Originally Posted by Tic
Maybe, but one thing that's often overlooked is that there is a VA funding fee associated with the loan. Basically it takes the place of PMI to 'invest' you into paying back the loan. First go-around it's something like 1.5% of the purchase price; after that it hikes up to 3.5%.
So let's say you buy a home during residency for $150K, fee = $2250. Later on you want to buy a home on that attending salary for $350K, fee = $12250 (rather than $5250 at the lower rate).
My logic was that no down payment and a relatively low monthly payments during residency make it more reasonable for most residents to get into a home. As an attending, a reasonable down payment should be possible and a 15 year fixed rate mortgage would probably be a better option than the USAA loan...