VA Loans Gaining PopularityPosted by Eric Peterson on
VA Loans are hotter than ever. Over the last six years, more and more veterans and their families have flocked to the security and unmatched buying power of these government-backed loans. VA purchase loan volume continues to climb, jumping to $271,804 loans in 2014 from just 180,758 in 2009.
A tighter credit market and sagging housing industry have fueled renewed interest in this long-cherished program. VA loans feature more flexible credit and underwriting standards than conventional loans. Qualified military personnel and veterans can purchase a home with no money down or private mortgage insurance.
According to the Mortgage Bankers Association, VA loans remain the safest lending option on the market. That combination of purchasing power and…
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