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Veteran Homebuying Program Makes Few Loans

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Since the California Veteran Farm and Home Purchase Program was created after World War I, it has helped more than 400,000 veterans become homeowners. But last year the program granted just 83 loans, despite more than $1.1 billion in available funding. Interest rates are higher than commercial loans -- and critics call it an anachronism, duplicating efforts of the federal government and the private sector.

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