Service | Speed | Satisfaction

  • BLOG
  • VA Loan Market is on Fire — Here's What You Need to Know

VA Loan Market is on Fire — Here's What You Need to Know

2020 will forever be known as The Year of the VA Loan. Millions of service members took advantage of benefits like the Department of Veterans Affairs VA home loan program and achieved their dream of owning a home. With more VA-backed loans in 2020 than in the two previous fiscal years combined (upwards of 1.2 million), it’s exciting to see so many of America’s heroes becoming homeowners.

“VA has now backed more than 25 million home loans since the program’s inception (1944) and this record is indicative of the level of support we provide veterans in helping them attain the American Dream”

    -        Robert Wilkie, Secretary of the U.S Department of Veterans Affairs

VA Loans Are NOT an Afterthought

Coming off this historic year, there’s one thing we can all agree on. VA loans deserve a place within your pipeline (or at least, they should). Once making up a measly 2% of the overall loan volume — VA loans now take up 10% of the marketplace. No longer seen as the “inferior” mortgage type. The black sheep. The runt of the litter. VA loans gained tremendous traction and have quickly become every brokers’ favorite lead type.

It looks like you just found your new target audience...

Younger Veterans are Driving Demand

Speaking of a target audience, here’s a fun stat. Gen Z & Millennials made up 50% of all VA home loans during the 2020 spike. Even with the rise of home prices, our young veterans are better positioned to buy a home than their civilian counterparts. Most haven’t racked up student debt — thanks to the G.I Bill, scholarship, and other tuition assistance programs.

They’re poised to take the market by storm. Our young military members understand they don’t need to spend years saving for a down payment. They don’t need to build up immaculate credit. They can jump into the housing market far sooner than their civilian counterparts.

Fairway Partners are Winning!

 As a Fairway Wholesale Lending partner, you will receive access to all our VA products — and more. Our partners continue to outwork the competition with insight and kindness. With a library of educational resources and products, our brokers aim to stay ahead of the competition! It’s the FAIRway!

 

Not a Partner Yet?

Get the access you need — start serving your community today!

 

Become a Partner


  • Published By: Jordan Morales
  • Date Published: October 29, 2021

Copyright© 2021 Fairway Independent Mortgage Corporation. NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. Not intended for consumers. B2B distribution to general public is prohibited. All rights reserved.