The Department of Veterans Affairs (VA) offers special benefits to those who have served in the armed forces. One of the benefits is VA loans—low-interest loans meant for eligible military personnel, veterans, and their spouses. The loans can help the beneficiaries become homeowners. There are several other features of these loans that even eligible veterans may not know, which stops them from applying for VA loans and making the most out of this benefit. 1. No down payment requirement Arguably, the best feature of VA loans is that one does not have to make a down payment on a home to get a VA home loan. Often, one may have to shell out tens of thousands of dollars to secure the loan and be able to buy their dream home. VA loans eliminate the need for arranging down payment money, so VA loan beneficiaries do not have to put off buying a home. This benefit of VA loans speeds up the process of buying homes. 2. Lenient credit score guidelines A major loan deterrent for many is their creditworthiness, which is determined by their credit score— a number that takes into account one’s credit history, loan repayment history, and how promptly debts are repai.