran or Active Duty Service Member can get a VA loan. However, there is a limit to the borrower’s entitlement, which is the amount the VA will guarantee. If the borrower exceeds their entitlement, they may have to make a down payment.


Myth #3: A borrower can only have one VA loan at a time.

Fact: A borrower can have multiple VA loans out at the same time as long as they have not exceeded their maximum entitlement and eligibility. The borrower must be able to afford the multiple payments and have sufficient entitlement. If the borrower exceeds their entitlement, they may be required to make a down payment.


Myth #4: Surviving spouses don’t qualify for VA mortgages.

Fact: Surviving spouses of veterans who died on active duty or as a result of a service-connected disability are eligible for the benefits of a VA loan.


Myth #4: Veterans have to be discharged or retired to use their VA loan benefit.

Fact: Active Duty Service Members get full access to the VA mo