Democratic members of the House Veterans’ Affairs Committee (HVAC) invited NAR, along with other industry partners, Veteran Service Organizations (VSOs), and non-profits, to participate in a roundtable on the VA Loan Guaranty Program, a vital homeownership tool that provides veterans with a centralized, affordable, and accessible method of purchasing homes as a benefit for their service to our nation. The roundtable discussion focused on the health of the program; mitigation measures to prevent veteran foreclosures; how to make more veterans aware of the program; and how to ease program requirements to increase veteran homeownership.
NAR is a strong supporter of the VA Loan Guaranty Program, which has empowered millions of veterans to achieve the American dream of homeownership, with approximately 490,000 purchases and refinances facilitated in 2024 alone. However, our data shows that VA loan usage has fluctuated significantly in recent years across demographic groups and generations. Today's veterans are less competitive and losing out on home sale purchases because sellers are hesitant to sell their homes to buyers using the program due to the strict conditions of these loans, including limits on fees that can be charged to the buyer using a VA Loan, like pest inspections or certifications, and stringent home inspections. Sellers also cite concerns with lower appraisals and slower closing timelines. During the roundtable, NAR highlighted and recommended necessary programmatic changes that encourage flexibility and enhanced veteran competitiveness in the market while preserving program integrity.
NAR remains committed to advancing veteran homeownership and welcomes any opportunity to work with Congress and VA to improve the program. Veterans using VA loans deserve the same opportunities as all other homebuyers, including the right to be represented by a real estate professional of their choosing. NAR successfully advocated for programmatic changes that allow veterans to directly compensate their real estate representatives when using VA home loans. While this temporary policy change represents a significant step forward, NAR’s efforts to make this change permanent continue.
Watch the recording: “Housing More Veterans Using the VA Loan Guaranty Program.”