VETERANS ADMINISTRATION HOME FINANCING IN STAFFORD COUNTY VA - VA LOANS
November 1st, 2010VETERANS ADMINISTRATION HOME FINANCING IN STAFFORD COUNTY VA - VA LOANS
VETERANS ADMINISTRATION HOME FINANCING IN STAFFORD COUNTY VA - VA LOANS
BULLETIN FROM THE VETERANS ADMINISTRATION
DATE: November 1, 2010
VA Backs 19 Million Home Loans
Home Loan Program Going Strong Despite Tight Market
WASHINGTON (Nov. 1, 2010)- With mortgage rates at historic lows,
Veterans and military personnel continue to use the Department of
Veterans Affairs (VA) home loan program in record numbers to purchase a
home or refinance their existing loans.
“Home ownership is one of the foundations of the American dream,” said
Secretary of Veterans Affairs Eric K. Shinseki. “VA is honored to
administer a benefit that for two-thirds of a century has profoundly
affected the lives of our Veterans, our military Servicemembers, and
their families.”
Since the VA Home Loan program began in 1944 as part of the Montgomery
GI Bill, VA has helped Veterans by guaranteeing more than 19 million
home loans, valued at more than $1 trillion. During the past four
years, the number of Veterans VA has helped purchase a home has risen by
63 percent.
VA’s foreclosure rate for the last nine quarters and serious delinquency
rate for the last six quarters have been the lowest in the housing
industry, even when compared to prime loans, according to the Mortgage
Bankers Association’s National Delinquency Survey.
Most Veterans, Servicemembers, Reservists and National Guard members, as
well as some surviving spouses, are eligible for the program, which
provides an opportunity for borrowers to qualify for no-downpayment home
loans as well as regular and interest-rate-reduction refinance home
loans.
Shinseki attributed the “professionalism and savvy” of VA employees and
the “unshakeable sense of responsibility” among Veterans and military
personnel as key factors for maintaining a low foreclosure rate on
VA-backed home loans.
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988. Serving VA home buyers in Maryland and Northern Virginia.







