A bill to include information regarding VA home loans in the Informed Consumer Choice Disclosure required to be provided to a prospective FHA borrower who is a veteran, to amend title 10, United States Code, to authorize the provision of a certificate of eligibility for VA home loans during the preseparation counseling for members of the Armed Forces, and for other purposes.
About This Bill
Committee
Latest Action · November 12, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Access to Affordable Housing for Veterans Act of 2019
This bill provides additional notifications to service members regarding home loans available through the Department of Veterans Affairs (VA).
The bill requires a Federal Housing Administration mortgage notice to a veteran to contain comparative rate and fee information about VA home loans.
The uniform residential loan application developed by Fannie Mae and Freddie Mac must include a check box to indicate that the applicant is a veteran, the statement "If you are a veteran, you may be eligible for a VA mortgage," and a place to acknowledge such statement.
Preseparation counseling for a service member prior to discharge from active duty must include information regarding
the authority of a member to use an honorable discharge certificate as a certificate of eligibility for a VA guaranteed housing loan or to request a specific certificate of eligibility for such loan, and counseling on responsible borrowing practices.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.