In the News
Bipartisan bill mandating disclosure of vets benefits during FHA mortgage process rolled out
Washington,
June 4, 2025
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U.S. Senators Chris Van Hollen (D-Md.) and John Boozman (R-Ark.), joined by Reps Brittany Pettersen, Harriet Hageman, Nikema Williams, and Young Kim, introduced the Veterans Affairs Loan Informed Disclosure Act of 2025 (VALID Act). Despite potentially offering thousands of dollars in savings over the life of a loan, VA loans are underused – with only 10% to 15% of eligible veterans using the benefit, and some states as low as 6%. The bill introduced recently provides a simple fix, ensuring veterans see VA loan options clearly laid out alongside conventional and FHA loans when applying for an FHA mortgage – making it easier to choose the best option for their needs. This bipartisan legislation would update Federal Housing Administration (FHA) mortgage disclosures to include VA Home Loans alongside FHA and conventional loan options. The bill would also ensure lenders are provided with important information regarding applicant’s military service so they can provide information about VA loans early in the homebuying process. “While we can never fully repay the debt we owe to our veterans, we have a duty to support them when they return home,” said Van Hollen. “The VA Home Loan has been helping servicemembers buy homes for over 80 years, but this funding resource remains severely underutilized by far too many of our veterans. This bipartisan legislation will help change that, ensuring more veterans and their families take advantage of the benefits they have earned.” |