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Congressional Research Service
Version 00 · Introduced in House · Mar 3, 2025
Fair Access to Co-ops for Veterans Act of 2025
This bill revives and makes permanent the authority of the Department of Veterans Affairs (VA) home loan guarantee program to guarantee loans for a veteran’s purchase of stock or membership in a cooperative housing corporation (i.e., co-op) for the purpose of entitling the veteran to occupy a single family residential unit.
For purposes of the administration of such loans, the bill
establishes a fee rate of the usual fee plus 3.25% of the total amount of the loan,
treats such cooperative housing units as residential property for purposes of imposing restrictions and liabilities, and
guarantees up to 25% of the amount of the loan for loans exceeding $144,000.
Additionally, the bill requires the VA to advertise the availability of loan guarantees for cooperative housing unit loans, including by issuing guidance and notifying eligible veterans.
People & committees
Rep. Meng, Grace [D-NY-6] · D–NY
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Forwarded by Subcommittee to Full Committee by Voice Vote.
Subcommittee Consideration and Mark-up Session Held
Subcommittee Hearings Held
Referred to the Subcommittee on Economic Opportunity.
Referred to the House Committee on Veterans' Affairs.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We also preserved the text version used in the PlainBill explanation below.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Mar 11, 2026. Consult Congress.gov for the current record.
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PlainBill explanation
Based on the full Introduced in House · 2025-03-03 text. This explanation has not received human editorial review. This overview describes the proposal’s major provisions; it does not establish what its real-world effects would be.
The proposed Fair Access to Co-ops for Veterans Act of 2025 would remove a five-year restriction on Department of Veterans Affairs loan guarantees for cooperative housing purchases. These purchases involve shares or membership that give a person the right to occupy a home. The bill would require lending standards, add a fee beyond the existing fee-table amount, and require outreach to eligible veterans, lenders, and real estate agents. Loan guarantees would remain conditional on regulations.
This Act may be cited as the Fair Access to Co-ops for Veterans Act of 2025.
in subsection (a)(12), by striking With respect to a loan guaranteed after the date of the enactment of this paragraph and before the date that is five years after that date, to and inserting To
stock or membership in a cooperative housing corporation (as defined in section 216(b) of the Internal Revenue Code of 1986) for the purpose of entitling a person to occupy for dwelling purposes a single family residential unit
A loan may not be guaranteed under subsection (a)(12) before the date on which the Secretary prescribes regulations setting forth requirements for underwriting, loan processing, project standards, share eligibility, valuation, and other criteria the Secretary determines necessary.
(A) the amount determined from the loan fee table under paragraph (2), plus (B) 3.25 percent of the total amount of the loan guaranteed, insured, or made
to notify eligible veterans, participating lenders, and interested realtors of the availability of such loan guarantees and the procedures and requirements that apply to the obtaining of such guarantees.
Section 2(a) would delete the language limiting these guarantees to loans guaranteed after the existing paragraph's enactment and before its fifth anniversary. The replacement language contains no new expiration date.
Section 3710 of title 38, United States Code, is amended— (1) in subsection (a)(12), by striking With respect to a loan guaranteed after the date of the enactment of this paragraph and before the date that is five years after that date, to and inserting To
The bill would prohibit guarantees under section 3710(a)(12) until the Secretary issues regulations covering borrower and loan risk assessment, loan processing, housing project standards, eligible shares, valuation, and other necessary criteria. The standards would have to align with the Federal National Mortgage Association's requirements for buying cooperative housing loans or packaging them into securities, to the extent the Secretary considers suitable. This provision sets no calendar deadline for those regulations.
(h) A loan may not be guaranteed under subsection (a)(12) before the date on which the Secretary prescribes regulations setting forth requirements for underwriting, loan processing, project standards, share eligibility, valuation, and other criteria the Secretary determines necessary. The Secretary shall ensure that such regulations are consistent, to the extent the Secretary determines suitable, with the requirements of the Federal National Mortgage Association for the purchase or securitization of cooperative housing loans.
For a loan guaranteed under section 3710(a)(12), the bill would set the fee at the existing loan fee-table amount plus 3.25 percent of the total loan amount. If someone takes over an existing loan, the additional percentage would instead apply to the unpaid principal balance when the property transfers.
(5) In the case of an loan guaranteed under section 3710(a)(12) of this title, the amount of the fee shall be— (A) the amount determined from the loan fee table under paragraph (2), plus (B) 3.25 percent of the total amount of the loan guaranteed, insured, or made, or, in the case of a loan assumption, the unpaid principal balance of the loan on the date of the transfer of the property.
Section 2(c), titled “Amount of loan,” would add a reference to paragraph (12) in section 3703(a)(1)(A)(i)(IV). The supplied text does not reproduce that provision, so it does not establish the resulting dollar limit or calculation.
(c) Amount of loan Section 3703(a)(1)(A)(i)(IV) of such title is amended by striking or (8) and inserting (8), or (12).
For purposes of section 3704(c) and section 3714, the bill would treat qualifying cooperative stock or membership as residential property. The interest must entitle a person to occupy a single-family home in a development, project, or structure owned or leased by the cooperative corporation. The corporation must meet the referenced federal tax-law definition.
(1) in section 3704(c), by adding at the end the following new paragraph: (3) For purposes of this subsection, stock or membership in a cooperative housing corporation (as defined in section 216(b) of the Internal Revenue Code of 1986) for the purpose of entitling a person to occupy for dwelling purposes a single family residential unit in a development, project, or structure owned or leased by such corporation shall be treated as residential property.
(2) in section 3714, by adding at the end the following new subsection: (i) For purposes of this section, stock or membership in a cooperative housing corporation (as defined in section 216(b) of the Internal Revenue Code of 1986) for the purpose of entitling a person to occupy for dwelling purposes a single family residential unit in a development, project, or structure owned or leased by such corporation shall be treated as residential property.
The Secretary would have to use existing advertising authority to publicize cooperative share loan guarantees. The Secretary would also have to take other appropriate steps, including guidance, to inform eligible veterans, participating lenders, and interested real estate agents about availability and application procedures and requirements.
The Secretary of Veterans Affairs shall use the authority of the Secretary under section 532 of title 38, United States Code, to advertise the availability of loan guarantees for housing cooperative share loans under section 3710(a)(12) of such title and shall take such other appropriate actions as may be necessary, including by the issuance of guidance, to notify eligible veterans, participating lenders, and interested realtors of the availability of such loan guarantees and the procedures and requirements that apply to the obtaining of such guarantees.
Section 2(f) would allow, but not require, the Secretary to issue implementation guidance before issuing new regulations, notwithstanding section 501. Separately, section 2(a) expressly conditions loan guarantees on regulations; the guidance provision does not expressly remove that condition.
(f) Guidance Notwithstanding section 501 of such title, the Secretary of Veterans Affairs may issue guidance to implement section 3710 of title 38, United States Code, as amended by subsection (a), before prescribing new regulations under such section.
A loan may not be guaranteed under subsection (a)(12) before the date on which the Secretary prescribes regulations
The supplied action snapshot, updated March 11, 2026, records introduction and referral to the House Committee on Veterans' Affairs on March 3, 2025; referral to its Economic Opportunity Subcommittee on March 10; and hearings on March 11. It records a subcommittee markup and forwarding to the full committee by voice vote on February 24, 2026. These entries document subcommittee progress, not enactment.
Source snapshot updated 2026-03-11T19:42:02Z. 2026-02-24: Forwarded by Subcommittee to Full Committee by Voice Vote. 2026-02-24: Subcommittee Consideration and Mark-up Session Held 2025-03-11: Subcommittee Hearings Held 2025-03-10: Referred to the Subcommittee on Economic Opportunity. 2025-03-03: Referred to the House Committee on Veterans' Affairs. 2025-03-03: Introduced in House
A closer look
Reviewed version: Introduced in House · 2025-03-03. These findings describe provisions and who may benefit; they are not judgments of waste, corruption, or motive.
This review covers the supplied bill text. “None identified” does not rule out provisions in later versions or accompanying reports and disclosures.
Provisions outside the bill’s main subject, or policy changes attached to appropriations.
None identified in the reviewed text
No unrelated provision or policy change attached to appropriations was identified in the complete supplied introduced text. This conclusion does not extend to other versions or accompanying materials.
Spending directed to particular recipients or places outside ordinary competitive or formula-based allocation.
None identified in the reviewed text
No congressionally directed spending for a particular recipient or place was identified in the complete supplied introduced text. This conclusion does not establish the absence of earmarks in other versions or accompanying materials.
Narrow exceptions, exemptions, or preferential treatment that warrant a closer look.
None identified in the reviewed text
No materially narrow preference beyond the main program's intended coverage was identified in the complete supplied introduced text. Ordinary access for intended beneficiaries does not alone qualify as a targeted benefit. This conclusion is limited to this text version.
Full text preserved for this analysis. Legislative record snapshot: Mar 11, 2026. How PlainBill uses AI