Leveling the Playing Field for Our Military Veterans
At EXIT Realty Upper Midwest and our real estate franchises within the region, we strive to level the playing field for our home buyers. Realtor.com has shared three of the main reasons Millennial Buyers Love VA Homes we felt it important to share with you.
PHOTO CREDIT: Veterans United, www.Realtor.com
Millennial veterans and military members are helping fuel the resurgence of the historic VA loan program. Last year’s 700,000-plus loans were more than double the agency’s total from five years ago.
Younger buyers in particular have flocked to these government-backed mortgages during a time of tight credit and flatlining wage growth. The VA says millennials accounted for about a third of all VA loans last year.
These low-interest loans offer qualified buyers a wealth of benefits. That’s especially true for millennial borrowers, who often have dented credit or minimal savings. This $0 down payment loan program was created to help level the playing field for those who serve our country, and it’s still doing so today.
“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,” said Jeff London, director of the VA home loan program.
Here’s a closer look at three of the big benefits that make VA loans such a good match for millennial home buyers.