To amend title 38, United States Code, to expand eligibility for a housing loan guaranteed by the Secretary of Veterans Affairs to certain individuals who performed active duty for training.
About This Bill
Committee
Latest Action · May 14, 2024
Read twice and referred to the Committee on Veterans' Affairs.
This bill expands Veterans Affairs home loan benefits to members of the National Guard and military Reserves who have completed at least 90 consecutive days of active duty for training. Currently, VA home loans are primarily available to veterans who served on active duty, but this legislation would extend eligibility to Guard and Reserve members who performed qualifying training duty on or after six years before the bill's enactment date. The expansion applies specifically to active duty for training periods beyond basic training, as defined in federal law. The bill affects military service members in the Guard and Reserves seeking to purchase homes and would allow them to use VA loan guarantees, which typically offer favorable terms without requiring a down payment. No specific funding amounts or implementation timelines are specified in the legislation.
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