VA Reaches 20 Million Loans
Last week, the Department of Veterans Affairs celebrated their 20 millionth loan under the loan guaranty program. 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.
The recipient of the 20 millionth loan was Elizabeth Carpenter and her son Joey. Elizabeth's husband, Captain Matthew Carpenter was a West Point Graduate and a veteran of the Iraq war. He 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.
NAR President Moe Veissi was on hand to welcome this family to their new home and to congratulate the VA on this auspicious occasion. NAR is working in partnership with the VA to promote the VA home loan guaranty, and assure REALTORS® are familiar with this program and the benefits it provides veterans and their families.
For more, check out NAR President Moe Veissi's blog post VA Home Loan Program Reaches 20 Million Loans.