The Veterans Affairs Home Loans program has added nearly $4 trillion to the U.S. economy over its 80-year history, according to an independent analysis released in conjunction with the milestone anniversary.
The findings, from University of Missouri economics professor Joseph Haslag, point to a dramatic return on taxpayer investment in veterans homes since the end of World War II, when the home loan program began. The study was backed by Veterans United Home Loans, a Missouri-based lender, to mark the June 22 start date of the program.
“This historic benefit has helped millions of veterans and military families build wealth and shaped the growth of the American middle class,” Chris Birk, vice president of mortgage insight at Veterans United, said in a statement. “Today, this hard-earned benefit is more important than it has ever been.”
The home loan program is one of the most popular and best known benefits for American veterans. Individuals who qualify can receive lower interest rates, smaller closing costs and often do not need to make any down payments to finalize the loans.
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the department’s website.
Leo covers Congress, Veterans Affairs and the White House for Military Times. He has covered Washington, D.C. since 2004, focusing on military personnel and veterans policies. His work has earned numerous honors, including a 2009 Polk award, a 2010 National Headliner Award, the IAVA Leadership in Journalism award and the VFW News Media award.
Source: militarytimes.com