1. There were roughly 180,000 VA purchased loans last year although
,000
there are roughly 25 mill n people eligible
5 million
What is a VA Loan?
VA loans provide No Money Down mortgage options for US military. They are serviced by private lenders, but guaranteed
by the US government. No PMI and 90% refinance options are other benefits. Learn more below.
start
as of
January 1st, 2010
the maximum VA this amount may
loan amount with rise to as much as Total Loan
no down Amount in 2009
payment is
$1,094,625 $68,200,786,687
in certain specified Total Guaranteed
$ 417,000 "high-cost coun- Amount in 2009
ties" No monthy $17,492,203,150 f inish
# of Interest Rate PMI
Reduction loans in
2009 The number of VA loans 31.6% of all VA loans
122,251 has risen from $165,845 were given to veterans
in 2005 to $325,690 between the age of
26-35.
Average per loan in 2009 (179,670 in 2008)
an additional 28.5%
$209,404 in 2009 between 36-45
that’s over vs
90% Average per loan
150,140
$
in 2008
In 2009, VA loans
163,441 of the180,896 nearly 1/3 of all VA
helped 91,818 VA Loans in 2009 loans in 2009 went to
veterans purchase Gulf War veterans
did not have to pay (3.2%)
their first home. downpayments
(17,000 more than in 2008)
2008 2009
only17,455 of the 180,000
veterans who applied for VA
loans in 2009 had to place a
downpayment