One of the biggest benefits veterans like you and I have is our VA Home Loan. It allows us to get a home with no down payment under very favorable conditions.
A bipartisan group of Senators have introduced the VA Home Loan Awareness Act, and its legislation worth supporting.
The bill would in part..
– Add a disclosure informing Veterans they may be eligible for a VA Home Loan on the uniform residential loan application or URLA.
– Direct applicants to talk to their lenders about the VA Home Loan Program
– And instruct the government accountability office to conduct a review and report to congress about lenders adopting these URLA form updates.
That last one is important.
Because a lot of our veterans actually don’t know about their eligibility for a home loan.
And on top of that, the real estate industry doesn’t like VA home loans at the moment.
Our housing market is being ravaged by private investors who are buying all of our inventory for cash, and then turning those homes into rental properties.
There is no reason for real estate pros to go through the trouble of VA home loan when Johnny Hedgefund is going to buy the house for cash and often way over asking.
When and if we get a hold of this market, we’re going to need to use those benefits. And our veterans need every resource possible to be made aware that they exist.
Especially in my former hometown of Orlando, where we had the Florida Hometown Heroes home buying program and real estate pros didn’t want to touch it because it was too much trouble. They would verbally recoil when I mentioned it.
This is good bipartisan policy and lawmakers in Washington should support it and get it passed.
Many of the veterans I write about on this blog don’t have a voice on the issues that concern them. Its my hope to make some noise for them. If you’d like to support this publication, you can below.