Home Affordability for Guard and Reserve Act | ChamberLight
Bills · HR 7009
IN COMMITTEE· 119TH CONGRESS
House BillHR 7009Armed Forces and National Security
Home Affordability for Guard and Reserve Act
INTRO JAN 12· LAST ACTION FEB 4
READING
4MIN
COSPONSORS
0
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8
Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-written
This bill matters because it addresses a common issue where many members of the National Guard and Reserves, despite their service and sacrifices, have been unable to access VA home loan benefits because their specific types of duty didn't meet strict "active duty" definitions. Homeownership is a significant financial goal and a key component of financial stability, and VA loans are a valuable tool for achieving it.
If this bill becomes law, a much larger segment of the military community will be able to use a benefit that provides substantial financial advantages, potentially leading to increased homeownership rates among Guard and Reserve families. This would offer a tangible recognition of their contributions. If it doesn't become law, these service members would continue to be excluded from this specific path to homeownership support.
KEY PROVISIONS
5AI-extracted
PROVISION 01
Expands the definition of "active duty" for VA home loan eligibility to include various types of service performed by members of the Reserve components and National Guard, such as specific training duties and call-ups under military laws.
Allows a broader range of military service to count towards a crucial veteran benefit, making homeownership more accessible.
PROVISION 02
Makes the expanded definition of "active duty" retroactive, applying to any service performed on or after September 11, 2001.
Ensures that a large number of Guard and Reserve members who served after 9/11 will be able to qualify based on past service.
PROVISION 03
Establishes a new eligibility pathway for individuals with at least 14 days of certain defined "active duty" service who have completed initial military training, allowing them to access VA home loans.
Provides an avenue for even more service members with shorter, specific service periods to become eligible for home loan benefits.
PROVISION 04
Requires an additional loan fee for individuals who qualify for VA home loans solely through the new 14-day service pathway.
Ensures some financial contribution from these newly eligible borrowers, potentially helping to offset program costs.
PROVISION 05
Mandates that the Secretary of Veterans Affairs notify newly eligible Reserve and National Guard members about their home loan benefits, including those subject to the additional loan fee.
Guarantees that eligible service members are made aware of their new or expanded benefits.
This bill matters because it addresses a common issue where many members of the National Guard and Reserves, despite their service and sacrifices, have been unable to access VA home loan benefits because their specific types of duty didn't meet strict "active duty" definitions. Homeownership is a significant financial goal and a key component of financial stability, and VA loans are a valuable tool for achieving it.
If this bill becomes law, a much larger segment of the military community will be able to use a benefit that provides substantial financial advantages, potentially leading to increased homeownership rates among Guard and Reserve families. This would offer a tangible recognition of their contributions. If it doesn't become law, these service members would continue to be excluded from this specific path to homeownership support.
KEY PROVISIONS
AI-extracted
high
Expands the definition of "active duty" for VA home loan eligibility to include various types of service performed by members of the Reserve components and National Guard, such as specific training duties and call-ups under military laws.
Allows a broader range of military service to count towards a crucial veteran benefit, making homeownership more accessible.
high
Makes the expanded definition of "active duty" retroactive, applying to any service performed on or after September 11, 2001.
Ensures that a large number of Guard and Reserve members who served after 9/11 will be able to qualify based on past service.
med
Establishes a new eligibility pathway for individuals with at least 14 days of certain defined "active duty" service who have completed initial military training, allowing them to access VA home loans.
Provides an avenue for even more service members with shorter, specific service periods to become eligible for home loan benefits.
med
Requires an additional loan fee for individuals who qualify for VA home loans solely through the new 14-day service pathway.
Ensures some financial contribution from these newly eligible borrowers, potentially helping to offset program costs.
med
Mandates that the Secretary of Veterans Affairs notify newly eligible Reserve and National Guard members about their home loan benefits, including those subject to the additional loan fee.
Guarantees that eligible service members are made aware of their new or expanded benefits.
Eligibility for expanded housing loans applies to service performed
after the date of enactment
Notification to eligible personnel regarding new benefits applies to those who complete entry-level and skill training
GLOSSARY
AI-written
Reserve components
The different branches of the U.S. military that are not full-time active duty, such as the Army Reserve, Air Force Reserve, Navy Reserve, Marine Corps Reserve, and Coast Guard Reserve.
National Guard
Part-time soldiers and airmen who serve both their state and the federal government, often called upon for state emergencies and federal deployments.
VA-guaranteed housing loan
A home loan offered by private lenders, where the Department of Veterans Affairs promises to cover a portion of the loan if the borrower defaults, making it easier for eligible veterans and service members to get loans with favorable terms.
Active duty
Full-time service in the military. This bill specifically expands what types of Guard and Reserve service count as 'active duty' for housing loan eligibility.
Loan fee
A one-time charge paid by borrowers to the VA for receiving a VA-guaranteed home loan, which helps offset the program's costs.
Entry level and skill training
The initial training and specialized job training that new recruits undergo when they first join the military.
Title 10, United States Code
ACTION TIMELINE
3 EVENTS
FEB 4
Referred to the Subcommittee on Economic Opportunity.
COMMITTEE
JAN 12
Introduced in House
INTROREFERRAL
JAN 12
Referred to the House Committee on Veterans' Affairs.
