Veterans Can Afford Just 7.7% of Listed Homes

VA loans can make homeownership more attainable for eligible veterans by allowing purchases with no down payment and no monthly private mortgage insurance, as Gabrielle Pickens found after rebuilding her credit with housing counseling and using the benefit to buy a home. But the zero-down option does not eliminate affordability barriers: a study found that veterans earning the median income in their metro could afford only 7.7% of listed homes across 196 metros, with especially limited options in some large military communities. Affordability varied widely by location, with several Ohio and Pennsylvania metros among the strongest markets, while fewer than one in 10 listings were affordable in Fayetteville and Jacksonville, North Carolina. VA loans may also offer lower interest rates than conventional mortgages, though borrowers still face lender-specific credit and income reviews, and most pay a one-time funding fee unless exempt. Together, the accounts show that the benefit can help veterans overcome some hurdles to buying a home, but local prices, available inventory and individual finances remain decisive.