So if it was at 7.5%, the VA would buy the loan from a lending institution, lower the interest rate to 2.5%, and They spend an average of $360,000 per home [under the VASP program]. They did this up to the tune of $17 billion. The amount of money the average veteran was in arrears was $25,000. So it was a $25,000 problem that was solved with a $360,000 solution. (00:48–01:01)
CLAIM
Asserts that the VA spent an average of $360,000 per home under the VASP program.
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