HOME Act of 2025

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 3720 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 3720 To amend title 38, United States Code, to make certain improvements in the guidance provided by the Department of Veterans Affairs to lenders regarding the sufficiency of veterans' residual income, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 4, 2025 Ms. King-Hinds (for herself and Mr. Van Orden) introduced the following bill; which was referred to the Committee on Veterans' Affairs _______________________________________________________________________ A BILL To amend title 38, United States Code, to make certain improvements in the guidance provided by the Department of Veterans Affairs to lenders regarding the sufficiency of veterans' residual income, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Heroes Owning and Materializing Equity Act of 2025'' or the ``HOME Act of 2025''. SEC. 2. IMPROVEMENT OF DEPARTMENT OF VETERANS AFFAIRS GUIDANCE TO LENDERS ON SUFFICIENCY OF VETERANS' RESIDUAL INCOME. Section 3710(i) of title 38, United States Code, is amended-- (1) in paragraph (3)(A)-- (A) in clause (viii), by striking ``and'' at the end; (B) by redesignating clause (ix) as clause (x); and (C) by inserting after clause (viii) the following new clause (ix): ``(ix) nonprofit financial service organizations; and''; and (2) by adding at the end the following new paragraph: ``(6) The Secretary shall coordinate with nonprofit organizations that advocate for veterans to offer financial counseling, on a voluntary basis, to veterans who are purchase homes using loans guaranteed under this chapter.''. SEC. 3. DATABASE OF ADAPTED HOUSING FOR SALE. Section 2101 of title 38, United States Code