VA Loans: Helping Veterans Achieve Their Homeownership Dreams

The purpose of Veterans Affairs (VA) home loans is to provide a pathway to homeownership for those who have sacrificed so much by serving our nation. As the Veterans Administration says of the program:

“The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of their service. . . .”

For over 75 years, VA home loans have provided millions of veterans and their families the opportunity to purchase their own homes.

2020 Data on VA Home Loans

• 1,246,817 home loans are guaranteed by the Veterans Administration
• The average VA loan amount totals $301,044
• 178,171 of those using a VA Loan are first-time homebuyers

Top Benefits of the VA Home Loan Program

As we reflect on their sacrifice and honor our nation’s veterans, it’s important to ensure all veterans know the full extent of benefits VA home loans offer. As Jeff London, Director of the VA Home Loan Program, says:

“VA loans offer an extraordinary opportunity for veterans because of lower interest rates, lower monthly payments, no or low-down payments, and no private mortgage insurance.”

Those who qualify for a VA home loan are eligible for the following:

• Borrowers can often purchase a home with no down payment. In 2020, 350,094 individuals using a VA Loan were able to purchase their homes without putting money down.
• Many other loans with down payments under 20% require Private Mortgage Insurance (PMI). VA Loans do not require PMI, which means veterans can save on their monthly housing costs.
• Finally, VA-Backed Loans often offer the most competitive terms and interest rates.

Bottom Line

One way we can honor and thank our veterans this year is to ensure they have the best information about the benefits of VA home loans. Homeownership is the American Dream. Our veterans sacrifice so much in service to our nation and deserve to achieve their homeownership goals. Thank you for your service.

Find Your Next Home

[showcaseidx shortcode encountered an error]

Please call/text/message/email me to share your thoughts about your next home and I’ll identify your most important next step.
If you’re reading this late at night and want to start now, first send me an email, then focus on these items of the home buying process: 1) Download my Home Buyers Guide to learn general information (if you’re into doing your own research). 2) Talk to a quality mortgage lender and get pre-approved for financing. 3) Search for homes currently on the market to get a feel for the types of homes, locations, and price points available. 4) Read my Denver real estate blog (updated daily!) to further educate yourself about the market and relevant topics for home buyers. And of course, when in doubt, just call me and I will help you with each step of your journey.

Create Your Free MLS Home Search Account »

When It Is Time To Sell Your Home

Find out how much your home is worth and download my free guide for home sellers for helpful information. It is important to choose a REALTOR® who can develop an effective marketing strategy for your property, negotiate well on your behalf, and has the knowledge to provide an accurate market comparison so you can determine the right asking price. The market changes each week and your asking price is an important component of your selling strategy. I am here to listen and serve. I will share how your home stacks up against the competition, or how we can position your property to sell quickly and for a good price, or talk through any unique circumstances or goals. Contact me today to start a discussion…

Get A Quick Home Valuation »

My Denver real estate blog is updated daily with useful information for home buyers and sellers…
Real Estate Housing Market | Buying a Home | Selling a Home | Financing a Home | Renting | Homeownership | Investing