The VA home loan has an incredible track record. Let’s discuss VA loan benefits.
What are the benefits of VA home loans? Well, did you know that VA home loans perform better than any other kind of loan? In fact, the default rate for VA loans is just 1.98%, compared to the 6.1% default rate carried by FHA loans. Given how accessible VA loans are for qualifying homebuyers, this might surprise you. However, the truth is that it’s the quality of the homebuyer that makes a real difference here. Clearly, the veterans who are making use of this loan product are responsible consumers! VA home loans are special because of the overall creditworthiness of the lending pool.
If you have any other questions, would like more information on the benefits of VA loans, or have been thinking of applying for the veterans loan, feel free to give us a call or send us an email. We look forward to hearing from you soon.
Update – New FHA default numbers are posted at 3.9% for 2019.