WASHINGTON – November 16, 2016 – (RealEstateRama) — Congressman Marc Veasey introduced H.R. 6320, the Give Veterans Home Loan Choices Act, to ensure our nation’s veterans are provided all the loan options available to them so that they can make a well-informed decision when selecting a home loan for their families.
Military homebuyers have access to one of the most unique and powerful loan programs ever created. However, most of them are unaware of the benefits of a Veterans Affairs Loan Program because lenders are not obligated to provide cost comparisons under the Informed Consumer Choice disclosure. The Give Veterans Home Loan Choices Act would guarantee veteran borrowers are provided with a written comparison between the Veterans Affairs Loan Program, Federal Housing Administration (FHA) Loan, and conventional loan options.
“Our nation’s service members make huge sacrifices for this country and we must continue to honor them not only on Veteran’s Day but throughout the year,” said Congressman Marc Veasey. “That is why I introduced legislation to show our unwavering commitment to our veterans, service members, and their families to ensure that they have the resources they need when becoming a homeowner.”
The Give Veterans Home Loan Choices Act is currently endorsed by several organizations, including the Veterans Association of Real Estate Professionals (VAREP), Association of the United States Army (AUSA), Association of the United States Navy (AUSN), and the National Military Family Association (NMFA).
Congressman Veasey proudly represents the DFW Metroplex, which contains roughly 18,000 veterans. As a member of the House Armed Services Committee, Congressman Veasey continues to work on behalf of veterans in the district by hosting Veteran Town Halls and recognizing their service on and off the battlefield through the 33rd Congressional District Congressional Veterans Commendation (CVC) program.