Veterans Home Loan Fairness Act of 2024
S 5301, the Veterans Home Loan Fairness Act of 2024, prohibits the Department of Veterans Affairs (VA) from counting childcare costs when calculating a veteran's debt-to-income ratio for home loan eligibility. This directly affects veterans with childcare expenses, who often face higher debt-to-income ratios that can block loan approval. The bill requires VA lenders to exclude childcare costs from these calculations, ensuring such expenses no longer unfairly impact a veteran's ability to qualify for a home loan. The change applies to VA-guaranteed, insured, or made home loans under Title 38, United States Code, effective 90 days after enactment.
Bill status
in committee
1 of 4 stages cleared
Introduction
Nov 2024
Committee Review
Floor Vote
President
Introduced Nov 12, 2024
Last action Nov 12, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Nov 12, 2024
Committee
Read twice and referred to the Committee on Veterans' Affairs.
upper
Nov 12, 2024
Introduced
Introduced in Senate
upper
1 primary · 1 co-sponsor
Sponsors
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