VA Home Loan Affordability Act
Sponsored By: Representative Van Orden, Derrick [R-WI-3]
Introduced
Summary
Align VA home loan rules with FHA standards to lower costs and speed lending for veterans. The bill would change appraisal, fee, condominium, refinance, and IT rules to make VA-guaranteed mortgages more like FHA loans and easier to use.
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Bill Overview
Analyzed Economic Effects
4 provisions identified: 3 benefits, 0 costs, 1 mixed.
Lower VA loan closing costs
If enacted, veterans using VA‑guaranteed home loans would pay at most 1.5% of the loan amount in closing costs. If enacted, seller fees paid by a veteran would be capped at 6% of the outstanding loan balance. The bill would also bar the VA Secretary from requiring that a third party provide documentation of fees you paid to a lender when writing fee rules. These limits and the documentation rule would take effect upon enactment.
Easier VA refinancing and appraisals
If enacted, the VA Secretary would be able to allow some VA refinances to proceed without an appraisal. If enacted, the minimum interest floor for VA adjustable‑rate mortgages would drop from 200 basis points to 75 basis points. If enacted, appraisers doing VA work would need a State certificate or license instead of a specified minimum number of years of certification. These changes would take effect upon enactment.
More condos and property eligibility
If enacted, the bill would remove the statutory requirement that condominium developments be approved by the VA Secretary for VA‑guaranteed loans. If enacted, the VA Secretary would have 90 days after enactment to review and update property suitability regulations. These changes would expand the set of condos and other properties that can qualify for VA financing and take effect on enactment or within 90 days as specified.
Regular review of VA debt rules
If enacted, the VA would be required to review and prescribe the debt‑to‑income ratios it uses for VA housing loans not less than once every two years. This recurring review could lead the VA to loosen ratios and expand eligibility, or to tighten ratios and restrict eligibility. The requirement would take effect upon enactment.
Sponsors & CoSponsors
Sponsor
Van Orden, Derrick [R-WI-3]
WI • R
Cosponsors
Bost
IL • R
Sponsored 4/27/2026
Rep. Barrett, Tom [R-MI-7]
MI • R
Sponsored 4/27/2026
Rep. Kiggans, Jennifer A. [R-VA-2]
VA • R
Sponsored 4/27/2026
Ciscomani
AZ • R
Sponsored 4/27/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov