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The concept of a VA home loan was more how you were going to get enough money to make ones way to a Veterans Home up until the brink of WWII.
Whatever your opinion of President Hoover, you would have to admit that he was a man who wanted to streamline the way government did business. In 1929 Herbert Hoover recommended consolidation of the units responsible for the care of veterans and create one unit to take care of the veterans. His recommendation resulted in the Veteran's Administration. President Hoover, unbeknownst to him at the time, had laid the groundwork for a new approach to the care of our returning veterans. The early accomplishments of the VA were drawn more toward the physical well being of the veterans in the form of hospitals and health care facilities. No one was thinking much about where these soldiers were going to get VA loans to buy houses for their families. It wasn't until 1944 that Congress began to see the need for better programs to help the returning soldiers who did not have life threatening injuries or total disabilities. There was a need to help these men get back into society and become contributing members of peacetime America. The result was what we call the GI Bill of Rights – the Servicemen's Readjustment Act of 1944. This act promised training to reinsert the veteran into society, and the training was on Uncle Sam's nickel. The second benefit established by the GI Bill provided the veterans with federally guaranteed VA loans to be used for homes, farms, or businesses. Another benefit of this program was that it stimulated the housing industry which provided jobs for the veterans. Who would have thought that the guaranteed veteran home loans offered through the GI Bill would help stimulate the entire economy. It just goes to show you that what is good for the soldier is good for America.
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