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US HB3694
Bill
Status
6/3/2025
Primary Sponsor
Brittany Pettersen
Click for details
AI Summary
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Amends the FHA Informed Consumer Choice Disclosure to include information about VA home loans guaranteed under chapter 37 of title 38, allowing prospective FHA borrowers to compare costs with VA loan options at prevailing interest rates
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Requires the Uniform Residential Loan Application to include a military service question, positioned above the signature line, to help identify veterans who may qualify for VA loan benefits
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Directs the Federal Housing Finance Agency (FHFA) Director to issue implementing rules within 6 months of enactment
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Clarifies that lenders are not required to determine whether a prospective borrower is actually eligible for any loan type included in the disclosure notice
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Introduced June 3, 2025 with bipartisan cosponsors (Pettersen, Hageman, Williams of Georgia, Kim) and referred to the House Committee on Financial Services
Legislative Description
VALID Act of 2025 VA Loan Informed Disclosure Act of 2025
Housing and community development
Last Action
Referred to the House Committee on Financial Services.
6/3/2025