Military Personnel Alerted to Cheap Loans They May Be Missing Out On
Summary
Many active and former U.S. military members do not use VA-backed home loans, missing out on important savings. VA loans offer benefits like no down payment and no need for private mortgage insurance, which can save borrowers thousands of dollars when buying a home.Key Facts
- Fewer than half of eligible military service members consider VA loans when buying a home.
- Only 54% know VA loans require no down payment.
- Just 39% are aware that VA loans do not require private mortgage insurance (PMI).
- PMI savings for VA loan users amounted to a median of $10,600 in 2025.
- VA loans are guaranteed by the Department of Veterans Affairs and offered by private lenders.
- VA loans are available to active-duty service members, veterans, and some surviving spouses with certain service requirements.
- VA loans can be used to buy or improve homes, including single-family homes, condos, manufactured homes, and new builds.
- In some cities with large military populations, use of VA loans is higher, such as Tampa, Florida, where about 40% of homebuyers used VA loans from 2023 to 2025.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.