VA's home purchasing finance program at record levels

Veterans are the new preferred customers of many banks' mortgage marketing efforts.

The Los Angeles Times reports that big banks and mortgage companies have stepped up their efforts to help returning veterans. The Department of Veteran Affair’s VA home-loan program is housing’s hot product, hitting record levels amounting to a roughly 7 percent share of total home-purchase activity. The program comes with zero down payments, flexible and generous credit underwriting, and competitive interest rates.

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