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VA Loan Stats - NAR 2009

Posted on November 17, 2009 by ERA Landmark

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.

 

 

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