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Hi, I'm Ella Gurfinkel, your host of the AskElla Show and senior loan officer at Fairway Independent Mortgage. On my podcast, I cut through the noise to bring you honest conversations about real estate, mortgages, and financial planning.
I interview industry experts to tackle everything from homebuying basics to complex topics like reverse mortgages, trusts, and market trends. With decades of experience, I'm passionate about dispelling myths and providing clear, actionable advice.
Whether you're buying your first home, refinancing, or planning for retirement, I'm here to help you make informed decisions. Join me for straightforward talk about real estate and beyond!
Stop scrolling. If you have served this country and you still don't own a home, I need you to watch this right now because a brand new survey just dropped and what it revealed made my blood absolutely boil. Veterans, people who put their lives on the line for this country, are sitting on one of the most powerful home buying benefits in existence. and most of them don't even know how to use it. I am Ella Gerfinkle, senior loan officer with over 30 years of experience and over 2,000 families served. And today we're fixing that right now.
Here's what the data says. A 2026 survey of over 1,200 active and former military service members found that while 63% of veterans know the VA home loan benefit exists, the majority have no idea how it actually works. One in three veterans received little to no education about this benefit during or after their service. 30% nearly a third aren't even sure if they qualify. And here is the gut bunch. 49% of veterans believe home ownership is completely out of reach. Nearly half because of costs they think they have to pay that they actually don't. That is not a housing problem. That is an education problem. And we're going to fix it right here, right now. The survey asked veterans, "Does a VA loan require a down payment?" 30% said, "Yes, it does." 38% said they had no idea. Only 32% got it right. So, let me say this loud and clear. VA loans require zero down payment. Zero. Zilch. Nada. You can buy a home, a real home with absolutely nothing down. I just closed the VA loan last week. Zero down. The buyer is a veteran who spent years thinking he needed to save up tens of thousands of dollars first. He didn't. He could have been in a home years ago. Every month you waited because you thought you needed a down payment. That was money you paid in rent building someone else's wealth, not yours. And that ends today. Myth number two, private mortgage insurance, PMI. On a conventional loan, if you put down less than 20%, you pay PMI every single month. It's basically a fee you pay to protect the lender, not you, the lender. VA loans, no PMI ever, regardless of how much you put down. But here is what the survey found. Only 23% of veterans knew this. 23% 30% actually believed PMI was required on VA loans
kill me. That misconception alone is costing veterans hundreds of dollars a month in payments they think they'll have to make on a fee that doesn't even exist for them. That's not just a myth. That's money left on the table every single month. Now, here is one that doesn't get talked about enough, and it should. Basic allowance for housing, BAH. That tax-free monthly benefit you receive for housing, it counts as qualifying income for your VA loan. Only 42% of veterans surveyed knew this, which means more than half of you may be underestimating your own buying power right now. When I work with a veteran client, BAH is one of the first things I look at because it can dramatically increase what you qualify for. It can be the difference between I can't afford this and let's write the offer. If your lender isn't factoring in your BAH, find a new lender immediately. Now, let me show you what these myths are actually costing veterans and real dollars. The survey found that only 21% of veteran nonhomeowners are likely to buy in 2026 when they think they need a down payment and closing costs upfront. But when you remove those upfront costs, which the VA loan essentially does, that number nearly doubles to 40%. Think about that. Twice as many veterans would be buying homes right now if they just understood the benefit they already earned. Meanwhile, home prices aren't waiting. They're not dropping. Every month you sit on the sidelines because of a myth. That's equity you're not building. That's wealth you're not creating. That's your family's financial future sitting on pause. And for the veterans who already own a home, I'm not done with you either. The survey found that 41% of veterans are carrying high debt that eats your paycheck every month. But only 36% knew that a VA cash out refinance can be used to pay off that debt. You can tap into your home equity, pay off high interest balances, and potentially lower your overall monthly financial burden using a benefit you already have. That is not a trick. That is your benefit working for you. Look, you serve this country. You earned this benefit. And the fact that a survey this year, 2026, is showing us that half of veterans don't understand how it works, that is unacceptable. And it stops here. No down payment, no PMI, BAH counts as income, and yes, you almost certainly qualify. Now, here is what I want you to do right now. Book a free consultation with me. No pressure, no sales pitch, just honest math and a real conversation about what you've earned and how to use it. Because here is the truth. The VA loan is the single most powerful home buying tool available in this country. And it has your name on it. Don't let a myth keep you out of a home you've already earned. I'm Ella Griffin. I'll see you in the next one.
Heat. Heat.