The VA loan program is living up to its original promise by helping narrow the homeownership gap for female Veteran and Veterans of color.
Black Veterans have higher homeownership rates than Black non-Veterans, and the difference in homeownership rates between white and Black Veterans is considerably smaller than the gap between white and Black civilians, according to a review of five years’ worth of Census data.
Millennial and Gen Z Veterans accounted for more than half of all VA purchase loans in a record year for this historic benefit program. Gen Z in particular is starting to make its presence felt in markets across the country.
VA loans had their biggest year ever in Fiscal Year 2021, thanks to interest rates near modern-day lows and a wave of younger homebuyers. Check out the biggest markets for this historic benefit program.
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.