False. Once you have earned the VA home loan benefit, you have earned it for life. You can use it multiple times for zero down payment, and in some cases, multiple times at once. As a Veteran you can use it as often as needed for your home financing requirements, whether it is to buy your first home, upgrade to a larger home, or to refinance to get cash out of your equity or for a lower interest rate. Even if you have a current mortgage that is not a VA backed loan you can refinance using your VA loan benefit. The VA Home Loan is simply the best home loan available for whatever stage of life you are in.
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