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What many people don’t know about VA loans
VA mortgages are popular, but they're often misunderstood.
Available to current members of the military as well as veterans, these home loans backed by the Department of Veterans Affairs are available with no down payment and very little out-of-pocket cost.
But lenders set different fee schedules and credit requirements, so VA loans from two lenders for the same house could look very different.
"There's a lot of confusion out there," says Grant Moon, founder and CEO of VA Loan Captain, a comparison-shopping site for VA mortgages. "It behooves the veteran to really shop around."
To help you get started, here are several facts about VA loans that will likely surprise you.