**FOR IMMEDIATE RELEASE**
**WASHINGTON, D.C. —** A significant percentage of eligible veterans are failing to utilize the Department of Veterans Affairs Home Loan Program, according to new data released by the VA. The program, which offers zero-down-payment mortgages and competitive interest rates, remains critically underutilized despite its potential to increase homeownership among service members and their families.
**WHO:** The U.S. Department of Veterans Affairs (VA) and the millions of eligible veterans, active-duty service members, and surviving spouses who have not applied for the benefit.
**WHAT:** The release of a comprehensive report revealing that fewer than one in three eligible veterans have taken advantage of the VA Home Loan benefit in the past decade. The program, established in 1944, allows for no down payment, no private mortgage insurance requirement, and limited closing costs.
**WHEN:** The data was compiled and released on [Current Date – e.g., October 26, 2023], covering usage statistics from 2013 to 2023.
**WHERE:** Analysis was conducted nationwide, with significant underutilization noted in all 50 states and U.S. territories. The highest gaps in usage were recorded in rural states and areas with large veteran populations, such as California and Texas.
**WHY:** The VA attributes the underutilization to a combination of misinformation, lack of awareness, and persistent stigma regarding the complexity of the application process. Common misconceptions include the belief that the program is only for first-time homebuyers or that it requires a perfect credit score. Additionally, a shortage of VA-certified real estate agents in certain markets has been identified as a key barrier.
**HOW:** Eligible individuals are encouraged to visit the official VA website, benefits.va.gov, or contact a VA regional loan center to obtain a Certificate of Eligibility. The VA has launched a new multimedia awareness campaign to educate veterans on the program's benefits and simplified application steps.
**FOR FURTHER INFORMATION:**