T
he US House of Representatives has unanimously passed the VA Home Loan Reform Act, H.R. 1815, which aims to make permanent a temporary policy allowing veterans to directly compensate their real estate agents. This provision was implemented by the Department of Veterans Affairs in June 2024 and will provide certainty for veterans participating in the housing market on equal footing with other home buyers.

    The bill also creates a partial claims program to assist veterans who have fallen behind on mortgage payments. Professional representation is crucial for navigating VA loan requirements, making it essential for veterans to work with real estate professionals to remain competitive in today's market.

    The National Association of REALTORS strongly supports this legislation, emphasizing the importance of real estate professionals guiding veterans through the homebuying process and ensuring that home sellers consider their offers. The VA Home Loan Guaranty is a unique government program allowing veterans to purchase homes without down payments, with over 490,000 home purchases and refinances facilitated by VA lenders in 2024.

    "This measure allows veterans and active-duty service members to have the same advantages as other buyers in a competitive real estate market," says Shannon McGahn, NAR executive vice president. "NAR remains committed to protecting those who serve our country and ensuring they are given equal opportunities to achieve homeownership."