Derrick Van Orden (R-WI)
VA Home Loan Affordability Act
A Republican bill with 8 Republican cosponsors · See all 8 cosponsors
Last activity — Referred to the House Committee on Veterans' Affairs.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
The VA Home Loan Affordability Act aims to align the Department of Veterans Affairs housing loan program with Federal Housing Administration requirements. The bill modifies rules regarding lender fees by prohibiting the requirement of third-party documentation. It also grants the Secretary authority to waive appraisals for certain loan refinances and adjusts the minimum interest rate for adjustable-rate mortgages. Additionally, the act expands guaranteed loans for condominiums and sets new limits on closing costs and seller fees. Finally, it requires a review of property suitability regulations and a plan to modernize information technology for housing loans.
Yes· 3 of 6
- Scored +6
Would veterans be better off under this, taking everything together?
The bill provides significant financial relief and administrative ease for veterans seeking housing loans.
- Scored +6
Does this increase the pay, pensions or support veterans receive?
The bill enhances veteran housing benefits by streamlining fee verification, allowing appraisal-free refinancing, and expanding condo loan availability.
- Scored +5
Does this make housing cost less?
The bill increases housing affordability for veterans by lowering interest rate caps for adjustable rate mortgages and limiting closing costs and seller fees.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Reduced Documentation Burdens: Under Section 2(a), the Secretary may no longer require third-party documentation for fees paid by a veteran borrower to a lender.
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Easier Refinancing: Section 2(b)(1) allows the Secretary to authorize the refinancing of certain loans without requiring an appraisal.
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Lower Interest Rates for Adjustable Mortgages: Section 2(b)(2) changes the minimum interest rate for an adjustable-rate mortgage from 200 basis points to 75 basis points.
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Expanded Condominium Options: Section 2(c) expands guaranteed loans for condominiums by striking the requirement that the development or project be approved by the Secretary under specific regulated criteria.
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Capped Costs: Section 2(d) establishes that closing costs paid by a veteran cannot exceed 1.5 percent of the loan amount, and seller fees cannot exceed six percent of the outstanding loan balance.
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Updated Debt-to-Income Standards: Section 2(e) ensures that debt-to-income ratios are reviewed and prescribed at least once every two years.
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Simplified Appraiser Requirements: Section 2(f) changes the requirement for appraisers from a certification of a specific number of years to a certificate or license issued by a State.
Potential Negative Impacts for People
- No specific negative impacts are explicitly stated within the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would veterans be better off under this, taking everything together? — The bill provides significant financial relief and administrative ease for veterans seeking housing loans. Would households on low incomes be better off under this? — The limits on closing costs and seller fees provide financial relief to lower-income veteran borrowers.
- National Security And Foreign Policy
- Does this increase the pay, pensions or support veterans receive? — The bill enhances veteran housing benefits by streamlining fee verification, allowing appraisal-free refinancing, and expanding condo loan availability.
- Social Issues And Justice
- Does this make housing cost less? — The bill increases housing affordability for veterans by lowering interest rate caps for adjustable rate mortgages and limiting closing costs and seller fees.
- Economy And Finance
- Is this likely to grow the economy? — The bill's provisions for easier refinancing and expanded condo loan options may increase consumer spending and mobility.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The requirement for a modernization plan for IT administration increases oversight of how housing loans are managed.
- 8/27/2026
- 1 Cosponsor added.
- 8/3/2026
- 1 Cosponsor added.
- 6/30/2026
- 1 Cosponsor added.
- 6/9/2026
- 1 Cosponsor added.
- 4/27/2026
- Referred to the House Committee on Veterans' Affairs.
- 4 Cosponsors added.
- Introduced in House
Mike BostRepublican · Illinois
Tom BarrettRepublican · Michigan
Juan CiscomaniRepublican · Arizona
James GallagherRepublican · California
John JamesRepublican · Michigan
Thomas KeanRepublican · New Jersey
Jennifer KiggansRepublican · Virginia
John McGuireRepublican · Virginia