Since its establishment in 1944, the VA home loan guarantee program has helped millions of veterans purchase and maintain homes. NAR believes this program is a vital homeownership tool that provides veterans with a centralized, affordable, and accessible method of purchasing homes as a benefit for their service to our nation.
Small tweaks are needed to make this program accessible to all eligible veteran borrowers. In 2012, VA reached the milestone of insuring its 20 millionth loan. NAR President Moe Veissi took part in the ceremony honoring this achievement.
NAR continues to work with VA to provide more flexibility in their policies. Currently, VA limits the fees which a veteran can pay. While this is designed to protect veteran purchasers, it places them at a disadvantage in multiple bid situations or when buying REOs. NAR is working to ensure veterans are not paying unnecessary fees, while ensuring they are able to purchase the home they wish.