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Tampa Bay millennials like VA loans

VA loans makes it easier to afford a home.
This Sept. 25, 2019, photo shows a sign indicating a new selling price for a house sits atop a realtor's sign in Jackson, Miss. On Tuesday, Oct. 22, the National Association of Realtors reports on sales of existing homes in September. (AP Photo/Rogelio V. Solis)
This Sept. 25, 2019, photo shows a sign indicating a new selling price for a house sits atop a realtor's sign in Jackson, Miss. On Tuesday, Oct. 22, the National Association of Realtors reports on sales of existing homes in September. (AP Photo/Rogelio V. Solis) [ ROGELIO V. SOLIS | AP ]
Published Oct. 28, 2019

Three Florida metro areas — including Tampa Bay — are among the nation’s top 10 for millennial borrowers using VA loans.

Nationwide, the number of loans backed by the Department of Veteran Affairs rose 2.3 percent year-over-year in September, led by a 14 percent jump in mortgages to vets and active-duty personnel born between 1981 and 1996. The bay area, home to MacDill Air Force Base, ranked 8th nationally while the Fort Walton Beach-Crestview-Destin area ranked 5th and Jacksonville ranked 7th, according to a report by Veterans United, one of the nation’s largest VA lenders.

VA loans allow qualified veterans and service members to buy a home with no down payment and no mortgage insurance. Between September 2018 and this September, millennial borrowers took out a total of 211,276 loans nationwide. The top metro area for VA loans was Jacksonville, N.C., the home of Fort Bragg,



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