Laurenz Busch Chronicle Staff Writer
Jan 16, 2025
Sen. Tim Sheehy introduced his first bill Thursday, seeking to raise awareness of the Department of Veteran Affairs’ home loan program while encouraging greater participation.
The bipartisan legislation is co-sponsored with Sen. Chris Van Hollen (D-Md.) and aligns with Sheehy’s campaign intentions to support veterans. Only 13% of veterans use the loan program.
“I’m proud to join Sen. Van Hollen and my other colleagues in introducing this commonsense measure to empower our veterans with the knowledge and resources necessary to secure a VA home loan and achieve the same dream they fought to defend,” Sheehy said in an email to the Chronicle.
The bill intends to raise awareness by adding disclosures on loan applications regarding a candidate’s eligibility and directing veterans to consult their lenders about how to access VA home loans.
Part of the reason why Sheehy and Van Hollen believe this bill is necessary is because the VA loan program remains widely underutilized.
Veterans United said 33% of veterans report not even knowing about it. Surviving spouses may also access the loan program, but a release from Sheehy and Van Hollen said just 46% know they’re eligible.
In 1944, the VA loan program began and has since provided veterans with more than 28 million loans, according to a study from Veterans United.
A previous version of the VA Home Loan Awareness Act was introduced in 202, by Sen. Mike Braun (R-Ind.), passing in the Senate but stalling in the House of Representatives. Fourteen other co-sponsors signed onto the new version of the act, introduced by Sheehy and Van Hollen, including Sen. Jacky Rosen (D-Nev.), Sen. Bernie Sanders (I-Vt.) and Sen. Ted Cruz (R-Texas).
The bill intends to raise awareness by adding disclosures on loan applications regarding a candidate’s eligibility and directing veterans to consult their lenders about how to access VA home loans.
Part of the reason why Sheehy and Van Hollen believe this bill is necessary is because the VA loan program remains widely underutilized.
Veterans United said 33% of veterans report not even knowing about it. Surviving spouses may also access the loan program, but a release from Sheehy and Van Hollen said just 46% know they’re eligible.
In 1944, the VA loan program began and has since provided veterans with more than 28 million loans, according to a study from Veterans United.
A previous version of the VA Home Loan Awareness Act was introduced in 202, by Sen. Mike Braun (R-Ind.), passing in the Senate but stalling in the House of Representatives. Fourteen other co-sponsors signed onto the new version of the act, introduced by Sheehy and Van Hollen, including Sen. Jacky Rosen (D-Nev.), Sen. Bernie Sanders (I-Vt.) and Sen. Ted Cruz (R-Texas).