Dive Brief:
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Homebuilders are beginning to vie for a piece of a burgeoning new market: military veterans.
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Pulte, which has a mortgage affiliate, for example, has announced it will build 20 or more mortgage-free new homes this year for wounded veterans.
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The impetus behind the courtship of vets: The Department of Veteran’s Affairs’s home-financing program has doubled the amount of loans it has approved since 2007,backing 14.5% of new homes sales.
Dive Insight:
Demand for homes is growing among the country’s 22 million veterans, many of whom can get credit through the VA home-loan program more easily than the average homeowner can through a traditional mortgage lender.