Millennial Military Veterans Fuel Demand for VA Loans
Millennials—people between the ages of 25 and 40—are a force in the overall housing market, but may be even more so among veterans. Millennials accounted for 50% of all Veterans Affairs–backed purchase loans in 2020, according to data from Veterans United.
VA loans require no down payment. As home prices rise, that frees up buyers to save enough to cover 1% to 5% in closing costs.
Also, millennial vets may be purchasing in higher-priced areas as they take advantage of historically low interest rates.