Common Myths About VA Mortgage Loans

VA loans are a great way for qualifying individuals to purchase a home. The ability to finance 100% of the purchase price, along with great interest rates, makes this a terrific benefit for the people who served our country. However, there are some common myths about how the VA home mortgage works. Here are some of the prevalent myths and the facts to prove them wrong.

First Myth: Home Sellers are required to pay all closing costs for a VA mortgage

Fact: The VA mortgage will not allow the veteran to pay particular fees associated with a mortgage. However, this does not mean that the seller must pay all costs. The real estate agent or the originator of the mortgage can also pay closing costs. This is a matter of negotiating between the buyer, the seller and the agents involved.

Second Myth: The VA mortgage is only valid for people currently serving in the military or people that finished their service, but not both.

Fact: Both groups of people can be eligible. The VA determines who is eligible based on their years of service as well as if the person served during time of war. As of this writing over 15 million veterans younger than 65 are currently living within the United States. In addition to people that have previously served and current military personnel, individuals that served through one of the military reserves are also eligible, based on their years of service.

Third Myth: Each VA mortgage has a huge funding charge tacked on.

Fact: Private Mortgage Insurance (PMI), which is a requirement for most other types of loans, is more expensive than the VA funding charge. Since the veteran is not required to pay any PMI, they come out better with this type of loan. The funding fee can also be added to the loan amount so that the veteran does not have to pay for it up front.

Fourth Myth: The VA does not offer high enough loan amounts.

Fact: The maximum VA mortgage amount is currently $417,000 which is equal to the conforming loan limit for mortgages offered by Fannie Mae and Freddie Mac. For most areas, this is more than sufficient for veterans to find a comfortable home in a nice area. The only limitation for a loan that size would be the applicant’s income levels and their current debt.

Visit our VA Loan page for additional information on the program including eligibility and funding fee information.

Contact me below or apply online to see if you qualify for a VA mortgage!

Important Disclosure

The VA mortgage program is available to eligible Veterans only.

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Filed under: Florida Blog, VA Loans

Luke Skar

Luke Skar is the web developer and content strategist for Inlanta Mortgage in Madison, serving Wisconsin, Illinois, Minnesota and Florida. Guided by his 12-plus years of various mortgage marketing experience, Luke provides top-quality SEO services, effective social media management, and web development and maintenance. Luke’s career in the mortgage industry began back in 2001, as a loan processor. After becoming a loan officer for a number of years, Luke is now the sole owner/operator of To ensure that all the information he posts is fresh, accurate, and up-to-date, Luke relies on the knowledge which his years of dedication to keeping up with the constant change that the mortgage industry provides.


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