Department Of Veterans Affairs Lowers Interest Rate For VA Native American Direct Loan Program

A new initiative is making housing more affordable for some Native Americans through the VA Home Loan Program.

Through the program, Native American veterans looking to buy or make improvements to their homes can receive new benefits.

The Department of Veterans Affairs lowered the interest rate for the VA Native American Direct Loan program from 6% to 2.5%.

Veterans who have a home financed at 3.5% or higher can get it refinanced at a lower rate.

Grover Wind who serves as Secretary of Veterans Affairs for the Muscogee Nation says this will open the door for more Native Americans to work toward owning a home.

Wind says a drawback to the program is the home has to be on federal trust land and says most of Muscogee Nation is considered restricted land. He says despite those challenges, this initiative is crucial for veterans.

“It's something that within the tribe we're working real hard to be able to work hard to offer more employment for our citizens. Homelessness it's a big problem with our veterans across the board and citizens so it's an area this would greatly enhance us,” Wind said.

Wind added that the tribe is working with other agencies like HUD to help put struggling veterans in housing.

The tribe is also looking at making changes to its land ownership.

“What can we do to be able to build homes and put them in our trust areas so that are citizens or are veterans can buy them. It's an area now that's a priority to be able to find land and be able to build houses for our veterans,” Wind said.

The refinanced rate for homes is only expected to be available for about two years through the VA.

Wind shares Muscogee Nation is also pushing for better healthcare to help veterans in need with drug or alcohol abuse.