An Enduring Program – VA Home Loan Program Reaches 20 Million Loans

NAR President Moe Veissi celebrates the VA Home Loan Program with Department of Veterans Affairs officials and Elizabeth Carpenter, shown at left, who is the recipient of the 20th million loan through the program. Elizabeth’s son, Joey, rides his tricycle in the driveway of their new home.

by Moe Veissi, 2012 NAR President

I was honored today to celebrate the 20th million loan given by the Department of Veterans Affairs home loan program.

Even more special was meeting the recipients of that loan — Elizabeth Carpenter and her son Joey.  Elizabeth’s husband, Captain Matthew Carpenter, was a West Point Graduate and a veteran of the Iraq war who died of cancer in December of 2010.  Last month, Elizabeth used her surviving spouse benefits to purchase a home in Virginia to be closer to family.  I can’t describe what a thrill it was  to welcome her and Joey to their new home.

NAR President Moe Veissi and Elizabeth Carpenter

The VA loan guaranty, which began in 1944 under the GI bill, provides veterans with a zero-downpayment loan.  VA loans have one of the lowest default rates, and provide affordable financing to our nation’s military families.

NAR is working in partnership with the Department of Veterans Affairs to promote the VA home loan guaranty, and assure REALTORS® are familiar with this program and the benefits it provides veterans and their families.  We are proud to work closely with the Department of Veterans Affairs to ensure that the VA guaranteed home loan program is not only a top priority for our nation’s policy makers, but is also widely promoted so that every veteran is aware of home ownership’s  invaluable benefits.  NAR never stops working with our elected officials to ensure that home ownership is accessible and affordable for our nation’s veterans.

We are especially proud of our work with Congress that raised VA loan limits and make permanent the VA adjustable rate mortgages.

Congratulations to the Department of Veterans Affairs for creating one of the most enduring programs – the VA home loan program – and for reaching 20 million loans.

Learn more about this terrific program in the video below.

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