VA Homeownership – Gov. Affairs Update

Communications, Government Affairs, Members, Uncategorized

VA Homeownership – Gov. Affairs Update

Blue Water Navy Vietnam Veterans Act.

The President recently signed H.R. 299, the “Blue Water Navy Vietnam Veterans Act.” This legislation includes language which will eliminate the cap on the VA home loan guarantee. Veterans, under this legislation, will be able to purchase any home they qualify for using the VA home loan (with zero down payment).

As introduced, the legislation would slightly increase some of the guarantee fees for all veterans using the VA loan program, in order to pay for the healthcare component. NAR opposed this language, and in conjunction with other groups, was able to mitigate the impact of these increases. NAR will continue to work with the VA on implementing the loan limit provision and assuring all veterans have access to the home loan benefit.

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