False. The VA Loan, in my opinion, the best loan option for those who have earned their entitlement and that qualify.

This loan requires no down payment. USDA is the only other loan product that has a 0 down payment available. However, the USDA loan is only available for homes in eligible areas and has other restrictions. FHA requires 3.5% and Conventional requires 3% minimum for first time home buyers and 5% minimum for second time home buyers.

No mortgage insurance. Mortgage insurance is standard for any loans with less than a 20% down payment. Not having this as part of your mortgage payment each month will save you thousands over the life of the loan.

No credit score requirement. However, each lender can set the minimum credit score they will accept as it is an indicator to establish your ability to repay the loan.

There are other benefits that a VA loan has over other loans. Call or email me today to take advantage of the loan benefit you have earned.