29 Oct '14, 4pm

VA News Releases: VA Guarantees its 21 Millionth Home Loan

VA’s Home Loan Program provides housing-related benefits and services to make home ownership possible and affordable for eligible Veterans, Servicemembers and surviving spouses, who want to buy, build, repair or adapt a home. Nearly 90 percent of all VA loans are made with no down payment. In fiscal year (FY) 2014, the Home Loan Program guaranteed roughly 35,000 loans per month, resulting in a total of 438,398 VA home loans guaranteed for the year. The total value of all outstanding VA loans exceeds $380 billion. During FY 2014, the program also approved 1,253 grants to seriously disabled Veterans for the purchase, modification, or construction of a home specially adapted to meet their individual housing needs.

Full article: http://www.va.gov/opa/pressrel/pressrelease.cfm?id=2652

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