With the stroke of a pen, President Franklin D. Roosevelt positively changed the lives of World War II Veterans and the millions who would follow for generations to come by offering them access to a college education, unemployment insurance and housing support when they returned home.
The historic signing of the Servicemen’s Readjustment Act of 1944 changed the face of the American landscape as thousands of Veterans took advantage of the VA Home Loan program. Using this new benefit, they bought, built and adapted homes across the nation, creating the suburban communities we see today. By 1955, those first recipients had constructed 20 percent of all new homes that were constructed after the war and were granted more than $30 billion in loans to do so.
Over the next eight decades, VA’s Home Loan program would help Veterans to secure more than 28 million home loans (as of June 2023). Elements of the VA Home Loan program have changed to better serve Veterans, their families and their survivors. The cornerstone benefits include low interest rates, no insurance payments and no down payment, giving those who sacrifice on behalf of all Americans the ability to buy, build or adapt homes.
Among other enhancements to the program, VA partnered with Congress to add the Native American Direct Loan (NADL) program and the Specially Adapted Housing (SAH) program. NADL offers Native American Veterans—those who have historically served our nation in large numbers—with low interest loans to buy or build homes on federal trust lands. The SAH program enables Veterans who have certain service-connected disabilities with grants to buy, build or adapt homes to meet their needs.
Throughout the years, each improvement has been a result of concentrated effort to help Veterans achieve home ownership and improve their lives, on behalf of a grateful nation. As VA reflects upon the years since the passage of this remarkable legislation, America can take pride in the millions of Veterans who have been able to buy, build or adapt homes across the nation.
The G.I. Bill created lasting prosperity for America and for many Veterans, families and their survivors.
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I’m a new homeowner tomorrow my fellow Veterans, my first home. At 66 yrs old and really putting in the work over the 45+ years I’ve used VHA . I have a attitude of gratitude and I hope all will go well. It’s a beautiful home my wife and I are looking to grow old in.
I sure would like to make a bathroom remodel happen and some patio concrete also. I’ll be looking into SAH grant info. I’m a happy Sailor.
My first home was purchased with a VA loan in 2017. But things have changed drastically. Due to the home appreciation we have seen (along with detrimental interest rates) the VA home loan is not practical anymore. That is my opinion. Instead of sending BILLIONS overseas let’s make a contribution to each qualified VA home loan applicant. Make America Great Again, for real! The VA home loan program must be revised to make the veteran competitive again.