Va Loan Ownership Statistics

In this post, we will explore a comprehensive collection of statistics surrounding VA home loans, shedding light on their prevalence, impact, and effectiveness in the housing market. From the sheer volume of loans guaranteed by the U.S. Department of Veterans Affairs to the foreclosure rates and borrower demographics, these figures paint a vivid picture of the significance of VA loans for veterans and the broader real estate landscape.

Statistic 1

"Since 1944, the U.S. Department of Veterans Affairs has guaranteed more than 23 million home loans for veterans."

Statistic 2

"As of 2019, more than half a million home loans were backed by the VA each year."

Statistic 3

"VA Loans have had the lowest foreclosure rate for the last seven years out of all loan types."

Statistic 4

"Approximately 8% of all mortgages in the U.S. are VA loans."

Statistic 5

"Where traditional loans may require a down payment, over 80% of VA loans are made with no down payment."

Statistic 6

"The average loan amount for VA loans rose to $282,000 in 2018, an increase over the previous year."

Statistic 7

"In 2018, 610,512 home loans were guaranteed by the Veterans Administration."

Statistic 8

"Approximately 2.07 million people currently have an outstanding VA loan."

Statistic 9

"In 2017, veterans in Florida held 8% of all VA loans, the highest proportion of any state."

Statistic 10

"In 2018, VA loans made up 2% of the mortgage loan market in America."

Statistic 11

"The overall volume of VA loans has increased 343% since 2007."

Statistic 12

"In 2019, 78% of VA home purchase loans were made without a down payment."

Statistic 13

"Approximately 60% of eligible borrowers choose to use a VA home loan."

Statistic 14

"In 2018, VA loan borrowers had an average credit score of 707."

Statistic 15

"The average age of the first-time VA Loan buyer is between 18-34 years old."

Statistic 16

"As of 2019, the percentage of VA loans in active foreclosure was only 2.59%."

Statistic 17

"In 2020, there were 1.2 million VA loans issued."

Statistic 18

"In the fiscal year 2020, the total amount of VA guarantees on home loans was $363.3 billion."

Statistic 19

"As of 2020, the VA Home Loan Program has guaranteed nearly 27 million loans worth more than $4 trillion."

The statistics presented on VA loans demonstrate the significant impact and popularity of this program among veterans and active military members. The data highlights the reliability and success of VA loans, as evidenced by the low foreclosure rates and high loan volumes. The increasing trend in the number and total amount of VA guarantees reflects the trust and preference borrowers have in this program. The flexibility of VA loans, such as no down payment requirements and lower credit score thresholds, make homeownership more accessible to a wide range of individuals. Overall, the statistics affirm the VA Home Loan Program’s vital role in supporting veterans and their families in achieving homeownership.