On October 26, 2012 the 20 Millionth VA Home Loan was purchased by the spouse of an Iraq War Veteran who passed away in 2010.
The Department of Veterans Affairs (VA) home loan program first got its start as part of the GI Bill of Rights in June of 1944. The GI Bill, officially named the Servicemen’s Readjustment Act, was established to provide benefits for those returning home after serving in World War II.
Besides the government backed, low interest home loans, the bill also served to provide veterans with college scholarships. The legislation was of such immense influence it is credited with helping to establish the American middle class.
Source: VA Website , Time Magazine
