May 20th , 2013 8:50 am Leave a comment

Loan program for soldiers extended

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CLARKSVILLE, Tenn. — A program to help soldiers get loans to purchase homes has gotten a permanent extension.

The Leaf-Chronicle reports officials gathered recently at Fort Campbell to announce that the Tennessee Homeownership for the Brave program will be permanently extended.

The sprawling Army post on the Kentucky-Tennessee border has a multitude of military families.

The program helps soldiers and veterans get loans at reduced rates. It has been a pilot program for two years, but the Tennessee Housing Development Agency says it has decided to keep the initiative.

“This is just one more way in which the burden can be eased a little bit and to know that this is available to our active-duty military, our national guard, and our veterans. I think this is just such a worthy program and making it permanent will have a tremendous impact,” said U.S. Rep. Marsha Blackburn, who attended the announcement along with state Sen. Mark Green, state Rep. Curtis Johnson, Montgomery County Mayor Carolyn Bowers and Ralph Perrey, executive director of the Tennessee Housing Development Agency.

The program offers home loan rates at a half-percent below THDA’s regular rates.

“We liked the way that the pilot worked and we found that as more soldiers returned home from deployment more were taking advantage. so we made the program permanent,” Perrey said. “It means that you can get a half point lower interest rate on any of our products.”

Green, a veteran, said the Homeownership for the Brave program offers important support for military families.

“This is a family thing, this isn’t just a soldier thing, when you lower the cost of living for them that benefits the whole family,” Green said. “And service to the nation is really a family adventure. Even the spouse that stays at home serves the nation’s national security, so anytime we can do stuff for the whole family it’s pretty special.”

Perrey said officials chose to make the announcement in Clarksville for an obvious reason.

“You’ve got a lot of military families here and it’s also a community that’s always been welcoming of military families,” Perrey said.

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