October 19, 2023

Brown, Braun Introduce Bipartisan Bill to Support Veteran Homebuyers

WASHINGTON, D.C. – Today, U.S. Senator Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, and Senator Mike Braun (R-IN), introduced new legislation to help inform veteran homebuyers of their eligibility for the VA Home Loan Program, which helps more veterans achieve the dream of homeownership.

“By letting veterans and servicemembers know they may be eligible for a VA home loan, we can help make the dream of homeownership a reality for more military families and make sure that the Ohioans who have served our country get the benefits they’ve earned,” said Sen. Brown.

“Those who have risked their lives for our freedom should be able to afford a house in the country they’ve sworn to protect. I am glad to lead this bill to inform Hoosier veterans of the benefits they that have earned and deserve,” said Sen. Braun.

Senators Jacky Rosen (D-NV), Ted Budd (R-NC), Chris Van Hollen (D-MD), Marco Rubio (R-FL), Kyrsten Sinema (I-AZ), Thom Tillis (R-NC), Bernie Sanders (I-VT), Amy Klobuchar (D-MN), Sheldon Whitehouse (D-RI), Mark Kelly (D-AZ), Raphael Warnock (D-GA), Jack Reed (D-RI), Angus King (I-ME) and Peter Welch (D-VT) cosponsored the legislation.

The VA Home Loan Program is the primary tool for helping veterans and their spouses achieve the American dream of owning a home. It offers veterans unique perks for financing their home purchases, including no down payment, no private mortgage insurance, and oftentimes lower interest rates than FHA loans. Despite these benefits, only 13% of veterans ever utilize their VA Home Loan benefit.

Full text of the VA Home Loan Awareness Act can be found HERE and a one-pager can be found HERE.