Sen. Tim Sheehy’s bipartisan VA Home Loan Awareness Act has officially become law as part of the 21st Century ROAD to Housing Act, which took effect July 11 after President Trump declined to sign the broader housing package, allowing it to become law automatically under the Constitution’s 10-day rule.
The legislation, the first bill Sheehy introduced as a U.S. senator, will require lenders to add a disclosure to the Uniform Residential Loan Application informing veterans they may be eligible for a VA Home Loan and directing them to ask their lender for more information. It also instructs the Government Accountability Office to review and report to Congress on how lenders adopt the updated disclosure.
“Our veterans earned these benefits through their service and sacrifice, and they deserve every opportunity to use them,” Sheehy said. “By making sure more veterans know about the VA Home Loan program, this new law will help more military families achieve the dream of homeownership. I’m proud to see this bill become law through bipartisan cooperation, delivering a real win for those who served our nation.”
The VA Home Loan program offers veterans no down payment, no private mortgage insurance and interest rates often lower than conventional FHA loans. Despite those benefits, only about 13% of eligible veterans use the program. Among those who don’t, one-third say they were unaware it existed.
The bill was co-led by Sen. Chris Van Hollen (D-Md.) and passed the Senate unanimously in March. The 21st Century ROAD to Housing Act, which the nonpartisan Bipartisan Policy Center has called the most significant housing legislation since 1990, passed the House 390-9 before being sent to the president. Trump declined to sign it on June 24, calling it of “minor importance,” and the bill became law automatically on July 11.