Mortgage loans guaranteed by the Department of Veterans Affairs (VA) continue to have the lowest rate for serious delinquency and foreclosures in the industry.

There are approximately 1.3 million active home loans that have been obtained using VA’s Home Loan Guaranty Program, which makes home ownership more affordable for veterans, active-duty service members and eligible surviving spouses by permitting low or no downpayment loans and by protecting lenders from loss if the borrower fails to repay the loan, according to a statement.

"The continued high performance of VA loans is due to the dedication of VA’s loan professionals, the support of our partners in the mortgage industry and most notably, the responsibility of our veterans and their desire to maintain home ownership," said Secretary of Veterans Affairs Eric K. Shinseki. "VA is making good on its promise to help veterans achieve the American dream of owning a home."

VA’s foreclosure rate for the last eight quarters and serious delinquency rate for the last five consecutive quarters have been the lowest of all measured loan types, even prime loans, according to the Mortgage Bankers Association National Delinquency Survey.

VA’s loan specialists can intervene on a veteran’s behalf to help pursue home retention options such as repayment plans, forbearances and loan modifications. If home retention is not an option, VA can help arrange a sale or a deed-in-lieu of foreclosure, a statement said.

VA has guaranteed more than 18.8 million home loans worth $1.06 trillion since 1944, when home loan guaranties were first offered under the original GI Bill.