Realtor.com® Report Finds VA Borrowers Are More than Twice as Likely as Conforming Borrowers to Have a Low Down Payment
Realtor.com®'s new research reveals that 74.5% of home sales with Veterans Affairs (VA) loans had a 0% down payment over the past year, with 83.5% having a down payment below 10%. VA borrowers are over twice as likely as conforming borrowers to make low down payments, easing upfront costs. Despite these benefits, only 3 in 10 veterans know about the zero down payment advantage. VA loans also offer lower mortgage rates and fees, saving first-time buyers $69 per month compared to conforming loans. Military households have higher homeownership rates, with top metros like Stockton, Des Moines, and Buffalo showing significant gaps between military and non-military homeownership rates. Realtor.com® launched the #MissionZero campaign in 2023 to raise awareness of VA loan benefits among veterans and service members.
La nuova ricerca di Realtor.com® rivela che il 74,5% delle vendite di case con mutui per Veterani (VA) ha avuto un acconto del 0% nell'ultimo anno, con l'83,5% che ha avuto un acconto sotto il 10%. I mutuatari VA hanno oltre il doppio delle probabilità rispetto ai mutuatari convenzionali di effettuare acconti bassi, riducendo i costi iniziali. Nonostante questi vantaggi, solo 3 veterani su 10 sono a conoscenza del vantaggio dell'acconto zero. I mutui VA offrono anche tassi ipotecari e commissioni più bassi, consentendo ai primi acquirenti di risparmiare $69 al mese rispetto ai mutui convenzionali. Le famiglie militari hanno tassi di possesso della casa più elevati, con metropoli come Stockton, Des Moines e Buffalo che mostrano differenze significative tra i tassi di possesso della casa militari e non militari. Realtor.com® ha lanciato la campagna #MissionZero nel 2023 per sensibilizzare i veterani e i membri del servizio sui benefici dei mutui VA.
La nueva investigación de Realtor.com® revela que el 74,5% de las ventas de casas con préstamos de Asuntos de Veteranos (VA) tuvieron un pago inicial del 0% en el último año, con un 83,5% teniendo un pago inicial por debajo del 10%. Los prestatarios de VA tienen más del doble de probabilidades que los prestatarios convencionales de hacer pagos iniciales bajos, lo que reduce los costos iniciales. A pesar de estos beneficios, solo 3 de cada 10 veteranos conocen la ventaja del pago inicial cero. Los préstamos VA también ofrecen tasas de hipoteca y tarifas más bajas, ahorrando a los compradores primerizos $69 al mes en comparación con los préstamos convencionales. Los hogares militares tienen tasas de propiedad más altas, con grandes ciudades como Stockton, Des Moines y Buffalo mostrando diferencias significativas entre las tasas de propiedad de viviendas militares y no militares. Realtor.com® lanzó la campaña #MissionZero en 2023 para aumentar la conciencia sobre los beneficios de los préstamos VA entre veteranos y miembros del servicio.
Realtor.com®의 새로운 연구에 따르면, VA(재향군인청) 대출로 주택을 판매한 경우의 74.5%가 지난해 0%의 계약금을 지불했으며, 83.5%는 10% 미만의 계약금을 지불했습니다. VA 대출자는 일반 대출자보다 낮은 계약금을 낼 가능성이 두 배 이상 높아 초기 비용을 줄이는 데 도움이 됩니다. 이러한 혜택에도 불구하고, 퇴역 군인 중 10명 중 3명만이 제로 계약금의 장점을 알고 있습니다. VA 대출은 또한 낮은 주택담보대출 금리와 수수료를 제공하여 첫 주택 구매자에게 기존 대출에 비해 월 $69를 절약할 수 있게 합니다. 군 가족의 주택 소유율은 더 높으며, Stockton, Des Moines, Buffalo와 같은 주요 도시에서는 군인과 비군인 간의 주택 소유율 차이가 상당합니다. Realtor.com®은 2023년에 VA 대출의 이점을 알리기 위해 #MissionZero 캠페인을 시작했습니다.
La nouvelle recherche de Realtor.com® révèle que 74,5 % des ventes de maisons avec des prêts de l'Assemblée des Anciens Combattants (VA) ont eu un acompte de 0 % au cours de l'année écoulée, avec 83,5 % ayant un acompte inférieur à 10 %. Les emprunteurs VA ont plus de deux fois plus de chances que les emprunteurs classiques de faire de faibles acomptes, réduisant ainsi les coûts initiaux. Malgré ces avantages, seuls 3 vétérans sur 10 sont au courant de l'avantage de l'acompte zéro. Les prêts VA offrent également des taux hypothécaires et des frais plus bas, permettant aux primo-accédants d'économiser 69 $ par mois par rapport aux prêts conformes. Les ménages militaires ont des taux de propriété de logement plus élevés, avec des grandes métropoles comme Stockton, Des Moines et Buffalo montrant des écarts significatifs entre les taux de propriété militaires et non militaires. Realtor.com® a lancé la campagne #MissionZero en 2023 pour sensibiliser les vétérans et les membres du service aux avantages des prêts VA.
Neue Forschungen von Realtor.com® zeigen, dass 74,5% der Hausverkäufe mit Krediten für Veteranen (VA) im vergangenen Jahr eine Anzahlung von 0% hatten, während 83,5% eine Anzahlung von unter 10% hatten. VA-Kreditnehmer sind mehr als doppelt so wahrscheinlich wie konventionelle Kreditnehmer, eine niedrige Anzahlung zu leisten, was die anfänglichen Kosten senkt. Trotz dieser Vorteile wissen nur 3 von 10 Veteranen über den Vorteil der 0-Anzahlung Bescheid. VA-Darlehen bieten auch niedrigere Hypothekenzinsen und Gebühren, wodurch Erstkäufer im Vergleich zu herkömmlichen Darlehen monatlich 69 $ sparen. Militärhaushalte haben höhere Wohneigentumsquoten, wobei große Städte wie Stockton, Des Moines und Buffalo erhebliche Unterschiede zwischen militärischen und nicht-militärischen Wohneigentumsquoten zeigen. Realtor.com® startete 2023 die #MissionZero-Kampagne, um das Bewusstsein für die Vorteile von VA-Darlehen unter Veteranen und Dienstmitgliedern zu schärfen.
- 74.5% of VA home sales had 0% down payment, easing upfront costs.
- Military households have higher homeownership rates, with a notable gap in top metros.
- VA loans save first-time buyers $69 per month compared to conforming loans.
- Only 3 in 10 veterans are aware of the zero down payment benefits of VA loans.
"Realtor.com® compared loan characteristics of VA and conforming borrowers to highlight the many advantages that VA loans offer enabling Veteran households and the industry professionals working with them to better grasp the impact that this has on Veteran households and homeownership," said Danielle Hale, Chief Economist, Realtor.com®. "Despite the significant advantages provided to Veterans with VA loans, according to a survey conducted by Veterans United Home Loans, only 3 in 10 veterans and active-duty service members were aware of the zero down payment benefits of VA loans. With this research, we hope to empower Veteran households with the knowledge and tools they need to make informed decisions about their homeownership goals and financial well-being."
VA Loans Aid Affordability and Boost Homeownership
The advantages of VA loans place military households in a more favorable position than non-military households in today's housing markets. Even though VA loan borrowers often take on a somewhat larger debt, due to a zero or low down payment, the combination of lower mortgage rates and lower fees mean lower monthly payments. For first-time homebuyers making a
In 2022, the average homeownership rate for military households in the top 100 metros stood at
Markets where Military Homeownership Rates Notably Exceed Non-Military Rates
Metros | Age-Adjusted | Homeownership | Homeownership | Share of Military HH | Share of Sales with VA Loans | Monthly Savings with VA Loans |
18.8 % | 80.9 % | 61.7 % | 9.8 % | 5.4 % | ||
18.4 % | 88.8 % | 68.5 % | 9.5 % | 6.4 % | ||
16.7 % | 81.9 % | 63.9 % | 10.6 % | 6.6 % | ||
16.4 % | 84.4 % | 63.9 % | 11.7 % | 6.9 % | ||
15.5 % | 78.7 % | 60.6 % | 14.8 % | 14.2 % | ||
14.9 % | 71.2 % | 53.1 % | 10.0 % | 6.6 % | ||
14.7 % | 71.5 % | 51.3 % | 5.6 % | 2.0 % | ||
14.3 % | 79.7 % | 57.9 % | 11.5 % | 9.9 % | ||
13.4 % | 71.6 % | 59.3 % | 31.5 % | 42.3 % | ||
13.4 % | 77.8 % | 61.1 % | 9.9 % | 4.4 % |
VA loans empower Veteran homeownership by allowing lower down payments and credit scores, along with lower interest rates
- An advantage of VA loans is the ability to purchase a home without a down payment. But some borrowers do put money down to reduce their loan's principal balance, and the average down payment percentage for VA loans was
4.6% – significantly less than the average19.7% down payment percent for conforming loans. - VA loans exhibit flexibility in their credit criteria and this year
23.2% of recent VA loan borrowers had Fair credit scores compared to4.5% for conforming loan borrowers. For every credit score grouping, recent VA borrowers had lower down payments as a percent of purchase price than conforming loan borrowers.
To bring attention and awareness to the benefits offered to Veterans through VA loans, Realtor.com® launched in 2023, the #MissionZero campaign which aims to provide essential information and support to those who are serving or have served our nation, helping them achieve their dreams of buying a home. The campaign aims not to end until every Veteran and service member knows the power of what they've earned.
More information can be found at realtor.com/veterans as well as in the Veterans & Military Benefit section of for-sale home listings on Realtor.com.
Real estate professionals interested in joining the mission to help all Veterans and their families achieve the dream of homeownership, can visit www.realtor.com/veterans#resources and toggle to For Agents to find shareable resources including a video, social images and copy, and articles.
Methodology:
Mortgage information including loan types, down payment, credit scores, mortgage rates and VA loan share are all sourced from Optimal Blue. For the purpose of this research, we only focus on 30-year fixed rates loans that are used to purchase primary residences between October 2023 and September 2024.
For the purpose of this research, a household is considered a military household if any member in the household is on active duty or has a veteran status. The number of military households is derived from 2022 ACS 1-Year individual data. To estimate the homeownership rates among military households, we first calculate the rates for three age groups (18–34, 35–54, and 55-plus) and then take a weighted average across these groups. To get the homeownership rate gap between military and nonmilitary households, we first calculate the homeownership rate gap for each age group (18–34, 35–54, and 55-plus) and then take a weighted average across these groups, based on their proportion among all households.
About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.
About Veterans United Home Loans
Based in
VeteransUnited.com | 1-800-884-5560 | 550 Veterans United Drive,
Media Contact
Mallory Micetich, press@realtor.com
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SOURCE Realtor.com
FAQ
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