Housing Win for New York City Veterans

A major victory for New York City veterans came this Friday as the Veterans Benefits, Health Care, and Information Technology Act was passed by both the House of Representatives and the Senate.

The bill, written by Rep. Carolyn Maloney (D-Manhattan, Queens) and Sen. Charles Schumer (D-NY) allows veterans to apply VA loans to co-ops, which make up the majority of housing in New York. Currently, the VA loans could only be applied to homes, townhouses, trailer homes and condos.

The VA loan program allows veterans to buy homes with no down payment and limited closing costs. The new bill is intended to make more housing choices available to veterans.

-Heather Corcoran

AP Photo/ Dima Gavrysh