Only Half of Service Members Are Aware VA Loans Require No Down Payment

Rocket Mortgage data highlights persistent awareness gaps limiting VA loan utilization among eligible service members DETROIT, May 12, 2026 /PRNewswire/ -- As U.S. homebuyers grapple with affordability concerns, new data from Rocket Mortgage shows fewer than half (48%)2 of eligible service members consider a VA loan. Awareness of key benefits is also limited: only 54% know VA loans require no down payment1, and just four in 10 (39%) realize they don't require private mortgage insurance (PMI)1, despite median savings of $10,600 in 2025 compared with a similar conventional loan with PMI4.