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119-hr-3384119th CongressWALLET

Refinancing Relief for Veterans Act

Sponsored By: Representative Van Orden, Derrick [R-WI-3]

In Committee

Summary

A tiered, date-based fee schedule for VA interest rate reduction refinancing loans would replace the current fixed fee and set different upfront fees depending on when a loan closes. It creates five closing-date windows that set fees at 0.50% for loans closed Aug 1–Dec 30, 2025; 0.25% for loans closed Dec 31, 2025–Dec 30, 2027; 0.50% for Dec 31, 2027–Dec 30, 2032; 0.75% for Dec 31, 2032–Dec 30, 2035; and 0.50% for loans closed on or after Dec 31, 2035.

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  • Veterans refinancing VA-backed mortgages would face closing-date dependent upfront fees, including a lower 0.25% fee in the Dec 31, 2025 to Dec 31, 2027 window.
  • The Department of Veterans Affairs loan fee table in 38 U.S.C. 3729(b)(2) would be amended to replace the existing row for interest rate reduction refinancing loans with this new five-part schedule, applying to loans guaranteed, insured, or made by the VA.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Date-based fees for VA refinance loans

This bill would change the one-time VA loan fee for Interest Rate Reduction Refinancing Loans. The fee would depend on your closing date: 0.50% for loans closed on or after August 1, 2025 and before December 31, 2025; 0.25% for loans closed on or after December 31, 2025 and before December 31, 2027; 0.50% for loans closed on or after December 31, 2027 and before December 31, 2032; 0.75% for loans closed on or after December 31, 2032 and before December 31, 2035; 0.50% for loans closed on or after December 31, 2035. It would apply to IRRRLs guaranteed, insured, or made by VA and would replace a single-rate row. On a $300,000 loan, the fee would range from $750 (0.25%) to $2,250 (0.75%).

Sponsors & CoSponsors

Sponsor

Van Orden, Derrick [R-WI-3]

WI • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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