We are now in 2017, strong statistical data for VA Loans are here and it looks good! VA Loans saw the largest year in program history, with 707,107 guaranteed home loans!
VA Loans Are A Major Resource
VA Loans are a major resource and lifeline for Veterans and military families. Veterans sometimes face unique situations from the average home buyer. VA loans (2016) continue to bring stability into 2017 that actually reach a large demographic of home buyers.
This is great news for our Veteran brothers and sisters, but this also has a positive impact on our economy and young home buyers. The VA estimates that around a third of all the VA loans last year were accounted for by millennial-age veterans and military members. This positive news is nice to read, especially if you are following the reports from Trulia about young home buyers.
- In 2015, California saw 70,413 total VA home loans with an average loan amount of $364,351.
- In 2016, California raised that total to 78,938 and an average of $382,038.
A Veteran should never have to lose their home or be restricted from purchasing. Remember, VA loans allow buyers to purchase a home with no down payment, no mortgage insurance, and less than perfect credit.
EGA Homes – Military Housing Division
These benefits come with unique requirements, and we personally recommend working with a Veteran friendly real estate office to make sure you are not wasting your opportunity.
In conclusion, the overall growth and stability of VA Loans is encouraging for the future. It was not that long ago that we often saw doubt from those in the real estate industry.If you have not considered looking into a VA Loan, 2017 is the perfect year to begin! EGA Homes is proud to see these strong program numbers. Veterans realize the strength of the VA loan and the support it brings to families across America.