VA Home Loan Program Unused by 75 Percent of Eligible Borrowers, New Data Reveals
Despite being hailed as one of the most valuable benefits for U.S. military veterans, the Department of Veterans Affairs reports that less than one-quarter of eligible veterans have ever used their VA home loan program. New data from a housing affordability study shows that the VA home loan program unused by roughly 75 percent of qualified borrowers, often due to misunderstandings about eligibility and outdated perceptions. Real estate experts say many veterans wrongly believe they need a perfect credit score or a high down payment, while in reality, the program offers zero down payment options with no private mortgage insurance. The VA is now launching a targeted outreach campaign to close this massive gap, aiming to connect thousands of current and former service members with a benefit they have earned but never tapped.