VA loans are one of the most powerful homeownership benefits available to veterans. No down payment, no PMI, competitive rates. But I still hear the same myths from buyers, sellers, and even other agents — and those myths cost veterans real money and real opportunities.
As a Marine Corps veteran and REALTOR® in Oak Park, Illinois, I’ve navigated VA transactions in a market full of older homes, competitive offers, and sellers who don’t always understand the process. Here’s what I wish every veteran buyer — and every seller considering a VA offer — actually knew.
Myth #1: VA loans take forever to close.
Not true. With an experienced VA lender, a VA loan closes on the same timeline as a conventional loan — typically 30 to 45 days. The delays people remember are usually from years ago, or from working with a lender who doesn’t specialize in VA. The loan isn’t slow. The wrong lender is slow. I work with lenders who close VA loans routinely, and my veteran buyers aren’t waiting any longer than anyone else.
Myth #2: You can only use your VA loan benefit once.
This is one of the most persistent myths, and it stops veterans from making moves they should be making. Your VA loan entitlement is a reusable benefit. You can use it multiple times over your lifetime — whether you’ve sold a previous VA-financed home or paid off the loan. Some veterans even have enough remaining entitlement to carry two VA loans at once. If someone told you it’s a one-time deal, they were wrong.
Myth #3: Sellers lose money on VA offers.
This one frustrates me. A VA offer is backed by the federal government. The buyer has been through a qualification process. The funding is solid. The idea that VA offers are somehow weaker than conventional ones is outdated — and in many cases, simply false. Where it gets tricky is when the seller’s agent doesn’t understand VA appraisals or Minimum Property Requirements, and they advise their client to skip the VA offer out of unfamiliarity. That’s not a problem with the loan. That’s a problem with the agent on the other side. Part of my job is making sure the listing agent understands exactly how the VA process works so my veteran buyers get a fair shot.
Myth #4: VA appraisals kill deals on older homes.
In a market like Oak Park and River Forest — where much of the housing stock dates to the early 1900s — this myth carries real weight. VA appraisals do evaluate properties against Minimum Property Requirements, which cover things like the condition of the roof, electrical systems, and peeling paint. But MPR issues aren’t automatic deal-killers. An experienced agent identifies potential MPR concerns before the appraisal, works with the seller to address them upfront, or structures the offer to account for them. I’ve closed VA transactions on homes built in the 1920s. It takes preparation, not luck.
Myth #5: Any agent can handle a VA transaction.
Most agents have handled one or two VA deals at most. They’ll say yes when you ask if they’ve worked with VA loans, because they don’t want to lose the business. But there’s a difference between having been on a VA transaction and actually understanding the mechanics — non-allowable fees, appraisal gap strategy, MPR navigation, how to communicate with a listing agent who’s skeptical of a VA offer. I hold the MRP (Military Relocation Professional) designation, and I’ve built my practice around serving veteran and military families specifically. This isn’t a side offering for me. It’s core to what I do.
The bottom line: VA loans are built to serve you. They’re flexible, powerful, and backed by a system designed to reward your service. The only thing standing between you and that benefit is having the right people in your corner.
If you’re a veteran or military family member thinking about buying in Oak Park, River Forest, Galewood, or anywhere in the West suburbs of Chicago, let’s talk. No pressure, no pitch — just a clear-eyed look at what the process looks like for you.
Cathy Yanda, REALTOR® | ABR, MRP, SFR, SRES®, SRS
Mission Ready Real Estate | Baird & Warner
773.315.7005 · cathy@cathyyanda.com · cathyyanda.com