Congress urges VA Department to improve loan competitiveness for veterans

According to the National Association of Realtors, the median home sale price is up 15% YOY from February 2021, marking 120 consecutive months of YOY increases – the longest-running streak on record.

The rise in cash and conventional loans with waived contingencies has also left veterans unable to compete with other buyers. In fact, 11% of VA borrowers end up changing loan products during house searches compared to the 1% of conventional buyers who do so.

“If you serve this country, the federal government ought to have your back. That means that every veteran should receive the benefits that they have earned and deserve – including when it comes to housing,” Kilmer said. “I believe that every veteran should have a home, and it shouldn’t be under a freeway overpass. We’ve got to make progress to ensure that every veteran has a fair shot.”

To gain a better understanding of the issue, Kilmer and Reschentaler are seeking answers to the following questions: