Let me start with something most real estate blogs won’t tell you: I have stood right where you’re standing. I spent 20 years in the United States Navy. My first duty station was in Puerto Rico, and then I came here to Hampton Roads — and like a lot of military families, we rented first, got our footing, and bought our home a few years later. I was fortunate to put down roots in one region for most of my career, but I know the upheaval of constant moving in my bones, because I grew up in it: my stepdad’s work kept our family on the move for years. So when I talk to you about picking up your life and starting fresh somewhere new, this isn’t something I read in a training manual. I’ve lived it.
That matters, and here’s why. There are plenty of good REALTORS in Hampton Roads. But very few of them can tell you they served 20 years in the Navy and used their own VA loan to buy a home. I did. I know the questions that keep you up at night when a move is on the table — buy or rent, can we afford it, what happens if orders send us somewhere else down the road. We’re going to walk through every one of those together.
Here’s my own story, plain and simple. When I bought my first home, I used my VA loan — and honestly, I didn’t really know what I was doing. What made it work was having a great REALTOR in my corner who handled the details and connected me with the right people. The market was on my side, the seller covered the concessions, the home inspection came back clean, and before I knew it I was a homeowner without having drained my savings to get there. That experience stuck with me. It’s a big part of why I do this work today — because I felt firsthand how much a good guide matters when you don’t know what you don’t know.
This whole series is built to do one thing: make sure you never leave money — or peace of mind — on the table simply because nobody took the time to explain how this works. And it starts with the single most powerful tool you’ve got, one you earned through your service: the VA loan.
First, let’s clear up the biggest misunderstanding I hear. The VA doesn’t hand you the money. The Department of Veterans Affairs doesn’t write you a check or become your bank. What it does is guarantee a portion of your loan — it stands behind you. A regular private lender still makes the loan, but because the government has your back on part of it, that lender can offer you terms no civilian buyer can touch.
Think of it as a benefit you earned, sitting there waiting to be used. It was created after World War II to help service members come home and build a life. Decades later, it’s still one of the best home-loan programs in the entire country — and it belongs to you.
Why the VA Loan Is in a League of Its Own
No down payment required. For most buyers, this is the whole game. You can finance up to 100 percent of the purchase price. No years of scraping together a down payment before you can get in.
No private mortgage insurance. Conventional and FHA loans hit you with monthly mortgage insurance when you put little down. The VA loan doesn’t. That’s money that stays in your pocket every single month.
Competitive interest rates. Because the loan is government-backed, VA rates are typically as good as or better than conventional rates — which adds up to real money over the life of the loan.
Limited closing costs. The VA caps certain fees a lender can charge you, and some costs can be covered by the seller. It keeps your out-of-pocket cash at closing low.
No prepayment penalty. Pay the loan down early, refinance, or sell whenever you need to. There’s no penalty for it — which matters a lot when you might get orders at any time.
You can use it again. This isn’t a one-and-done benefit. Used right, it’s a tool you can lean on for the rest of your life.
Let’s sit on this one, because it’s the reason the VA loan changes lives. On a conventional loan, you’re often looking at putting down anywhere from 3 to 20 percent. On a $350,000 home, even 5 percent is over seventeen thousand dollars you’ve got to have saved before you can even start. For a young service member, that’s often the wall that keeps renting year after year.
The VA loan takes that wall down. You can buy with zero down. That means you can stop paying somebody else’s mortgage through rent and start building your own equity years sooner than you thought possible. I’ve watched sailors in their early twenties become homeowners because of this benefit — people who were sure homeownership was a decade away.
Here’s one that quietly saves you a fortune. On most low-down-payment loans, you pay private mortgage insurance, or PMI — an extra monthly charge that protects the lender, not you. Depending on the loan, that can run a couple hundred dollars a month. The VA loan has none of it. Zero.
Run that out over the years and it’s thousands upon thousands of dollars that stay with your family instead of going to an insurance line item. When we get to Blog 4 and talk about what you can actually afford on your BAH, this is a big part of why VA buyers can stretch their housing dollar further than most people expect.
I promised you straight talk, so let’s cover the one cost that surprises people. Remember how I said there’s no monthly mortgage insurance on a VA loan? In its place, there’s a one-time charge called the funding fee. It helps keep the whole program running for the next generation of service members — and it’s a lot smaller than the down payment and the monthly insurance you’re not paying.
Worth Knowing About the Funding Fee
It’s a one-time cost, not a monthly one — and in most cases you can roll it right into the loan instead of paying it out of pocket at closing.
The amount depends on a couple of things, like whether it’s your first time using the benefit and whether you put any money down. Put a little down and the fee actually goes lower.
As of 2026, it generally runs somewhere between about 0.5% and 3.3% of the loan amount, with most first-time buyers putting nothing down landing right around 2.15%. Congress adjusts these numbers from time to time, so treat that as a ballpark and confirm the current figure with your lender.
Here’s the big one: if you have a service-connected disability rating, the funding fee is waived entirely. Many veterans pay nothing at all. Always confirm your current status — it’s worth checking.
Two features that make the VA loan special for military families in particular. First, it’s reusable. You can use your benefit, sell down the road, restore your entitlement, and use it again on the next home. For a career that moves you every few years, that’s huge — the benefit moves with you.
Second, VA loans are assumable. That means when you sell, a qualified buyer may be able to take over your existing loan — including your interest rate. In a market where rates have climbed, a low assumable rate can make your home stand out and sell faster. It’s an advantage most sellers don’t even know they’re sitting on. We’ll come back to this when we talk about long-term wealth in Blog 9.
Most active-duty service members, veterans, National Guard, and Reserve members qualify once they meet the service requirements, and many surviving spouses do too.
The proof is a document called the Certificate of Eligibility, or COE — and it’s usually quick to pull. If you’ve got questions about whether your service time qualifies, that’s exactly the kind of thing I help people sort out before we ever go looking at homes.
Getting truly ready is about more than eligibility, though. Your credit and your overall financial picture shape the rate and terms you’ll be offered — and that’s the whole focus of Blog 3, where we’ll walk through VA loan readiness step by step.
Because these bad ideas cost military buyers real opportunities, let me set the record straight on the three I hear most often.
Not with the right team. A lender who knows VA loans closes them on the same kind of timeline as any other loan. The slow horror stories almost always trace back to someone who didn’t know the program. Work with people who do it every day — that’s the fix.
Here in Hampton Roads, that’s just not the reality. This is one of the most military-heavy markets in the entire country. Sellers and their agents see VA offers constantly, and a well-written one from a qualified buyer is strong. Part of my job is presenting your offer so it competes — more on that in Blog 6.
Already covered, but it’s worth repeating because it stops people cold: false. This is a benefit you can use again and again across a career. Don’t let anyone convince you it’s a one-shot deal.
If you’re stationed here or headed this way, you’re in one of the best places in the country to put this benefit to work. Here’s why:
The largest naval base in the world is right here. Norfolk, plus Langley, Fort Gregg-Adams, the shipyards, and more — the military presence isn’t going anywhere, and that means a steady, resilient housing market.
Sellers here understand VA loans. You’re not fighting an uphill education battle. This community runs on military families.
Your BAH can go a long way. With no down payment and no PMI, your monthly housing allowance often stretches into real ownership. We’ll do that math together in Blog 4.
Lots of cities, lots of price points. Virginia Beach, Norfolk, Chesapeake, Portsmouth, Suffolk, Hampton, Newport News — there’s a way in that fits your budget and your commute. Blog 5 is all about choosing the right area.
This blog is the foundation — the VA loan is what everything else stands on. Over the next eight blogs, we’re going to walk the whole journey together, from your first decision all the way to building lasting wealth:
1. Buying vs. Renting During a PCS — how to make the right call when you don’t know how long you’ll be here
2. Credit and VA Loan Readiness — getting your financial picture ready so you get the best terms
3. BAH and Home Affordability — turning your housing allowance into real buying power
4. Choosing the Right Area — commutes, tunnels, base access, and the neighborhoods that fit your life
5. Making an Offer With a VA Loan — how to write an offer that wins in a competitive market
6. VA Appraisals and Inspections — what to expect and how these protect you as a buyer
7. PCS Timeline and Relocation Planning — lining up your home purchase with your orders and report date
8. Building Long-Term Wealth Through Homeownership — why this one move can pay off for the next 20 years
Every one of these goes deep. We’re not skimming the surface. This is the education I wish somebody had handed me before my first move.
You earned this benefit through your service. Nobody handed it to you — you earned it. The worst thing I see is a service member who never uses it, or uses it without really understanding it, and leaves thousands of dollars and years of equity on the table. That’s the whole reason I put this series together.
Let me leave you with one number. That home I bought with my VA loan? I still own it, 28 years later. I paid $89,000 for it. Today it’s worth well over $340,000. That’s what this one benefit, used wisely, can set in motion — and it’s exactly where we’re headed in Blog 9.
Whether you’re staring down a set of orders right now or just starting to think a few moves ahead, the best next step is simple: a conversation. Not a commitment. Just a conversation, veteran to veteran, so you know what your options actually are.
Let's Talk
If you have questions about using your VA loan benefit in Hampton Roads, book a free consultation at coastalva.chat — there's no obligation, just answers.
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About the Author: Marc Ian Griffin, aka Captain Real Estate, is a licensed REALTOR and Wealth Advisor with Coastal VA Estates LLC, powered by Keller Williams Town Center. A retired U.S. Navy veteran, Marc has called the Hampton Roads area home since 1992. He entered real estate in 2006 because he saw what was happening to everyday families who were losing thousands and, in many cases, losing their homes simply because they didn't have the right person guiding them through the potential real estate pitfalls — and he was determined to be that person. After a period away from the industry, he returned in 2025 with that same mission. Marc serves buyers and sellers across Virginia Beach, Norfolk, Chesapeake, Portsmouth, Suffolk, Hampton, and Newport News.

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Deep market knowledge.

Honesty and transparency.

Top-notch services.
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