Three VA Loan Myths Are Quietly Costing East Valley Veterans Thousands

John Cassels

John Cassels

— 6 min read
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Three VA Loan Myths Are Quietly Costing East Valley Veterans Thousands
Three VA Loan Myths Are Quietly Costing East Valley Veterans Thousands
VA & Veteran Buyers

Roughly half of service members do not know their VA loan needs no down payment, and that is only the first of three myths keeping veterans renting or overpaying. Here is the truth behind each, what believing it costs you, and the honest fine print.

Here is a number that should not be true in 2026. In survey after survey, only about half of service members know that a VA loan requires no down payment. The benefit is nearly eighty years old, it is one of the strongest in all of lending, and a large share of the people who earned it are leaving it on the table because of things they believe that simply are not so. Three myths do most of the damage. Each one has a real cost, and each one is easy to clear up.

Myth one: you need a down payment

The myth
A VA loan needs a down payment, just like every other mortgage.
The reality
With full entitlement, an eligible veteran can finance one hundred percent of the purchase price. Zero down. It is the signature feature of the benefit, and the majority of VA purchase loans are made with nothing down.
What the myth costs: years of renting while you save for a down payment you never needed, and the equity you could have been building the whole time.

Myth two: you will pay monthly mortgage insurance

The myth
Putting little or nothing down means paying monthly mortgage insurance.
The reality
VA loans carry no monthly mortgage insurance, at any down payment level. On a comparable low-down conventional loan, that insurance often runs in the range of one to three hundred dollars a month, for years. On a VA loan it is simply zero.
What the myth costs: potentially thousands of dollars over the years you own the home, paid for a cost your benefit already erased.

Myth three: you only get to use it once

The myth
The VA loan is a one-time benefit you use and then lose.
The reality
It is a lifetime benefit you can use again and again. Once you pay off and sell, your full entitlement restores. And with enough entitlement, some veterans hold more than one VA loan at the same time, which opens real doors for a military family that moves.
What the myth costs: passing up your benefit on a later purchase because you thought it was already spent.
The benefit is not the problem. The gap is what veterans were never told about it.
The honest fine print

Zero down is powerful, but it is not automatically the right move for everyone. VA loans carry a one-time funding fee, which can be financed into the loan and is waived entirely for many veterans with a service-connected disability rating. Putting nothing down also means you start with less equity and a slightly higher fee than if you put money down. None of that cancels the benefit. It just means the smart play is to run your numbers both ways and choose on purpose, not to assume zero down is always best or, worse, to assume you cannot buy at all.

Veteran to veteran

If any of those three myths sounded true to you, you are in good company, and it is not your fault. A lot of the bad information comes from lenders and agents who rarely work with veterans and do not know the program. The fix is one honest conversation. Ask directly: with my entitlement, what is my down payment, is my funding fee waived, and how are you counting my income? The answers tell you fast whether you are working with someone who knows your benefit or someone guessing on your file.

The bottom line

You earned a benefit built to put homeownership within reach without years of saving and without the extra monthly costs other buyers carry. Do not let a myth keep you renting or push you into the wrong loan. Get the real numbers on your entitlement, your funding fee status, and your buying power, and make the call from facts. That conversation is available to you right now, across the East Valley, veteran to veteran.

Johnathan Cassels
Mortgage Strategist · U.S. Army Veteran · CrossCountry Mortgage, Gilbert AZ
Johnathan is a U.S. Army veteran who has led and lent in the mortgage business since 2002. He makes sure East Valley veterans and service members get the full truth about their benefit, and every dollar of buying power it holds. If you want the real numbers on your situation, start the conversation.
Let’s talk strategy
Johnathan Cassels, CrossCountry Mortgage, LLC. Gilbert, AZ. NMLS #3029.
This article is for general educational purposes and is not a commitment to lend or financial advice. VA loan eligibility, entitlement, down payment, funding fee, and funding fee exemptions depend on individual circumstances and are subject to VA guidelines. The ability to hold more than one VA loan or restore entitlement depends on your available entitlement and the specific transaction. Mortgage insurance savings compared with other loan types will vary. Loan approval depends on credit, income, and assets. CrossCountry Mortgage is a private lender and is not acting on behalf of, or at the direction of, the U.S. Department of Veterans Affairs. Equal Housing Opportunity.

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