Fort Benning puts thousands of active-duty soldiers, veterans and surviving spouses in this market at any given time, which means Columbus and Phenix City have a higher concentration of VA-eligible buyers than almost anywhere in the Southeast.
It also means a lot of bad information circulates. I've been working through the VA guidelines line by line, and these are the six things I see people get wrong most often.
Myth 1: You need a down payment
You don't. A VA purchase loan allows 100% financing on a primary residence, and that is still the single biggest advantage of the program. In a market where a lot of buyers are relocating on PCS orders and don't have a Georgia or Alabama home sale funding their next purchase, that matters more than a fraction of a point on the rate.
What you do still need is cash for earnest money and, in most cases, a portion of closing costs. Those are two different things, and confusing them is what stalls a lot of deals.
Myth 2: VA loans are slow and sellers won't accept them
This one is half-true, and it's usually the listing side's perception rather than the file itself. A VA loan closes on a normal timeline when the buyer is fully underwritten up front and the appraisal is ordered early. The delays people remember almost always trace back to a pre-qualification letter that was never verified, not to the VA.
If you're competing for a house in north Columbus or Smiths Station, a full credit-approved letter does more for your offer than an extra thousand dollars in price. Ask your lender for one.
Myth 3: You can only use it once
The benefit is reusable. Once you sell the home and the loan is paid off, your entitlement is restored and you can use it again on the next purchase. There's also a one-time restoration option in some cases where the loan is paid off but you kept the property.
Even better for a PCS market like ours: if you still have entitlement left over, you may be able to carry a VA loan on a home here and use remaining entitlement on your next duty station. That's a real conversation worth having before you list.
Myth 4: A disability rating doesn't change anything
It changes a lot. VA loans carry a one-time funding fee that varies based on your service history, your down payment, and whether it's your first use of the benefit. Veterans receiving compensation for a service-connected disability are exempt from that fee entirely.
On a typical Columbus-area purchase price, that exemption is worth thousands of dollars at the closing table. If you have a rating and your lender hasn't asked about it, that's a problem.
Georgia and Alabama also both offer property tax relief for certain disabled veterans. The rules differ by state and county, so confirm with the Muscogee County or Russell County tax office before you budget your payment.
Myth 5: The VA sets a loan limit you can't go past
Since the Blue Water Navy Vietnam Veterans Act took effect in 2020, borrowers with full entitlement no longer have a VA county loan limit capping their zero-down financing. Lenders still have their own limits, and you still have to qualify on income and credit, but the old "you can't buy above the county limit with a VA loan" line is outdated.
Where limits still apply is when you have reduced entitlement, usually because you're carrying another VA loan. That's the case worth actually running the numbers on.
Myth 6: The VA appraisal will kill the deal
VA appraisals include Minimum Property Requirements, which are habitability standards: working systems, safe roof, no exposed wiring, adequate heat, no active leaks. On a well-maintained home they're a non-issue.
Where they bite in our market is older inventory. Parts of Columbus have beautiful housing stock built long before current standards, and Phenix City has its share of fixer opportunities. If you're looking at a home that needs work, know going in that some repairs will have to be completed before closing, and negotiate for that up front instead of discovering it three weeks in.
What this means if you're buying here
The VA loan is the strongest financing product most people in this market will ever have access to, and it's routinely underused because of information that was accurate ten years ago and isn't now.
Two things to do before you shop. Pull your Certificate of Eligibility so you know exactly what entitlement you have. And get fully underwritten, not just pre-qualified, so your offer carries weight when you find the house.
If you're stationed at Benning, separating, or already own here and want to know what your entitlement looks like, I'm happy to walk through it. Nothing to sign, no cost to ask.
Tucker Watson is a mortgage loan officer serving Columbus, Georgia, Phenix City, Alabama, and the surrounding communities.
This article is general information, not lending advice or a commitment to lend. Loan programs, eligibility and fees are subject to change and individual qualification.
Discussion