PlainBillCongress, translated.Legislation. Context. Public interest.For Further Action See S.1124.
Congressional Research Service
Version 00 · Introduced in House · May 11, 1995
Authorizes the Secretary of Veterans Affairs to make periodic assistance payments on behalf of an eligible veteran for the purpose of buying down the interest rate charged on a housing loan that is guaranteed by the Department of Veterans Affairs. Outlines veteran eligibility requirements. Limits to three years the interest rate buy-down period. Requires the Secretary to: (1) promulgate underwriting standards for loans for which the interest rate assistance payments may be made; and (2) provide comprehensive prepurchase counseling to eligible veterans explaining the features of the interest rate buy-downs. Authorizes appropriations. Directs the Secretary of Defense to reimburse the Secretary for amounts paid to veteran mortgagees for such buy-down assistance. Authorizes the Secretary of Defense to indemnify a lender who makes a loan which is subject to the interest rate buy-down provisions. Authorizes the Secretaries to enter into an agreement to carry out this Act. Authorizes appropriations.
People & committees
Rep. Montgomery, G. V. (Sonny) [D-MS-3] · D–MS
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
For Further Action See S.1124.
Referred to the Subcommittee on Education, Training, Employment and Housing.
Referred to the Subcommittee on Military Installations and Facilities.
Executive Comment Requested from DOD.
Executive Comment Requested from Veterans' Affairs.
Referred to the Committee on Veterans' Affairs, and in addition to the Committee on National Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Veterans' Affairs, and in addition to the Committee on National Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Veterans' Affairs, and in addition to the Committee on National Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sponsor introductory remarks on measure. (CR E1007)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Jun 6, 2025. Consult Congress.gov for the current record.
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