3 VA Loan Myths You Need to Stop Believing

If you’ve heard that VA loans are slow, rigid, or that you can only use them once, it’s time to set the record straight. These myths are holding you back from using a powerful benefit that you’ve earned through your service.

As someone who’s helped countless veterans make the most of their VA loan benefits, I’m here to clear up the confusion. Let’s dive into the three most common myths about VA loans and get you the facts you need.

Context / Why It Happens

Misconceptions about VA loans often stem from outdated information or experiences that don’t represent the reality of today’s mortgage landscape. It’s easy to get discouraged by these myths, but understanding the truth will empower you to take full advantage of your VA benefits.

Myth 1: You Can Only Use Your VA Loan Once

This myth is one of the most persistent and it couldn’t be further from the truth. You can absolutely use your VA benefits more than once.

Here’s how: When you sell a home bought with a VA loan and pay off the mortgage, your entitlement is reinstated. This means you can use your VA loan again to buy another home. In some cases, you can even have two VA loans at once, especially if you’re moving to a new duty station while renting out your first home.

For example, if you’re transferred for work but want to keep your first home as a rental, you may still be able to buy another home with a VA loan and not need a down payment.

Pro Tip: Always check your Certificate of Eligibility (COE). It shows how much entitlement you have left and is used to determine if you're eligible for a second loan.

Myth 2: VA Loans Are Slower and More Likely to Be Denied

This is an outdated belief that often stems from misconceptions about the VA appraisal process. Yes, VA appraisers do have up to 10 days to return their report, but that doesn’t mean the entire process is slower. On average, VA loans close just as quickly as conventional or FHA loans.

In fact, VA loans have some of the lowest denial rates—around 6.5%—which is even lower than conventional loans. So, despite myths about VA loans being riskier, they are actually a very stable option for many veterans.

Pro Tip: If someone tells you that VA loans are harder to close, find a lender who is familiar with the VA process. With the right guidance, VA loans are smooth and efficient.

Myth 3: VA Appraisals Always Come in Lower

It’s not true that VA appraisals always come in lower than the sale price. VA appraisers use the same comparable sales data as conventional and FHA appraisers. The difference is that VA appraisers also check for health and safety issues in the home.

For example, if there’s mold or a missing handrail, those issues might need to be fixed before closing. But this is for your protection, ensuring you’re buying a safe home.

If there’s ever a gap between the sale price and the appraised value, the VA provides more opportunities to challenge it. With the Tidewater process, we can submit additional comps to justify the price. And if needed, we can request a reconsideration of value or escalate the matter to the VA directly.

Pro Tip: If the appraisal comes in low, don’t worry. The VA gives you tools to challenge the value, something other loan types don’t offer.

FAQ

Can I use my VA loan more than once?

Yes, you can use your VA loan multiple times. Selling a home with a VA loan and paying off the mortgage restores your entitlement, allowing you to use it again.

Are VA loans slower to process than other loans?

No, VA loans close as quickly as conventional or FHA loans. The only difference is that VA appraisers may take up to 10 days, but the overall process is just as efficient.

Do VA appraisals always come in lower?

No, VA appraisers use the same comps as conventional and FHA appraisers. They also look for safety and health issues, but that’s for your protection. You also have more tools to challenge a low appraisal with the VA.

Closing Thoughts

It’s time to move beyond these myths and take full advantage of your VA loan benefits. You can use your VA loan multiple times, close quickly, and handle appraisals with more flexibility than other loan types. With the right lender and a bit of knowledge, you can make the most of your benefits.

If you have questions or want to learn more about using your VA loan, I’m here to help.

Rebecca Richardson, “The Mortgage Mentor,” is a nationally recognized mortgage advisor based in Charlotte, NC, lending in multiple states across the U.S. With over 20 years of experience, she helps buyers navigate home financing with confidence whether you're buying your first home, investing, or navigating a major life transition. Rebecca is especially known for her work with veterans, real estate investors, and clients with complex financial needs. As a top-producing loan officer and sought-after educator, she’s a trusted guide for buyers and real estate professionals nationwide.