The number of VA loans issued in 2012 is 540,000 up 300% as compared to five years ago. Additionally, the US Department of Veterans Affairs (VA) reports that the VA has reached its 20 millionth VA Loan since 1944.
Union City, NJ (PRWEB) November 06, 2012
A record number of eligible veterans and service members have taken advantage of their benefit in 2012 making it a record breaking year for the VA home loan. This also includes those who have opted to Refinance their VA Home Loan. As noted by an article in the New York Times, the number of VA loans issued in 2012 is 540,000 up 300% as compared to five years ago. Additionally, the US Department of Veterans Affairs (VA) reports that the VA has reached its 20 millionth VA Loan since 1944.
“Having bought a home with my VA Loan I’m happy that other veterans are realizing the same benefits that I have,” said Grant Moon President of VA Loan Captain, Inc. and an Army veteran of Operation Iraqi Freedom.
Combined with record low interest rates and historically low housing prices, using the VA Loan can be a great opportunity if you are in the market to buy a home. Further, those that already own a home through the VA Loan Program and are currently paying higher interest rates can take advantage of the VA Streamline Refinance Program to reduce their rate. Those that own a home and have a conventional, adjustable rate or FHA loan can refinance through the VA Cash Out Refinance.
A VA Loan is a mortgage guaranteed by the US Department of Veterans Affairs (VA) allowing for 100% financing on purchases and refinancing existing VA Loans. Veterans and service members that meet the VA Eligibility Requirements can use the benefit to buy a new home or refinance an existing home. Because the mortgage is guaranteed by the VA the beneficiary pays no private mortgage insurance payments.
In addition to the loan details, financial education is an important aspect to home buying or refinancing. VA Loan Captain, Inc. provides resources so veterans who are thinking of purchasing or refinancing can be educated on the process. The VA Loan Captain website also provides a VA Home Loan learning center as an added resource.
About VA Loan Caption
VA Loan Captain Inc. is a company exclusively serving veterans and service members across the US through a platform of approved VA lenders. VA Loan Captain Inc. is a service disabled veteran owned small business registered in New Jersey and verified by the US Department of Veterans Affairs. The company is listed and searchable within the VA Vendor Information Pages.