A big federal housing law, the 21st Century ROAD to Housing Act, took effect on July 11, and veterans groups are now walking through what's in it. Disabled American Veterans (DAV) published a helpful breakdown this week, and a couple of pieces stood out to me for the military families I work with around Cannon AFB, Clovis, and Portales.

VA loan benefits have to be explained up front

According to DAV, two parts of the law, the VA Home Loan Awareness Act and the Veterans Affairs Loan Informed Disclosure (VALID) Act, require standard loan application forms and FHA mortgage disclosures to give clear information about VA home loan benefits. They also call for side-by-side comparisons of loan options, so a veteran can see which financing fits best.

That's a good change. I still meet eligible veterans and service members who went FHA or conventional on their last purchase simply because nobody asked whether they had VA eligibility. Sometimes another loan type really is the better fit, but you should get to make that call with the facts in front of you. The details of how lenders roll out the new disclosures will depend on implementation, so I'll keep an eye on it and share updates.

Disability compensation and HUD-VASH

The law also permanently excludes VA disability compensation from the income calculation used to decide eligibility for HUD-VASH, the HUD and VA supportive housing program for veterans who need help with stable housing. DAV notes that VA pension benefits won't be counted for that test either. This one is about rental housing assistance rather than mortgages, but if you know a veteran who's struggling to find a stable place to live, it's worth passing along.

A pilot for home repairs and accessibility

Another section creates a five-year Whole-Home Repairs pilot program offering grants and forgivable loans to homeowners and eligible landlords for health, safety, and accessibility improvements, like ramps, wider doorways, and modified bathrooms. The rules for who qualifies and how to apply will come as the program is set up, so check with your local housing agency before counting on it.

One VA benefit disabled veterans shouldn't miss

While we're talking about disability compensation, here's something I check on every VA file. The VA funding fee is a one-time fee on most VA loans, but you don't have to pay it if you receive VA compensation for a service-connected disability, if you're eligible for that compensation but receive retirement or active-duty pay instead, or if you're a surviving spouse receiving Dependency and Indemnity Compensation. Active-duty service members with a proposed or memorandum rating before closing, or who provide evidence of a Purple Heart on or before closing, are exempt too.

And if you paid the fee and were later awarded disability compensation with an effective date before your loan closed, the VA says you may be eligible for a refund. Your VA regional loan center can help you check.

What this means for Cannon AFB families

  • Ask about your VA eligibility early. Even if you've used it before, you may have entitlement left.
  • Bring your disability rating paperwork. It can change what you owe at closing.
  • Compare options side by side. I'm always glad to lay VA, FHA, and conventional next to each other so you can choose with confidence.

If you're stationed at Cannon or getting ready for a PCS to eastern New Mexico, reach out and we'll talk through how your VA benefit works for you. As a military spouse myself, I know how much easier a move gets when the money side is clear. Loans are subject to credit approval, and program rules can change, so I always confirm the latest VA guidelines before we move forward.