With a white-hot housing market and low interest rates, Veterans turned to their home loan benefit in numbers never seen before. The average VA purchase loan came in just under $345,000, a 13% increase from last fiscal year.
With 70% of new homeowners projected to be Hispanic between now and 2040, Census data show the homeownership rate for Hispanic and Latino Veterans is nearly 20 percentage points higher than for non-Veterans.
Despite rising rates, surging home prices and lingering COVID-19 concerns, Veterans are hot on homebuying in 2021 and beyond.
Millennial and Generation Z Veterans helped drive the VA loan program to a record year. See which cities led the way in Veteran homebuying and experienced the biggest year-over-year gains.
The historic VA loan program backed an all-time record 1.2 million loans in Fiscal Year 2020. See which cities led the way in VA loan usage and growth year-over-year.
Getting a home loan from a mortgage lender means you’re interacting in what’s known as the primary mortgage market. Many lenders turn around and sell some or all of their loans and the right to service them to investors in what’s known as the secondary mortgage market.
Many first-time homebuyers are surprised to learn there isn't one uniform set of guidelines and requirements for a VA home loan.
Making biweekly mortgage payments can be an easy way for VA homebuyers to pay off the loan faster, reduce interest charges, and build equity.
Veterans are turning to their home loan benefit in never-before-seen numbers, driven by rock-bottom interest rates and a surge in refinance interest.
During this unprecedented homebuying season, thousands of veterans are still closing on VA home loans every single week. But two parts of the process -- the VA appraisal and home inspections -- might look a bit different for some buyers, depending on how the coronavirus is impacting their community.