Over the years there has been a lot of misinformation as it relates to VA Mortgages. A stigma that has managed to attach itself to Veterans and VA Mortgages is that the borrower (the Veteran or Active Duty Service Member) is somehow less qualified because they are using their VA Home Loan Benefit. The reality is that this could not be further from the truth. According to a Press Release published by the Office of Public and Intergovernmental Affairs “Home loans guaranteed by the Department of Veterans Affairs continue to have the lowest serious delinquency and foreclosure rates in the mortgage industry. Veterans have also taken advantage of their home loan benefit in record numbers, as VA loan originations reached their highest total in eight years.”
The Press Release goes on to state that “According to the Mortgage Bankers Association National Delinquency Survey, VA’s foreclosure rate for the last 14 quarters and serious delinquency rate for the last 11 quarters have been the lowest of all measured loan types, even prime loans.”
Thats some pretty powerful information wouldn’t you say? VA Mortgages have performed, meaning VA borrowers by enlarge continue to make their monthly VA Mortgage payments on time more than any other type of home loan on the market today be it Conventional or FHA. My personal feeling is that this is a direct reflection of the integrity of our great men and women who serve and have served our country.
Having said said, it’s important to understand that your VA Mortgage is one of the best product options available to our nations finest who have so honorably defended this great nation. So if you are in the market to purchase a home and have not considered using your VA Home Loan, it’s time to reconsider. The VA Mortgage has been, and will continue to be one of the very best home loan options available on the market.
If you have questions about your VA Home Loan and VA Mortgages in general, feel free to give us a call at 602-908-5849.
Thank you and may God bless you for your service to our great country.
Press Release Cited Below