Houston-based mortgage lender New Era Lending has launched a new educational initiative aimed at helping veterans better understand their home financing options, including benefits available through the U.S. Department of Veterans Affairs' VA home loan program.
The company announced its New Era Hero Care Promise on Thursday, positioning the program as an educational resource for current and former service members who may be unfamiliar with key aspects of VA lending.
The launch comes amid ongoing concerns that many eligible veterans are not taking advantage of one of the nation's most valuable homeownership benefits. According to data from the U.S. Department of Veterans Affairs cited by the company, approximately 36% of eligible veterans had used their VA home loan benefit as of 2022, leaving a significant portion of the veteran population who may not fully understand the program or how it applies to their circumstances.
Texas is home to one of the country's largest veteran populations, including hundreds of thousands of veterans living throughout the Greater Houston area. Industry participants have long pointed to misconceptions surrounding VA loan eligibility, entitlement restoration, refinancing options, and down payment requirements as barriers to greater utilization of the program.
Through the New Era Hero Care Promise, veterans can schedule complimentary educational consultations to discuss homeownership goals, review available mortgage products, and learn more about potential eligibility for VA and other mortgage financing options.
"Many veterans are familiar with the existence of VA home loans, but fewer understand how the program may apply to their individual circumstances," said Omar Said, chief executive officer of New Era Lending. "Questions surrounding eligibility, entitlement usage, refinancing opportunities, and other program features can often create uncertainty. We developed this initiative to provide veterans with access to information that may help them make more informed home financing decisions."
The effort reflects a broader industry focus on improving awareness of VA lending. Recent research has highlighted persistent knowledge gaps among eligible borrowers, even as VA loans continue to offer benefits such as competitive interest rates, no down payment requirements for qualified borrowers, and no private mortgage insurance.
Mortgage professionals have increasingly emphasized borrower education as a way to expand access to homeownership among veterans. Industry studies have also found that some veterans remain unaware that VA loan benefits can be reused under certain circumstances, while others mistakenly believe they must make a down payment to qualify.
According to the Department of Veterans Affairs, VA-backed loans have helped millions of veterans and service members achieve homeownership since the program was established in 1944.
"Veterans have earned access to a unique set of home financing benefits through their service," Said added. "Our objective is to help ensure they have access to accurate information and understand the resources that may be available to them."
The consultations are available through New Era Lending's Veteran Resource Center and are offered on a no-obligation basis.
