VA Loans are Quite Popular Now

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Realtor.com recently reported that the VA loan program closed more mortgages in 2015 than any year in the program’s history.  The VA guaranteed about 631,000 loans for veterans last year, breaking the record set two years before.  Recently released figures show that VA loan volume surged 19% year over year.  For perspective, the VA guaranteed more home purchase loans in 2015 than total loans (purchases plus refinances) in fiscal year 2010.

And the outlook for the VA loan program is bright too.  A recent Deutsche Bank analysis reported that the population of younger veterans will rise about 36% over the next 5 years.  These young veterans will be in prime household-formation and home-buying years.

Experts have called VA loans “the most powerful residential loan product on the market.”  And in this time of slow wage growth and a tight housing market, more and more veterans are using these loans as their go-to financing source.

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So what makes VA loans so popular?  Here’s a quick summary of VA loan benefits:

  • Low Interest Rates – Even on jumbo loans
  • Low Down Payments – Veterans can even obtain loans with 0% down payments
  • No Monthly Mortgage Insurance

In future blog posts, we will review each of these great benefits in detail.  For now, if you are a veteran or if you know a veteran friend or family member who wants to buy a home soon, call or email me at Dunwoody Mortgage Services.  We will discuss your loan options with you and help you obtain all the great VA loan benefits you have earned with your service.  We love serving American veterans.  And we sincerely appreciate your service and sacrifice.

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One Response to “VA Loans are Quite Popular Now”

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