03/12/2026 | Press release | Distributed by Public on 03/12/2026 12:34
U.S. SENATE - Today the U.S. Senate passed Senator Sheehy's bipartisan VA Home Loan Awareness Act as part of a larger package of housing legislation, the 21st Century ROAD to Housing Act.
"As a combat veteran who is married to a combat veteran, ensuring our nation's warfighters have the information and resources they need to live out the American dream when they return home is among my top priorities. The VA Home Loan Awareness Act will ensure our veterans can take full advantage of programs designed to help them achieve home ownership, and I'm proud to see it pass the Senate in a strong, bipartisan vote," said Senator Sheehy.
Background:
The VA Home Loan Awareness Act is the first piece of legislation Senator Sheehy introduced as a senator. The bill, co-led by Senator Chris Van Hollen (D-Md.), aims to help more veterans take advantage of the VA Home Loan program by providing more information on the program and potential eligibility.
The VA Home Loan program is a key tool for helping veterans and their spouses achieve the American Dream. It offers veterans no down payment, no private mortgage insurance, and interest rates that are often lower than rates for conventional FHA loans. Despite these benefits, only 13 percent of veterans access the VA Home Loan program. Among veterans who don't use the VA Home Loan program, 33 percent say they are not aware of the program.
The VA Home Loan Awareness Act will help better inform veterans of opportunities provided by the VA Home Loan program by adding a disclosure to the Uniform Residential Loan Application (URLA) informing veterans they may be eligible for a VA Home Loan, directing applicants to consult their lender for more information about the VA Home Loan program, and instructing the Government Accountability Office (GAO) to conduct a review and report to Congress on lenders' adoption of these URLA updates.
Read more on the bill HERE.