VA Loan Stats - NAR 2009

Robyn Erlenbush
CRS, GRI, CRB, Broker Owner
Phone: (406) 586-1321
Send me an email

In her recent visit to the National Association of REALTORS® conference in San Diego this year, Robyn had some pretty interesting stats to share about VA Loans from Mark Bologna, Director of Loan Guaranty Service.

• VA has a 2.1% foreclosure rate on loans, amazing considering that 98% of all borrowers do not put any money down on their home purchase.
• VA also has no minimum FICO scores; however the tracked average FICO score is 703.
• The average purchase price is $208,000 with $6800 in liquid household assets.

Why is the default rate so low? Mark Bologna cites the character of the borrower. While serving in Iraq, they are helping rebuild a country and trust. They understand and 'get' the definition of commitment.

Also, the VA has made it much easier to obtain the Certificate of Eligibilty for veterans who are looking to make this important purchase. Click the link to read more about how to obtain your certificate. http://www.homeloans.va.gov/eligibility.htm