Alabama Senate Passes Bill for Disabled Vets Home Loans
Birmingham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Alabama Senate Passes Bill to Ease Home Loans for Disabled Veterans
The Alabama Senate has approved a bill that simplifies home loan applications for fully disabled veterans. The legislation allows these veterans to exclude their property tax exemptions from debt-to-income calculations, building on existing law that grants them full property tax breaks. This change enables them to apply for the exemption when a home is under contract, rather than after closing. The bill, sponsored by Kenneth Paschal, is expected to reach Governor Kay Iveys desk soon, potentially providing significant assistance to disabled veterans in their homeownership journey.
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