"Homeownership is a foundational component of long-term financial stability and it should not continue to be treated as a primary source of revenue to enable policy changes outside of the home loan program, Bill Killmer, the MBA's senior vice president of legislative and political affairs, said in the letter. MBA noted that veterans are facing one of the most challenging housing affordability environments in decades, with elevated interest rates, limited inventory and rising home prices."
"CHLA also lauded the House committee's decision to reject the initial bill, saying that its action protects military families from unnecessary fee hikes. As we stated in our letter to the Committee last month, we appreciate and support the underlying purpose of the bill, but asking military families to pay more to provide benefits to other military families is not the answer here, Scott Olson, CHLA's executive director, said in a statement."
H.R. 6047 proposes extending the VA home loan funding fee to 2036, raising the Interest Rate Reduction Refinance Loan (IRRRL) fee to 1.4%, and increasing fees for loan assumptions. The MBA warned that those changes could reduce access to affordable home financing, especially for veterans with modest incomes. The MBA emphasized homeownership as key to long-term financial stability and cautioned against using the program as a revenue source for other policies. The MBA and CHLA urged lawmakers to remove or substantially modify the proposed fee increases and expressed willingness to work with Congress.
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