VA loan rates to rise again as VA consolidates loans

The VA is about to begin consolidation and rolling out loan rates for its loan programs, the Department of Veterans Affairs said Wednesday.

The VA’s Department of Health and Human Services said it expects to begin consolidating the loan programs of the Veterans Health Administration, the Veterans Administration Medical Care Services, the National Institutes of Health, the Medical Research Service, the Federal Employees Health Benefits Program and other entities.

The VA will start consolidating all loan programs on Sept. 1.

The goal is to reduce costs for taxpayers, said spokeswoman Debra Wurfel.

The process is expected to take about four months, she said.

The consolidation program will not be announced until later this year, Wurfer said.

The first consolidation will begin in September, and the VA said it will consolidate its Loan Programs and Services Loan Programs by March 1, 2018.

The department said the program will consolidate by 2019 and eliminate duplicative loan programs.

The savings will be passed on to taxpayers, Wurtfel said.

VA Loan Programs is a small program that covers the medical care costs for the veterans.

The department said it has more than 8,500 members and about 3,500 people participating.