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Why more veterans aren’t using VA loans to get a house

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Why more veterans aren’t using VA loans to get a house

Red tape and shortage of understanding have actually kept more soldiers from making use of VA loans

DanielGoldstein

The Department of Veterans Affairs (VA) can point to a seemingly impressive statistic in that effort — 22 million veterans in the U.S., 21 million VA home loans on a day when Americans pause to honor servicemen and women.

The VA mortgage loan system, created in 1944 included in the GI Bill, had an overall total of $427 billion worth of loans outstanding at the conclusion of September, up from $380 billion this past year, in accordance with Inside home loan Finance, a Bethesda, Md. -based home loan book. Meanwhile, how many brand brand new VA loans is on a climb that is near-steady 1995, increasing from $24 billion to $124 billion in 2013. The sheer number of brand new VA loans declined a year ago to $110.8 billion, the very first year-over-year decrease since 2010. Continue reading

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