April 18, 2024 5:17 pm
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Demand for VA loans up as other mortgages fall

VABy Catherine Reagor, The Republic | azcentral.com

New data show the number of veteran and active-duty military homebuyers is up in metro Phoenix.

Veterans Administration-backed mortgages climbed 18 percent in the Valley during March 2014 compared with March 2013. Deals using VA loans were the only type of home purchases that were up in March, according to TheWilcoxReport, a Phoenix-based site analyzing residential real estate.

VA mortgages don’t require down payments in some cases and do not require private insurance, so they are less costly for the borrowers.

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