Last month the bank announced plans to allow borrowers to buy homes with as little as 3% down, but now it says different. Meanwhile, some specialized nonbank companies step in to fill the void.
The wholesale lender, which focuses on underserved home buyers with subpar credit, will enter a housing market that has shown steady improvement during the last year.
On Tuesday, MPA ran a story headlined, "VA housing boom: Are you in?" This story was inadvertently credited to Rachel Norvell. The actual author of the story was Kenneth Harney of the Washington Post Writers Group. We regret the error.
The VA’s new home financing program has more than doubled since 2007, as there have been major campaigns in the housing market this year directed at veterans.
Our "Lenders Wanted” section connects originators with lenders who can fund tough-to-finance loans
Collecting or paying interest is prohibited in some religions, making it difficult for those groups to buy homes. Learn how originators are using centuries-old concepts to help provide them financing.