VA Loan Program Backs All-Time Record 630,000 Mortgages

The Department of Veterans Affairs backed nearly 630,000 mortgages for service members and veterans this fiscal year, an all-time record for this nearly 70-year-old home loan program. VA loans have experienced incredible growth in a time of tight lending and fragile economic recovery. Volume has increased more than 370 percent since FY07, driven in large part by low interest rates and a conventional mortgage market that's been increasingly difficult for many military borrowers to crack. Here's a...