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

Red tape and absence of understanding have actually held 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 program, established in 1944 as part of the GI Bill, had an overall total of $427 billion worth of loans outstanding at the conclusion of September, up from $380 billion last year, relating to Inside Mortgage Finance, a Bethesda, Md. -based home loan book. Meanwhile, how many brand new VA loans happens to be for a climb that is near-steady 1995, increasing from $24 billion to $124 billion in 2013. Continue reading →