To encourage home ownership among returning service members from World War II, the U.S. government established a military loan guaranty program in 1944. Since then, the VA Loan program has helped place more than 20 million veterans and their families into an affordable home financing plan. The VA loan is guaranteed by the federal government and issued by approved lenders such as Veterans United Home Loans.
Today, our returning service members continue to rely on the VA Home loan program. However in recent years, lenders have tightened their lending requirements in the wake of the housing market collapse. Still, the VA Loan continues to be a lifeline for military homebuyers, many of whom encounter difficulty when faced with tough credit standards and down payment requirements.