A growing share of U.S. homebuyers are using Department of Veterans Affairs (VA) loans as the housing market leans in favor of buyers.

Nationwide, 7.3% of mortgaged homebuyers used a VA loan in August, up from 6.5% a year earlier — the highest level for that month since 2019, according to a report from Redfin.

VA loans are available to active-duty military members and veterans, allowing qualified buyers to purchase homes with no down payment, no monthly mortgage insurance and flexible credit standards.

“Military members have made sacrifices to protect our home,” said Bill Banfield, chief business officer at Rocket. “VA details ⇒

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