4 VA Loan Myths That Hamper Veteran Home Buyers | Fox Business

Thanks for letting us know CPO Tim Dickey. I applied for a VA loan in the early 1990's and haven't attempted to use that service since primarily because of my job being terminated but also because the VA loan caps were so low for the area I live in - around Washington, DC.
I was interested to see that the low loan caps were not considered to be one of the four myths which I pasted below.
Myth 1: You need perfect credit - This one is almost laughably wrong. VA loans were created to help level the playing field for veterans and military members who’ve sacrificed for our country. More flexible and forgiving credit guidelines are a key part of the benefit.
Myth 2: VA loans cost more - These $0 down loans come with a host of big-time benefits that have made homeownership possible for millions of veterans and service members who might otherwise be left on the sidelines. They also don’t inherently cost more than other loan types.
Myth 3: VA loans take forever to close - VA loans have long fought a reputation for being slow and choked with red tape. Some of that reflects old truths, but the program has become considerably more efficient over the past 15 years.
Myth 4: No down payment makes VA loans risky - This is one of the surprising — and surprisingly neglected — stories of the housing recovery. These $0 down loans have had the lowest foreclosure rate of any mortgage on the market for most of the past eight years, according to data from the Mortgage Bankers Association.

Thanks for sharing CPO Tim Dickey , looking to use my VA loan pretty soon.

CPO Tim Dickey Great article for first time VA Home Buyers. I'm going on my third here real soon!