Good question!  Short answer: there is no ‘catch’ but there are two expenses associated with a home purchase on a VA loan.

Longer answer:  No money down specifically means nothing down against the loan on your home.  There are two expenses you should be aware of, though.

First, with a signed contract, you will have to provide earnest money to the title company or designated earnest money holder.  This IS money you usually get back at closing and ranges from $500-1500 (I’ve had great success negotiating $500 here in Colorado).  The other expense is the home inspection; this is a “sunk cost” and runs about $250-280.

Summative answer:  you CAN buy a home with a VA loan for $780-1780, most of which is usually returned to you at closing.

Questions?  Looking to buy or sell in Colorado Springs? I’d be honored to earn your business!

Rob – 719-440-6626