A 0% Down VA Loan Can Put Veterans in a Home 4.4 Years Sooner

Underutilization of VA loans delays homeownership, especially in high-cost markets, co-op-heavy cities, and areas where Veterans may not know about their benefits

For many U.S. Veterans, buying a home can feel out of reach, but a 0% down Veterans Affairs home loan can help first-time buyers move in 4.4 years sooner than with a typical conventional loan, according to a new reportfrom Realtor.com®and the National Association of Realtors®.

A custom analysis of NAR's 2024 Profile of Home Buyers and Sellers finds that 74% of first-time VA loan users put 0% down, compared with a 12% median down payment for conventional first-time buyers. With a VA loan, borrowers only need to cover standard closing costs, which are similar for both types of loans. On a typical $430,000 home, a conventional buyer would need roughly $51,600 upfront that a VA loan buyer wouldn't need. For a first-time buyer saving 15% of a median $78,700 annual gross income, it would take about 4.4 years to accumulate that amount.

A lower 10% savings rate stretches the timeline to 6.6 years, while a more aggressive 20% rate shortens it to 3.3 years. In short, a 0% down VA loan lets buyers enter the market and start building equity years sooner.

“For many Veterans and service members, a VA loan can be a game changer,” said Danielle Hale, chief economist at Realtor.com®. “By removing the hurdle of a large down payment, these loans open doors to homeownership and financial security years sooner.”

Across U.S. markets, VA loans unlock homeownership 2.7 to 10 years sooner

Across U.S. metro areas, VA loans give first-time buyers a head start, cutting years off the path to a home. Assuming the same 0% down payment for VA loans versus 12% for conventional loans, and a 15% household saving rate for first-time buyers making the local median income and purchasing a home at the local median price, these loans can help buyers get a foothold in their local market years sooner. On the lower end, a VA loan lets buyers reach homeownership 2.7 years sooner than a conventional loan in Akron, Ohio, and 2.8 years sooner in Dayton, Ohio, while in higher-cost areas, it ranges from 6.5 years sooner in New York City, 7.5 years in both San Diego and Oxnard-Thousand Oaks, Calif., and up to 10 years sooner in Los Angeles.

High-cost, co-op heavy markets lag in VA loan use, while military hubs lead the way

Despite the clear advantages of VA loans, use remains low in some areas – especially high-priced metros like Los Angeles, San Francisco, San Jose, and New York, where home prices, co-op restrictions, and limited awareness all play a role.

“The VA Home Loan program has opened the door to homeownership for more than 48 million veterans and service members – one of the most successful housing initiatives in American history,” said Lawrence Yun, NAR chief economist. “The standout benefit of a VA loan is the 0% down payment but without the extra risk. The lower upfront cost makes homeownership more attainable, especially in high-cost markets and amid elevated mortgage rates, giving qualified buyers a critical advantage and the ability to start building equity sooner. The VA Home Loan program is a shining example of how smart federal policy can expand access to homeownership, strengthen communities, and reward those who've served our nation.”

In metros with a high concentration of co-ops, like New York, additional barriers limit access to VA loans, resulting in one of the nation's lowest utilization rates – just 3.8 VA-financed home sales per 1,000 military households. That's because in addition to high-costs, VA loans cannot currently be used to purchase co-ops, and condos or townhomes must be VA-approved to qualify. Identifying and addressing these underutilized markets is key, as many are exactly where Veterans could benefit most from the 0% down payment advantage.

Conversely, metros near major military bases – including Virginia Beach, Va., and Colorado Springs, Colo. -show some of the highest VA loan utilization rates, 42.1 and 43.1, respectively, reflecting both the concentration of military households and stronger awareness of the program. In contrast, markets like Salt Lake City and Fresno, Calif., have fewer military households, which may contribute to lower awareness despite the potential for significant financial benefit.

Mission Zero: Closing the awareness gap to help more Veterans achieve homeownership

Despite VA loans' many advantages, only about one-third of Veterans and active-duty service members know they can buy a home with no money down, according to a 2025 survey from Veterans United Home Loans.

“Many Veterans don't realize that a VA loan removes the need for a down payment, which is one of the biggest hurdles to homeownership,” said Chris Birk, vice president of Mortgage Insight and Education, Veterans United Home Loans. “As the nation's largest VA lender, we see every day how this benefit changes lives. When Veterans understand the power of their VA loan, they can start building equity and stability for their families years sooner.”

This report is part of the Mission Zero campaign, launched two years ago by Realtor.com® in partnership with Veterans United, to ensure every Veteran knows about and can use their VA home loan benefit. The 2025 campaign launches November 11 in partnership with Veterans United Home Loans, The New York Post, The Wall Street Journal, RE/MAX, Home Depot, NAR, Veterans of Foreign Wars, and Homes for Our Troops.

This year, Army Veterans Terry Lashley, Shelia Roberts, & Ronnie Baldwin have joined Mission Zero to help more Veterans learn about the VA loan that makes homeownership possible with 0% down. On November 11, you can watch their stories and find out more about VA loans at www.realtor.com/veterans. The Veterans & Military Benefits section on Realtor.com® for-sale home listings also includes information about this benefit.

Metro Utilization Benefit VA Loan VA Loan Mismatch: Share of Avg. Median Rate: Intensity: Yrs Utilization Benefit (Low VA military Price # sales sooner to Rate Intensity utilization HH with VA ownership & High loans per Benefit 1000 Intensity) Military HHAkron, OH 9.4 2.7 Low Low 13.40% $232,806Albany-Schenectady-Troy, NY 6.1 4.1 Low Low 12.30% $437,533Albuquerque, NM 17.7 4.6 High High 17.60% $408,479Allentown-Bethlehem-Easton, PA-NJ 9.1 4 Low Low 13.70% $388,913Atlanta-Sandy Springs-Roswell, GA 15.8 3.7 High Low 13.70% $409,920Augusta-Richmond County, GA-SC 33.7 3.8 High Low 24.90% $318,199Austin-Round Rock-San Marcos, TX 18.2 4 High Low 12.20% $508,505Bakersfield-Delano, CA 17.2 4.8 High High 12.10% $400,463Baltimore-Columbia-Towson, MD 18.2 3.2 High Low 14.60% $377,448Baton Rouge, LA 13.7 3.6 Low Low 12.00% $300,796Birmingham, AL 14.4 3.3 Low Low 13.90% $296,398Boise City, ID 19.8 5.5 High High 17.00% $595,852Boston-Cambridge-Newton, MA-NH 5.8 6.1 Low High Mismatch 9.80% $836,038Bridgeport-Stamford-Danbury, CT 3.1 5.7 Low High Mismatch 8.20% $810,754Buffalo-Cheektowaga, NY 4.6 3.1 Low Low 14.50% $272,724Cape Coral-Fort Myers, FL 11.4 4.6 Low High Mismatch 17.40% $427,193Charleston-North Charleston, SC 32.6 4.9 High High 22.30% $519,421Charlotte-Concord-Gastonia, NC-SC 15.8 4.3 High Low 13.10% $434,796Chattanooga, TN-GA 14.2 4.5 Low High Mismatch 16.30% $406,576Chicago-Naperville-Elgin, IL-IN 10.8 3.4 Low Low 8.40% $365,693Cincinnati, OH-KY-IN 11.2 3.4 Low Low 13.10% $337,322Cleveland, OH 9.1 3 Low Low 12.40% $256,469Colorado Springs, CO 43.1 4.5 High High 32.60% $497,170Columbia, SC 28.3 3.7 High Low 21.10% $309,880Columbus, OH 13.1 3.7 Low Low 12.10% $369,660Dallas-Fort Worth-Arlington, TX 22.8 3.9 High Low 12.00% $428,734Dayton-Kettering-Beavercreek, OH 18.3 2.8 High Low 19.40% $243,677Deltona-Daytona Beach-Ormond Beach, FL 19.4 4.4 High High 20.20% $389,564Denver-Aurora-Centennial, CO 16.8 4.4 High High 12.50% $592,295Des Moines-West Des Moines, IA 15.8 3.3 High Low 12.90% $354,895Detroit-Warren-Dearborn, MI 9.1 2.9 Low Low 10.00% $261,956El Paso, TX 37.4 4.2 High Low 18.70% $296,193Fayetteville-Springdale-Rogers, AR 20.3 4.6 High High 12.80% $437,613Fresno, CA 11.7 5.3 Low High Mismatch 10.50% $474,410Grand Rapids-Wyoming-Kentwood, MI 9.9 3.8 Low Low 10.50% $394,015Greensboro-High Point, NC 13.1 4.2 Low Low 13.00% $330,121Greenville-Anderson-Greer, SC 12.4 4.4 Low High Mismatch 15.40% $373,227Harrisburg-Carlisle, PA 10.6 3.6 Low Low 14.50% $349,527Hartford-West Hartford-East Hartford, CT 7.3 3.7 Low Low 11.00% $437,754Houston-Pasadena-The Woodlands, TX 20.5 3.7 High Low 10.50% $365,753Indianapolis-Carmel-Greenwood, IN 16.4 3.2 High Low 13.20% $320,608Jackson, MS 7.9 4 Low Low 13.70% $309,875Jacksonville, FL 25.7 3.9 High Low 23.60% $397,028Kansas City, MO-KS 15.5 3.9 High Low 14.70% $389,016Kiryas Joel-Poughkeepsie-Newburgh, NY 4.4 4.7 Low High Mismatch 12.50% $538,212Knoxville, TN 16.7 5 High High 16.20% $451,078Lakeland-Winter Haven, FL 21.3 4.3 High Low 17.00% $340,821Las Vegas-Henderson-North Las Vegas, NV 24.8 5.2 High High 16.80% $473,693Little Rock-North Little Rock-Conway, AR 23.6 3.6 High Low 17.00% $293,246Los Angeles-Long Beach-Anaheim, CA 4.3 10 Low High Mismatch 7.20% $1,140,124Louisville/Jefferson County, KY-IN 14.1 3.5 Low Low 13.80% $317,372McAllen-Edinburg-Mission, TX 13.9 4.3 Low Low 8.70% $271,472Memphis, TN-MS-AR 16.5 4 High Low 14.10% $336,104Miami-Fort Lauderdale-West Palm Beach, FL 8.8 5.5 Low High Mismatch 8.20% $513,279Milwaukee-Waukesha, WI 7.1 4.1 Low Low 10.30% $384,617Minneapolis-St. Paul-Bloomington, MN-WI 10 3.6 Low Low 11.80% $434,058Nashville-Davidson–Murfreesboro–Franklin, TN 16.4 5.1 High High 12.40% $539,897New Haven, CT 4.9 4 Low Low 10.10% $465,333New Orleans-Metairie, LA 7.3 4.1 Low Low 11.80% $320,519New York-Newark-Jersey City, NY-NJ 3.8 6.5 Low High Mismatch 6.50% $771,265North Port-Bradenton-Sarasota, FL 12.5 4.8 Low High Mismatch 17.90% $479,698Oklahoma City, OK 25.1 3.6 High Low 17.50% $318,721Omaha, NE-IA 20.6 3.7 High Low 16.40% $392,633Orlando-Kissimmee-Sanford, FL 14.4 4.5 Low High Mismatch 14.20% $423,797Oxnard-Thousand Oaks-Ventura, CA 6.9 7.5 Low High Mismatch 13.10% $1,013,650Palm Bay-Melbourne-Titusville, FL 23.4 3.9 High Low 25.90% $384,857Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 8.7 3.4 Low Low 11.30% $372,115Phoenix-Mesa-Chandler, AZ 19.1 4.7 High High 14.50% $512,950Pittsburgh, PA 7.8 2.7 Low Low 13.70% $242,702Portland-South Portland, ME 5.9 5.6 Low High Mismatch 14.00% $641,960Portland-Vancouver-Hillsboro, OR-WA 10.6 5.1 Low High Mismatch 12.60% $602,917Providence-Warwick, RI-MA 9.9 5.3 Low High Mismatch 11.90% $566,817Raleigh-Cary, NC 18.4 3.7 High Low 12.60% $451,088Richmond, VA 17 4 High Low 16.50% $439,469Riverside-San Bernardino-Ontario, CA 15.8 5.6 High High 13.60% $599,154Rochester, NY 4.8 3.1 Low Low 11.20% $275,483Sacramento-Roseville-Folsom, CA 9.5 5.3 Low High Mismatch 13.40% $623,501Salt Lake City-Murray, UT 9.4 4.7 Low High Mismatch 10.30% $578,375San Antonio-New Braunfels, TX 36.3 3.6 High Low 22.70% $333,489San Diego-Chula Vista-Carlsbad, CA 13.4 7.5 Low High Mismatch 18.60% $968,285San Francisco-Oakland-Fremont, CA 3.3 5.7 Low High Mismatch 7.30% $958,645San Jose-Sunnyvale-Santa Clara, CA 2.7 6.9 Low High Mismatch 5.80% $1,359,153Scranton–Wilkes-Barre, PA 7.3 3.2 Low Low 14.00% $256,173Seattle-Tacoma-Bellevue, WA 10.8 5.4 Low High Mismatch 13.80% $762,296Spokane-Spokane Valley, WA 16.5 5.5 High High 19.90% $501,225St. Louis, MO-IL 15.9 2.9 High Low 15.40% $291,925Stockton-Lodi, CA 10.6 5.3 Low High Mismatch 12.00% $584,012Syracuse, NY 6.6 3.5 Low Low 13.70% $307,975Tampa-St. Petersburg-Clearwater, FL 18.4 4.5 High High 17.20% $406,643Toledo, OH 13 3 Low Low 11.40% $234,814Tucson, AZ 18.6 4.6 High High 19.60% $391,659Tulsa, OK 11 3.9 Low Low 15.50% $326,973Urban Honolulu, HI 28 5.5 High High 28.10% $678,865Virginia Beach-Chesapeake-Norfolk, VA-NC 42.1 4 High Low 31.70% $402,939Washington-Arlington-Alexandria, DC-VA-MD-WV 21.8 3.9 High Low 16.10% $601,948Wichita, KS 21.6 3.3 High Low 16.30% $293,057Winston-Salem, NC 15.9 4.2 High Low 14.20% $346,447Worcester, MA 15 4.9 Low High Mismatch 12.60% $551,979Average 15.0 4.4 14.6% $456,477

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