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VA LOAN MYTH BUSTERS

Dated: February 15 2023

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We are exploring VA loan myth busters this month:
Myth: VA Loans have a ton of red tape and take forever to close.
Fact: On average, VA loans take around the same amount of time to close as their conventional and FHA counterparts.
As long as you have an experienced lender that knows what they are doing, VA loans can be done just as quickly as any other loan type.
Myth: I used my VA benefits already, so I can't get another VA Loan.
Fact: VA benefits can be restored.
Once a VA loan is paid in full and the VA has sufficient documentation of such, a veteran’s eligibility can be restored for another purchase.
Myth: Only veterans or inactive military members can get a VA Loan.
Fact: Active-duty service members can get a VA Loan.
VA Loans are available to anyone who meets the criteria regardless of their service status.
Myth: You cannot get Jumbo financing with a VA Loan..
Fact: Jumbo lending is available for VA Loans
VA loans actually have no limits for jumbo loans amounts!
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Molly McGrory

When it comes to real estate, Molly McGrory is the epitome of passion. With a career spanning over 28 years, Molly has grown RE/MAX Town & Country from a small office with just a handful of agents to ....

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