Why Are VA Loans a Great Way to Finance a Home?

VA loans are a light in the darkness of rising home prices and the lack of affordable homes. An increasing number of millennials are taking advantage of VA loans to buy. This is especially true for homebuyers in cities like Houston that are near military bases.

When it comes to mortgages, VA loans are about the best you can get. With no down payment, no mortgage insurance, and super-low interest rates, they save homebuyers significantly—both up-front and over the long haul.

And while VA loans have historically been underutilized, it seems Millennials are looking to buck that trend. In fact, according to data from the Department of Veterans Affairs, the share of Millennials using a VA loan jumped 14% over the last year alone.

VA loan activity jumped with Generation Z buyers, too, and combined, the two generations accounted for 45% of all VA purchase loans originated in the past year.

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