Do you qualify for the VA Loan? If you served, the answer is probably “Yes”! There are also a few categories of service that are quite surprising (NOAA?!?). I also cover the top myths surrounding the VA Loan (like “One and done”), and some of the more frequently asked questions.

* Active Duty and Veterans with over 90 Days of Service (Wartime – most of us) or 181 (Peacetime). Yes, including the Coast Guard.
* National Guard & Reserves – 90 Days Active Service (After August 1990 – Present) or 6 Creditable Years (Wowza!)
* Surviving Spouses can get the benefit in some cases.
See : * There are other qualified groups listed in the video.

Myth List:
“One and Done”
Horse Hockey! There are NO limits on how many times you can use your VA Loan Benefit. You can even use 2 at the same time (in certain circumstances)!

“There is a minimum credit score”
The government KNEW we were going to have, ahem, terrible credit. There is NO minimum credit score! However, (comma, because NCO!) the lower your credit score, the harder it is to find a lender. Better credit makes it easier and cheaper.

“You can only get a loan for $20” (or something equally ridiculous)
As of January 2020, Aim Higher! There is NO maximum limit! (Except for finding a lender to do it.) You want to buy a $2 Million home and get 100% financing – you can! If you qualify, of course.

“You have to save up at least $XX thousands for closing costs”
No, you can get 100% financing and zero down – if your lender and Real Estate Agent actually know what they are doing.

“But Base Housing is Free…”
Really? Base Housing is terrible, and you know it Sparky. (DD214 – I say what I want to!). Besides, you can’t make any money that way.

“I can only buy a Single Family Home (SFH)”
Nope – the world is pretty much your oyster. That includes manufactured homes (not mobile homes – and there are still conditions on that, but I digress), SFH, SFH in an HOA, Townhomes, Condos, and my favorite of all, Small Multi-Family properties up to FOUR units! More on this in a later video.

“I can’t afford it!”
On your own? Maybe not. But bring a Battle Buddy! You can find out more in my “Golden Girls” video (coming soon!).