Tennessee U.S. Representative Andy Ogles (R-TN-05) introduced a bill this week to lower housing costs for U.S. veterans by reducing U.S. Department of Veterans Affairs (VA) home loan fees.
Ogles’ bill, the Affordable Housing For Veterans Act, would change the existing U.S. Code to eliminate the fees payable on home loans made or guaranteed by the VA.
The bill would specifically replace “November 15, 2031” everywhere it appears in the loan fee table in the U.S. Code (38 U.S.C. 3729(b)(2)) and replace it with “October 1, 2024.”
The change, according to Ogles’ office, would result in “swift loan fee reductions for veterans as high as 65 percent” for veterans, servicemembers, and surviving spouse homebuyers.
