WASHINGTON,, DC (March 28, 2025) |
Today, the Defense Credit Union Council (DCUC) commends Congresswoman Monica De La Cruz (TX-15) for her leadership in reintroducing the VA Home Loan Awareness Act.
The legislation will incorporate an impactful disclosure on the Uniform Residential Loan Application (URLA) to direct applicants to consult their lender for more information about the VA Home Loan Program, which has benefits that can include zero down payments, no mortgage insurance, and often lower interest rates compared to conventional FHA loans.
The legislation was introduced alongside Rep. Al Green (D-TX). Original co-sponsors of the legislation include: Rep. August Pfluger (R-TX), Rep. Mike Lawler (R-NY), Rep. Lance Gooden (R-TX), Rep. Brian Fitzpatrick (R-PA), Rep. Dan Crenshaw (R-TX), Rep. Brittany Pettersen (D-CO), Rep. Joyce Beatty (D-OH), Rep. Josh Gottheimer (D-NJ), Rep. Josh Harder (D-CA), Rep. Deborah Ross (D-NC).
"We are forever grateful to our Veterans and their families for their sacrifices to our nation. Though we can never fully repay them, we can ensure they can access the benefits they deserve. Only a fraction of veterans are utilizing the significant advantages offered by the VA Home Loan Program. My bipartisan legislation ensures that our nation's heroes can access the benefits they earned, achieve homeownership, and live the American dream they fought to protect." - Congresswoman Monica De La Cruz
The legislation has garnered robust support from the Veterans Association of Real Estate Professionals (VAREP) and the Defense Credit Union Council (DCUC).
“Too many veterans are unaware of the VA home loan benefit they’ve earned. This legislation adds visibility at the loan application stage. While using the benefit is their choice, awareness empowers them to ask the right questions and make informed decisions—ultimately increasing usage among those who qualify.” - Son Nguyen, President of the Veterans Association of Real Estate Professionals (VAREP)
"We thank Congresswoman Monica De La Cruz for her leadership in reintroducing the 'VA Home Loan Awareness Act' to address the housing challenges faced by military families. The affordable housing crisis continues to place financial strain on service members and veterans, and policy solutions like this are essential to ensuring they have access to stable and affordable housing. Defense credit unions remain committed to supporting military families through innovative mortgage products and financial counseling, but legislative action is critical to expanding the overall impact we can offer to these communities. We look forward to assisting congressional leadership in their efforts to strengthen VA home loan programs and improve housing affordability for those who serve our nation." - Anthony Hernandez, DCUC President & CEO
"We are forever grateful to our Veterans and their families for their sacrifices to our nation. Though we can never fully repay them, we can ensure they can access the benefits they deserve. Only a fraction of veterans are utilizing the significant advantages offered by the VA Home Loan Program. My bipartisan legislation ensures that our nation's heroes can access the benefits they earned, achieve homeownership, and live the American dream they fought to protect." - Congresswoman Monica De La Cruz
The legislation has garnered robust support from the Veterans Association of Real Estate Professionals (VAREP) and the Defense Credit Union Council (DCUC).
“Too many veterans are unaware of the VA home loan benefit they’ve earned. This legislation adds visibility at the loan application stage. While using the benefit is their choice, awareness empowers them to ask the right questions and make informed decisions—ultimately increasing usage among those who qualify.” - Son Nguyen, President of the Veterans Association of Real Estate Professionals (VAREP)
"We thank Congresswoman Monica De La Cruz for her leadership in reintroducing the 'VA Home Loan Awareness Act' to address the housing challenges faced by military families. The affordable housing crisis continues to place financial strain on service members and veterans, and policy solutions like this are essential to ensuring they have access to stable and affordable housing. Defense credit unions remain committed to supporting military families through innovative mortgage products and financial counseling, but legislative action is critical to expanding the overall impact we can offer to these communities. We look forward to assisting congressional leadership in their efforts to strengthen VA home loan programs and improve housing affordability for those who serve our nation." - Anthony Hernandez, DCUC President & CEO
In recent letters, DCUC has urged Congressional committees for necessary reform to the current VA Home Loan program to enhance and ensure improved housing access and resources for our Nation’s military and veteran communities.
In January, DCUC celebrated the introduction of the Senate companion bill sponsored by senators Tim Sheehy’s (R-MT) and Chris Van Hollen’s (D-MD), the VA Home Loan Awareness Act of 2025. The bill quickly garnered bipartisan support from senators Ted Cruz (R-TX), Raphael Warnock (D-GA), Ted Budd (R-NC), Sheldon Whitehouse (D-RI), John Boozman (R-AR), Bernie Sanders (I-VT), Kevin Cramer (R-ND), Peter Welch (D-VT), Eric Schmitt (R-MO), John Kennedy (R-LA), Thom Tillis (R-NC), Bernie Moreno (R-OH), Jacky Rosen (D-NV), and Amy Klobuchar (D-MN).
DCUC has called on Congress to require that the Department of Housing and Urban Development (HUD), in collaboration with the Department of Veterans Affairs, address these challenges by streamlining the appraisal process and launching initiatives to educate sellers and real estate professionals about the benefits of VA loans, especially in current housing markets with high-interest rates.
DCUC has also raised concerns over the lack of affordable housing and credit access to military and veteran families, as well as mortgage regulations.
“The rising cost of housing disproportionately affects military families, particularly those stationed near high-cost urban areas. This issue is exacerbated by the limited availability of affordable housing options, especially rental properties for short-term assignments…while defense credit unions work diligently to ensure credit access, regulatory burdens often create barriers. Strict compliance requirements for mortgage lending, coupled with differing interpretations of guidelines, increase costs for credit unions and reduce loan affordability for our members,” said Jason Stverak, DCUC Chief Advocacy Officer.
See additional DCUC correspondence on this matter sent to the Senate Banking, Housing & Urban Affairs Committee last May, the House Financial Services Committee, and the Senate Veteran Affairs Committee.
For more information, please contact Jason Stverak at jstverak@dcuc.org and visit dcuc.org/advocacy.