Bills · S 1932
IN COMMITTEE· 119TH CONGRESS
Senate BillS 1932Housing and Community Development
VALID Act of 2025
INTRO JUN 3· LAST ACTION JUN 3
READING
2MIN
COSPONSORS
10BIPARTISAN
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it aims to ensure that service members and veterans are fully aware of their earned home loan benefits, which can be very valuable. VA loans often come with advantages such as no down payment, no private mortgage insurance, and competitive interest rates, potentially saving eligible individuals significant money over the life of their mortgage. Currently, some veterans might not realize they qualify or understand the benefits of a VA loan, and might default to other loan types without full comparison.
If this bill becomes law, more veterans might utilize their VA loan benefits because they will receive comparative information upfront and be prompted by a direct question on the loan application. This could make homeownership more accessible and affordable for those who have served. If it doesn't pass, the current system continues, and some veterans may continue to miss out on these financial benefits simply due to lack of awareness.
KEY PROVISIONS
4AI-extractedPROVISION 01
Requires lenders providing Federal Housing Administration (FHA) loan information to prospective borrowers to also include comparative information about Department of Veterans Affairs (VA) home loans, assuming prevailing interest rates.
Helps prospective FHA borrowers, especially veterans, make more informed decisions by allowing them to compare two major government-backed loan programs side-by-side.
PROVISION 02
Adds a military service question to the Uniform Residential Loan Application (URLA), which is the standard form used for most home loan applications, and requires it to be placed above the signature line.
Aims to proactively identify potential VA loan eligible borrowers early in the application process, ensuring they are offered information about their earned benefits.
PROVISION 03
Clarifies that lenders are not required to determine a borrower's eligibility for any loan included in the disclosure, only to provide the comparative information.
Limits the administrative burden on FHA lenders by not requiring them to pre-qualify borrowers for VA loans, while still promoting disclosure.
PROVISION 04
Directs the Director of the Federal Housing Finance Agency (FHFA) to issue rules within six months of enactment to implement the military service question requirement on the URLA.
Ensures timely and consistent implementation of the new military service question across the mortgage industry.
SPONSORSHIP
1 + 10
D· Maryland
YRS IN OFFICE
23
BILLS LED
74
COSPONSOR BREAKDOWNBIPARTISAN · 100%
DEM 5 REP 5 IND 0
ACTION TIMELINE
2 EVENTSJUN 3
Introduced in Senate
JUN 3
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
BILL INFO
TypeSenate Bill
NumberS 1932
Congress119th
StatusIn Committee
IntroducedJun 3, 2025
Last actionJun 3, 2025
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IN COMMITTEE· 119TH CONGRESS · BANKING, HOUSING, AND URBAN AFFAIRS COMMITTEE · INTRODUCED JUN 3, 2025
Senate BillS 1932Housing and Community Development
VALID Act of 2025
INTRODUCED JUN 3, 2025· LAST ACTION JUN 3, 2025
PASSAGE CHANCES
—%
READING
2 min
COSPONSORS
10
COMPLEXITY
Moderate
