VA Loan Statistics
See the statistics about what makes Veteran Loans so appealing to both active and former service members:
- Nearly three-quarters of active service members plan to buy a home in the next 5 years.
- Over 50% of active service members anticipate buying a home in the next 2-3 years.
- About 56% of service members and veterans predict it will be somewhat or very difficult to buy a home in the next year.
No down payment
Nearly 90% of VA-backed loans are made with no down payment. As a result, VA loans may offer better terms than a traditional loan from a private bank, mortgage company, or credit union. Southeast Home Loans offers flexible financing options and favorable terms for VA Home Purchase Loans.
Lower Credit Requirements
With more flexible credit requirements available compared to conventional loans, VA loans may make homeownership more accessible for individuals with lower credit scores. Southeast Home Loans can help homebuyers figure out what the credit requirements may be to easily qualify for a VA loan.
No Private Mortgage Insurance (PMI)
With conventional loans, private mortgage insurance is required for down payments of less than 20%. However, VA loans do not require PMI, resulting in significant savings on monthly mortgage payments. Paired with the competitive rates that Southeast Home Loans can offer, a VA loan might be the best choice to save money in the long run.
