Bills · HR 3384
IN COMMITTEE· 119TH CONGRESS
House BillHR 3384Interest, dividends, interest ratesUser charges and fees
Refinancing Relief for Veterans Act
INTRO MAY 14· LAST ACTION JUN 23
READING
1MIN
COSPONSORS
0
READER REACTIONS0 TOTAL
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- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it directly impacts the financial burden veterans face when trying to save money on their home mortgages. For many veterans, lowering their interest rate through refinancing can lead to significant savings over the life of the loan, making homeownership more affordable. The varying fee schedule means that veterans will need to be aware of the specific dates to understand the cost implications of refinancing.
If this bill becomes law, the cost of refinancing for veterans will not be static; it will fluctuate based on the effective dates. This could encourage veterans to refinance during periods of lower fees, potentially saving them money upfront, or it could make refinancing more expensive during periods of higher fees, impacting their ability to reduce their monthly payments. If it doesn't become law, the current funding fee structure for these VA refinancing loans would remain unchanged.
KEY PROVISIONS
4AI-extractedPROVISION 01
Sets a 0.50% funding fee for VA interest rate reduction refinancing loans closed between August 1, 2025, and December 31, 2025.
This establishes the initial fee for a short period when the new schedule takes effect.
PROVISION 02
Lowers the funding fee to 0.25% for VA interest rate reduction refinancing loans closed between December 31, 2025, and December 31, 2027.
This provision temporarily reduces the cost for veterans to refinance their VA loans, potentially making it more affordable for a two-year period.
PROVISION 03
Increases the funding fee to 0.75% for VA interest rate reduction refinancing loans closed between December 31, 2032, and December 31, 2035.
This provision significantly raises the cost for veterans to refinance their VA loans during this three-year period.
PROVISION 04
Sets the funding fee at 0.50% for VA interest rate reduction refinancing loans closed on or after December 31, 2035.
This provision establishes the long-term, ongoing fee percentage after the temporary changes have run their course.
SPONSORSHIP
1 + 0
R· Wisconsin
YRS IN OFFICE
3
BILLS LED
30
ACTION TIMELINE
4 EVENTSJUN 23
Referred to the Subcommittee on Economic Opportunity.
JUN 11
Hearings Held by the Subcommittee on Economic Opportunity Prior to Referral.
MAY 14
Introduced in House
MAY 14
Referred to the House Committee on Veterans' Affairs.
BILL INFO
TypeHouse Bill
NumberHR 3384
Congress119th
StatusIn Committee
IntroducedMay 14, 2025
Last actionJun 23, 2025
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IN COMMITTEE· 119TH CONGRESS · VETERANS' AFFAIRS COMMITTEE · INTRODUCED MAY 14, 2025
House BillHR 3384Interest, dividends, interest ratesUser charges and fees
Refinancing Relief for Veterans Act
INTRODUCED MAY 14, 2025· LAST ACTION JUN 23, 2025
PASSAGE CHANCES
—%
READING
1 min
COSPONSORS
0
COMPLEXITY
Moderate
