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Veterans Home Loans: Childcare Costs Excluded from Debt-to-Income Ratio.

This Act aims to improve veterans' access to housing loans guaranteed by the Department of Veterans Affairs (VA). The core change is that childcare expenses will no longer be included in the debt-to-income (DTI) ratio calculation when assessing loan eligibility. This adjustment is intended to increase the borrowing capacity of veterans, particularly those with families, promoting fair access to home ownership and financial stability.
Key points
Childcare expenses (costs for the care of a child or minor dependent) will be prohibited from being considered in the debt-to-income (DTI) ratio for VA housing loans.
Excluding these costs will effectively increase the credit eligibility and purchasing power of veterans seeking home loans.
The changes will take effect 90 days after the date of the Act's enactment.
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Additional Information
Print number: 118_S_5301
Sponsor: Sen. Ossoff, Jon [D-GA]
Process start date: 2024-11-12
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Veterans Home Loan Fairness Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_5301.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-11-12.

What are the main provisions?

Key points include:

  • Childcare expenses (costs for the care of a child or minor dependent) will be prohibited from being considered in the debt-to-income (DTI) ratio for VA housing loans.
  • Excluding these costs will effectively increase the credit eligibility and purchasing power of veterans seeking home loans.
  • The changes will take effect 90 days after the date of the Act's enactment.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Ossoff, Jon [D-GA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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