Senate passes bill to inform veterans of VA Home Loan Program

The U.S. Senate passed legislation to help inform veteran homebuyers of their eligibility for the VA Home Loan Program.

The VA Home Loan Awareness Act of 2023 (S.3068) seeks to promote the VA Home Loan Program, which helps veterans finance their home purchases with features like no down payment, no private mortgage insurance, and lower interest rates than FHA loans.

Despite these benefits, only 13 percent of veterans ever utilize their VA Home Loan benefit.

“This is an important step toward making the dream of homeownership a reality for more military families and veterans. Ohioans who have served our country should have every opportunity to get the VA home loans they’ve earned,” U.S. Sen. Sherrod Brown (D-OH), one of the bill’s sponsors, said. “The House should quickly approve this bill so it can be signed into law.”

U.S. Sen. Mike Braun (R-IN) also sponsored the bill.

“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’m glad that the Senate has passed this bill to inform Hoosier veterans of the benefits they that have earned and deserve,” Braun said.

Brown and Braun introduced the VA Home Loan Awareness Act last October.

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