Military Homebuyer Colorado Springs January 2014 | Page 10

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VA LOAN

CULTURE

VA Loans Gaining
In Popularity
VA LOAN USAGE IS UP 305 PERCENT IN JUST
FIVE YEARS
VA loans are hotter than ever. Over
the last five years, veterans and their
families have flocked to the security
and unmatched buying power of these
government-backed loans. VA loan
volume has soared 305 percent since
2007, jumping to 539,884 loans in
2012 from just 133,313 in 2007.
A tighter credit market and
sagging housing industry have
fueled renewed interest in this longcherished 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 out-of-pocket costs.
According to the Mortgage Bankers
Association, VA loans remain the safest
lending option on the market. That
combination of purchasing power
and protection is pushing thousands
of veterans and military personnel to

explore the significant home lending
benefits earned by their service.
One of our goals at Veterans United
Home Loans is to ensure we find the
loan that best meets the unique needs
of our borrowers. In some rare cases,
the answer isn’t a VA loan.
For example, veterans who can
manage a 20 percent down payment
might sometimes find conventional
financing a better fit. VA loans also
can’t be used to purchase investment
properties or vacation homes.
But for the vast majority of
military borrowers, VA loans are the
most power