VA home loans have been around since 1944. And, as with most things that have been around for over half a century, there are plenty of myths and misconceptions associated with them.
In 2015, the program backed 631,151 loans in fiscal year 2015, a record number. Despite this large number, there are still many veterans and military families that are not taking advantage of the program. That is where the myths and misconceptions come in.
The necessity for perfect credit, the thought that VA loans cost more, and that they take forever to close are all hindering some individuals' ability to make use of a VA loan, Zillow reports.