As a veteran, you enjoy plenty of benefits that help you have a better quality of life. One of which that you should not overlook is applying for a VA home loan. However, you may not be interested in getting one because of the things you have heard about it, especially from fellow veterans and other trustworthy sources. 

While it’s possible some of them may have legitimate concerns, most of them are placing their convictions on misinformation. To ensure you don’t do the same and can even warn others about this, consider the following debunked myths about VA home loans: 

Myth #1: You only have one chance to use your VA home loan benefits, and you cannot use them on another house. 

You may have the idea that VA home loans are not something you would use for another house since many would often have them from their first home. From that perspective, you may also assume that you cannot get much since the houses that are often built are small, like most starter houses for growing families. However, these are just misconceptions present within many veteran communities. 

In reality, you can use the VA house loan benefit multiple times as long as you satisfy the requirements, like the terms for active service. You can even apply what is left from your loan and put it in for a second VA loan, allowing you to get more out of it as a financing option. You just need to be mindful of the requirements, such as the loan limits in your county. 

Myth #2: VA loans are way too expensive, and you can find better offers from conventional loans. 

What puts off most VA loan applicants is the upfront costs and other associated fees because they believe it’s unreasonably high. They also think that conventional loans are faster to apply for, more cost-effective, and can be a better investment option in the long run. However, if you look at the math and processes closely, you can see that the VA loan still edges out other loaning programs.

Firstly, VA home loans require zero percent of downpayment, meaning you are more financially capable of meeting your immediate needs and can address the loan payments later on when you have the money to do so. Just ensure you read the terms and conditions to meet the set deadlines for other fees. 

Additionally, VA loan interest rates are significantly more competitive than conventional options. In fact, according to Ellie Mae, they have one of the lowest average fixed interest rates, providing many aspiring borrowers their dream home. 

Myth #3: VA home loan inspections are often tougher than conventional or FHA financing equivalents. 

You may have reservations about going for VA due to the so-called inspections, but you can actually debunk this information right away. The fact is, VA never has inspections or appraisals. It’s the lender who contacts a VA-validated appraiser to review your property’s value, which is in no way a formal inspection. 

Remember, the VA loan program is one of the easiest to quality since it’s like a privilege given to you as a veteran. It means you can expect a more lenient credit underwriting procedure. 


VA loans can be one of the most useful real estate tools, but you may be wasting the opportunities simply because of believing in false information. Luckily, you now have a better understanding of what you need to know and what can bring you one step closer to your dream home. Just ensure you get trustworthy mortgage professionals to work with you to ensure you know the truth from the myths. 

Are you looking for the best VA loans Louisiana has to offer? We at Performance Mortgage can provide you with that and more! We are your dedicated team of loan officers, providing you with favorable interest rates and excellent customer service for your utmost convenience. Fill out the form today to reach out and get started on your next home loan application!