H.R. 2419: Affordable Housing for Homeless Veterans Act of 2021

117th Congress

To amend title 38, United States Code, to expand and extend Department of Veterans Affairs assistance for homeless veterans, and for other purposes.

Sponsor: Rep. Tracey Mann — R — KS

Authorizes the VA to sell or lease certain properties at a discount to public entities or nonprofit organizations for use as temporary shelter or permanent housing for homeless veterans and their families. That authority would expire at the end of 2025. The Department of Veterans Affairs (VA) provides guarantees to lenders for eligible borrowers to obtain better loan terms—such as lower interest rates or smaller down payments—when purchasing, constructing, or refinancing a home. VA typically pays lenders up to 25 percent of the outstanding mortgage balance if a borrower defaults on a guaranteed loan. Military personnel and veterans who have served at least 90 days on active duty or six years in the Selected Reserve are eligible for those loan guarantees. If a borrower defaults and the lender forecloses on the property, VA may purchase the property from the lender and resell it rather than pay the guaranteed portion of the loan if the department estimates that action will reduce the subsidy cost of the loan guarantee.

View the full vote history of this bill on GovTrack.us.