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November 2023 » thefivestar.com 71 November 2023 J O U R N A L get the benefits they've earned," Sen. Brown said. The VA Home Loan Program serves as a tool for helping veterans and their spouses achieve the American Dream of homeownership—offering veterans perks for financing their home pur- chases, including no down payment, no private mortgage insurance (PMI), and oftentimes lower interest rates than conventional FHA loans. Despite these benefits, only 13% of veterans ever utilize their VA Home Loan benefit. "Those who have risked their lives for our freedom should be able to afford a house in the country they've sworn to protect," Sen. Braun said. "I am glad to lead this bill to inform Hoosier veterans of the benefits they that have earned and deserve." Among veterans who choose not to use the VA loan when purchasing a home, 33% of them said it was because they were not aware of the program. This rate is even higher among surviving vet- eran spouses, as 46.3% said they did not know they were eligible for a VA Home Loan at the time of their purchase. The VA Home Loan Awareness Act of 2023 would add a disclosure to the standard mortgage prequalification application (Uniform Residential Loan Application) to inform veterans that they may qualify for a VA Home Loan. Because this form was recently updated in March 2021 to include a section for military ser- vice information, this bill would only add an additional line to that section informing veterans of this critical benefit. Co-sponsoring the Act are Sens. Jacky Rosen, Ted Budd, Chris Van Hol- len, Marco Rubio, Kyrsten Sinema, Thom Tillis, Bernie Sanders, Amy Klobuchar, Sheldon Whitehouse, Mark Kelly, Ra- phael Warnock, Jack Reed, Angus King, and Peter Welch. "We work to support our veterans with housing, medical care, and more in recognition of their support of our coun- try, and we must ensure that veterans are aware of those benefits so they can make informed choices," Sen. Klobuchar said. "This bipartisan legislation will ensure home loan applications for veterans in- clude information stating that they may qualify for a VA Home Loan." HUD AWARDS $10.5M+ IN GRANTS TO EMPOWER UNDERSERVED HISPANIC COMMUNITIES T he U.S. Department of Housing and Urban Development (HUD) has announced $10.5 million in grant awards to four Hispanic Serving Institutions (HSIs) to establish research Centers of Excellence (COEs) to conduct housing and community development research. HUD made the announcement at the University of Arizona in Tucson, which is partnering with Arizona State University to launch the Arizona Research Center for Housing Equity and Sustainability (ARCHES) with support from HUD. Additional schools that have been awarded grants include Texas Tech Uni- versity, The University of Texas at Austin, and Texas A&M University. "It is fitting that we are making this announcement as we celebrate Hispanic Heritage Month," HUD Secretary Marcia L. Fudge said. "HUD is committed to working with our partners in Hispanic communities to ensure access to afford- able, fair, and safe housing and home- ownership opportunities. These grants assist Hispanic Serving Institutions in achieving this goal." An HSI is defined as an institution of higher education that is an eligible; and has an enrollment of undergraduate full- time equivalent students that is at least 25% Hispanic students at the end of the award year immediately preceding the date of application. HUD's funding empowers awardees to conduct innovative research addressing housing, economic development, and the built environment in underserved commu- nities, leveraging their unique perspectives as institutions serving these areas. "Each of these universities serves as opportunity accelerators for students and anchors for their communities," said Solomon Greene, Principal Deputy Assis- tant Secretary of HUD's Office of Policy Development and Research. "These grants will help them build their capacity to do rigorous and timely research that address- es some of the most pressing housing and "Those who have risked their lives for our freedom should be able to afford a house in the country they've sworn to protect. I am glad to lead this bill to inform Hoosier veterans of the benefits they that have earned and deserve." —Sen. Mike Braun (R-IN)