Fair Access to Co-ops for Veterans Act of 2024

HR 7703 modifies VA loan guarantees to allow veterans to purchase shares in residential cooperative housing units. It requires the VA to establish new regulations for co-op underwriting, valuation, and project standards before guaranteeing such loans, aligning these rules with Fannie Mae requirements. The bill adds a 3.25% fee to these cooperative housing loans in addition to standard loan fees. The VA must also advertise this program to eligible veterans, lenders, and realtors to inform them of the new options.