Delinquency Rates VA Loans in the US 2000 to 2023
Given the challenges of long deployments, service-related injuries/ disabilities, historically low pay, and the meager cost of living adjustments, what a phenomenal statistic.
VA Home Loans Add $4Trillion
\to the US Economy Since WW2
An independent analysis released on the 80th anniversary, VA home loans have contributed nearly $4 trillion to the US economy over their 80-year history.
FHA – VA LOANS – 640 FICOs OK
The findings from University of Missouri economics professor Joseph Haslag point to a dramatic return on taxpayer investment in veterans’ homes since the home loan program began at the end of World War II.
Annual projected number of living in WWII
US military veterans from 2021 until 2036
The home loan program is among the most popular and best-known benefits for American veterans. Individuals who qualify can receive low interest rates and smaller closing costs, with ZERO Down to COE.
According to VA Dept. statistics, loan volume reached a record high of more than $447 billion in 2021.
The department is backing over 3.7 million active home loans, including over 400k new loans in 2023 alone. Officials are expected to issue their 30 millionth home loan later this year.
Haslag found that over the last eight decades, the total value of loans purchased through the program has reached about $3.2 trillion.
But those costs are primarily held by veterans themselves.
14th Annual Golf Tourney at Camp Pendelton
1st Marine Division Headquarters Battalion – Oct 18, 2024
The loan program guarantees against default for lenders, meaning the costs to taxpayers only occur when individuals fail to make mortgage payments.
Many home purchases (and related local economic benefits) would not have occurred without that backing. As a result, Haslag wrote in his analysis that the program “has been a huge success” for the country.
Despite the program’s popularity, company surveys of veterans showed that about one in five veterans, among other misconceptions, believes the benefit can only be used once.
More info on the benefit is available through the department’s website.
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