Condition is key
As with any mortgage, VA loan rates, fees and terms can vary widely from one lender to another.
That's something Grant Moon, a veteran and reservist, wishes someone had told him when he used VA mortgages to acquire his two rental homes.
A vet or service member who doesn't shop around "could end up paying tens of thousands more over the life of the loan," says Moon, the founder and CEO of VA Loan Captain.
His advice is to get loan estimates from at least three to five lenders. And, shop around for an agent who understands the program, is a good communicator and can strongly advocate on your behalf.