Veterans Mortgage of America is a VA Approved Lender | NMLS ID 3117

VA Mortgage Myths vs. Facts

Myth

Veterans can only use their VA Home Loan benefit 1 time.

Fact

The loan can be used multiple times and with today’s higher county loan limits it is possible to own more than 1 home.

Myth

Only Combat Veterans are Eligible.

Fact

VA defines a Veteran as current active service, Reserve/National Guard, Surviving Spouses, Certain National Health Service Officers, and Military Academy attendees.

Myth

VA Loans are small and only ideal for starter homes.

Fact

In January 2020, the maximum VA guaranty limit was removed subject to any previously unrestored entitlement used.

Myth

You need perfect credit to be approved.

Fact

VA does not have a minimum credit score and it the most forgiving credit qualifying loan in the industry.

Myth

VA Appraisals are a nightmare.

Fact

A VA appraisal isn’t much different from any other appraisal and have multiple opportunities for appeal of value or waiver of conditions that other appraisal types do not have.

Myth

VA loans take too long to process.

Fact

VA loans actually close faster than almost any other loans in the industry and in reality, only take as long as the lender making the loan.

Myth

VA loans are too expensive with the upfront funding fee added in.

Fact

In a side-by-side comparison between a VA loan and FHA or conventional loan, VA is always the best loan choice.

VA Loans

Reverse Mortgage

"USAVA Lending did a fine job. They explained everything. They treated me just fine and they were real friendly. If I had a question they got right back in touch with me at the time they said they would. They got what I wanted. I had no complaints. They corrected things that needed to be done. I was alright with the interest rate being the same. I would recommend them."

We received VA Refinance from USAVA Lending. All expectations were meet we had excellent communications from the "Executive Assistant. They provided prompt and thorough services. I would recommend USAVA Lending. It was easy with no hassles."

"The service was real good and they were pleasant. They were real polite and nice. The loan closed early and it did not take too long. We had no problems with them. The loan originator was excellent. He set us up and he was fantastic! He called back to see if everything went smooth and to find out if we had any questions. We did not have any questions because they answered them. I would definitely recommend them."

"They did a great job! I was very satisfied with their helpfulness and they went as far as taking care of the little details. During the time I was refinancing, my husband was in the hospital and was in ICU. The Senior Loan Processor was very helpful and was there for me when I couldn't be quite there myself. We got a reduced interest rate and reduced payment. I got a lot of great customer service from their team. I was looking for a place online and just happened to find their website and have been trying to refinance for 2-3 years..."

"Thank all of you that worked to get this mortgage through. The Senior Loan Processor was quite a tireless person working with us. She was good to us and caring. She was also reassuring. We were very nervous and she calmed our fears.We would recommend USAVA Lending very highly. They were friendly, courteous, informative. They explained everything. USAVA Lending was the first loan company we have used in many years and it was worth our while. They facilitated the process, so we had nothing was held up."

"I have used USA Home Loans a couple of times now and I keep going back because the employee I work with is great. I am always treated well and the employee is very personable. I have recommended them and if asked I would keep recommending them they are efficient."

"Everyone at USAVA Lending did a splendid job in refinancing my home..They were very courteous,imformative, and answered all my questions. They were all very professional in handling my re finance, and it was finished promptly.I recommend your Lending Instition very highly.Thank you all for doing such a great job!"

"Compared to Chase and other places that I worked with USAVA Lending were excellent. It was impressive because they are in Arizona and I am 1000 miles away in the bay area in California and I got better service from them than I would get from Chase who is literally around the corner. When the loan originator contacted me I was kind of leery that something like this would go through, but he did a remarkable job in terms of managing the loan application and process..."

Talk to one of our Loan Professionals Today!

– VA Loans have –

No Down Payment | No Mortgage Insurance | Low Rates

VMA is an approved lender. Not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

Get Connected

Veterans Mortgage of America™ (fka USAVA Lending, LLC), provides outstanding lending options for home owners, home buyers, Veterans and active duty Military service members.

VMA is an approved lender and not an agency of the Federal Government or affiliated with the Department of Veteran Affairs. We are licensed in AK, AL, AZ, AR, CA, CO, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, MD, MI, MN, MS, MO, MT, NB, NE, NV, NJ, NM, NC, OH, OK, OR, PA, SC, TN, TX, UT, VT, VA, WA, WI, WY.

VA Mortgage Myths vs. Facts

Myth

Fact

Myth

Fact

Myth

Fact

Myth

Fact

Myth

Fact

Myth

Fact

Myth

Fact

VA Loans

Reverse Mortgage

Talk to one of our Loan Professionals Today!

Get Connected

VA Home Loans

Resources