The latest Mortgage Bankers Association’s chart of the week shows that the Veterans Administration’s share of all purchase loan applications has steadily increased since March this year.
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(Source: Mortgage Bankers Association)
Beginning in March, the VA’s share of purchase applications increased from 10% to around 12%, maintaining that share on average ever since.
Additionally, average loan size for VA purchase home loan applications for 2015 was $247,000 compared to an average of $232,000 in 2014.
To put this in perspective, the average originated VA purchase loan size in 2014 was $238,000 using Home Mortgage Disclosure Act data.
