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Bill would cap veteran home and farm loan interest at prime plus 1% and add $40 million for ODVA loans
Summary
SB 676 would cap interest on specified veteran loan assumptions and home or farm acquisition loans at the prime rate plus 1% and would appropriate $40 million to the Oregon Department of Veterans' Affairs for the 2025–27 biennium.
Senate Bill 676 was the final item at the Jan. 28 session. Committee staff summarized the measure: “SB 676 limits the interest rate to no more than the prime rate plus 1% for specified prior loans assumed by veterans and for both fixed and variable interest rate home or farm acquisition loans to veteran applicants. The measure appropriates $40,000,000 to the…
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