Loading chat...
US HB1803
Bill
Status
Introduced
3/3/2025
Primary Sponsor
Grace Meng
Click for details
AI Summary
- Removes the 5-year expiration date on VA loan guarantees for purchasing residential cooperative housing units, making the program permanent
- Requires the VA Secretary to establish regulations for cooperative housing loans covering underwriting, loan processing, project standards, share eligibility, and valuation—consistent with Fannie Mae requirements where suitable
- Adds a 3.25% fee on top of standard VA loan fees for cooperative housing loans
- Classifies cooperative housing corporation stock or membership as residential property for purposes of VA loan provisions
- Directs the VA Secretary to advertise the availability of cooperative housing loan guarantees to veterans, lenders, and realtors, and allows implementation guidance to be issued before formal regulations are finalized
Legislative Description
Fair Access to Co-ops for Veterans Act of 2025
Armed forces and national security
Last Action
Forwarded by Subcommittee to Full Committee by Voice Vote.
2/24/2026
Committee Referrals
Subcommittee on Economic Opportunity3/10/2025
Veterans' Affairs3/3/2025
Full Bill Text
No bill text available