Only 24% of Veterans Use VA Home Loans—Here’s Why That Needs to Change

Despite the many advantages of VA home loans, it's surprising that only about 24% of eligible veteran homeowners are currently using this powerful benefit. With over 14 million veterans qualified for VA loans, that means millions are potentially leaving money on the table. Whether it’s due to lack of awareness, misconceptions about eligibility, or the assumption that other loan products are better, the reality is many veterans aren't taking full advantage of what they’ve earned through service.

VA home loans offer some of the most flexible and cost-saving benefits in the housing market. From zero down payment and no private mortgage insurance (PMI) to competitive interest rates and easier credit qualification, these loans were designed specifically to help veterans and active service members achieve homeownership. And with rising housing costs, saving on upfront and monthly expenses is more important than ever.

One possible reason for the low participation rate is that many veterans simply don’t know they qualify. Some believe you have to have perfect credit or be a first-time homebuyer, which isn't true. Others may not realize they can reuse their benefit or assume it’s too difficult to get approved. Real estate agents and lenders also play a role—if they aren't familiar with VA loans or don't promote them, veterans may miss out on better financing options.

If you're a veteran or know someone who served, it's worth revisiting the VA loan program. With such a low percentage using this benefit, there's a huge opportunity to help more veterans achieve financial stability and homeownership. The benefit is there—now it’s time to use it.