Homes for Heroes Act
- Bill Number
- H.R. 2791
- Origin Chamber
- House
- Congress
- 119th Congress, Session 1
- Policy Area
- Armed Forces and National Security
- Status
- Introduced
- Latest Action
- 2025-09-18: Placed on the Union Calendar, Calendar No. 257.
- Last Updated
- 2026-02-04T05:06:20Z
AI-Generated Summary
Summary of H.R. 2791 (Homes for Heroes Act)
Purpose
This legislation aims to expand access to home loans for certain veterans by raising the maximum amount guaranteed by the Department of Veterans Affairs (VA) and adjusting associated fees for specific refinancing loans.
Key Provisions
- Short Title: The bill is named the "Homes for Heroes Act."
- Guaranty Increase: It raises the maximum housing loan guaranty entitlement from 25 percent to 37.5 percent of the Freddie Mac conforming loan limit for eligible veterans.
- Fee Adjustments: It modifies the VA loan fee table for interest rate reduction refinancing loans (IRRRLs), setting tiered fees based on loan closing dates:
- 0.50 percent for loans closed from August 1, 2025, to December 31, 2025.
- 0.25 percent for loans closed from December 31, 2025, to December 31, 2027.
- 0.50 percent for loans closed from December 31, 2027, to October 1, 2031.
- 0.75 percent for loans closed from October 1, 2031, to December 31, 2035.
- 0.50 percent for loans closed on or after December 31, 2035.
- These changes apply to loans guaranteed, insured, or made by the VA Secretary.
Significant Changes to Existing Law
- Amends section 3703(a)(1)(C) of title 38, United States Code, by updating the guaranty percentage calculation.
- Revises the loan fee structure in section 3729(b)(2) of title 38, United States Code, replacing the prior row for interest rate reduction refinancing loans with the new tiered schedule.
Potential Impacts
- On Government Agencies: The VA may face higher guaranty liabilities due to larger loan amounts but could offset costs through the adjusted refinancing fees.
- On Citizens: Eligible veterans could qualify for larger home loans, potentially improving access to housing; however, refinancing veterans may encounter varying fees depending on timing.
- On International Relations: No direct effects identified.
Main Stakeholders Affected
- Veterans seeking VA-guaranteed home loans or refinancing.
- The Department of Veterans Affairs, which administers the guaranty and fee programs.
- Mortgage lenders and borrowers involved in VA-backed loans.
- The broader housing market, through potential changes in veteran homeownership rates.
Notable Legal, Constitutional, or Political Implications
- The bill operates within existing VA authority under title 38 without altering constitutional frameworks or introducing new legal precedents.
- It maintains a focus on veteran benefits while incorporating fee adjustments that may balance program costs over time.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Recent Actions
- 2025-09-18: Placed on the Union Calendar, Calendar No. 257.
- 2025-09-18: Reported (Amended) by the Committee on Veterans' Affairs. H. Rept. 119-303.
- 2025-09-18: Reported (Amended) by the Committee on Veterans' Affairs. H. Rept. 119-303.
- 2025-07-23: Ordered to be Reported (Amended) by Voice Vote.
- 2025-07-23: Committee Consideration and Mark-up Session Held
- 2025-07-03: Subcommittee on Economic Opportunity Discharged
- 2025-06-11: Subcommittee Hearings Held
- 2025-05-08: Referred to the Subcommittee on Economic Opportunity.
- 2025-04-09: Referred to the House Committee on Veterans' Affairs.
- 2025-04-09: Introduced in House
- 2025-04-09: Introduced in House
Bill Versions
- To amend title 38, United States Code, to increase the maximum amount of housing loan guaranty entitlement available to certain veterans under the laws administered by the Secretary of Veterans Affairs. — issued 2025-04-09 — PDF (2 pages)
- Homes for Heroes Act — issued 2025-09-18 — PDF (4 pages)