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VA Revamps Home Loan Program for Hard-to-Finance Group

Friday, Mar 24 2023
Lending
Written by  The Mortgage Leader

The Department of Veteran Affairs has slashed interest rates for Native American veterans (or veterans who are spouses of Native Americans) who buy homes on tribal lands. So reports Military.com.

Department of Veterans AffairsThe VA said that the rate for loans offered via the VA Native American Direct Loan (NADL) program will be 2.5% for the next two years, down from 6%.

The move aims to expand affordability for Native American veterans on tribal lands. Banks typically prefer not to finance on tribal lands because they can’t seize the property if a borrower defaults.

Read the full article from Military.com. 

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