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7 surprising facts about VA home loans

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What many people don’t know about VA loans
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What many people don’t know about VA loans | Sean Murphy/Getty Images

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.

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Brought to you by Veterans United Home Loans Veteran Homebuyer Central Veterans and military members have access to one of the most powerful homebuying tools on the market – the VA loan.
These articles were created solely by Veterans United, a paying advertiser from whom Bankrate receives compensation. The editorial staff of Bankrate was not involved in the stories' preparation.
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