
Alabama Senate Passes Bill for Disabled Vets Home Loans
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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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Birmingham News Today | 2 Min News | The Daily News Now! — Alabama Senate Passes Bill for Disabled Vets Home Loans. Machine-transcribed; use the interactive transcript above to jump the player to any line.
Local headlines in two minutes or less, you're tuned in to Birmingham News today. The Alabama Senate just gave final approval to a bill that makes it easier for fully disabled veterans to get home loans. It lets veterans with 100% permanent disabilities exclude their property tax exemptions from debt to income calculations on mortgage. Applications. This change builds on existing law, where these veterans already get a full break on out of a law and property taxes for their homes. Now, they can apply for that exemption right when a home is under contract, instead of waiting until after closing. Lawmakers like sponsor Kenneth Pascal from Pelham say this honors the sacrifices of disabled vets without costing the state any money. It smooths the path to home ownership for those who've served our country. Pascal thinks Senate sponsor Keith Kelly from Aniston and Jennifer Fiddler from Silverhill who raised the issue after hearing from a constituent. Their teamwork pushed the measure forward quickly. The bill now heads to Governor Kay Ivey's desk for her signature.
If she approves it, qualifying veterans could see real hell buying their first home soon. Dean is sponsored by our partner. Layback. Press play. Let the pillow do the rest. Sound meets comfort. S-O-L-I-SoliPillow.com.
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