Military AssistanceMelanie Colley | KW Lake Norman-Mooresville

Misconceptions and Truths

  • Misconceptions:
    • Only veterans and active duty service-members are eligible for VA 100% financing.
    • I am guaranteed a VA loan because I have served my country regardless of my credit status.
    • I used my VA benefit already, I can’t use it again.
    • I served in WWII, Korea or Vietnam; my home purchase benefits have expired long ago.
  • Truths:
    • All service members, having served the prescribed active duty time and have an honorable discharge, are eligible for VA financing, which includes the National Guard, Reservists, Veteran retirees, along with active duty service members.
    • Though you may have served your country, you must be ELIGIBLE for the program (time & character of service). All purchasers must qualify for their loan request, following the VA guidelines relative to income, asset and credit requirements.
For more information about the misconceptions and truths of VA loans contact Melanie Colley today! 704-775-9926