In the Blue Water Navy Vietnam Veterans Act passed by Congress last year, benefits to Navy veterans exposed to Agent Orange during the Vietnam War were provided. In the small print of the deal, it was written that the funding for these benefits would come from raising the fees on mortgages backed by the Veteran’s Administration. This fee hike in last year’s bill temporarily raised the VA mortgage funding fee from 2.15% to 2.3% for first-time buyers and from 3.3% to 3.6% for repeat buyers through January 1st, 2021. Since most veterans roll their fee into their loans, they are paying off their now higher fees with interest over the course of their loans. For now the attempt to have active-duty military and veterans pay for the benefits for other current or former members of the armed forces has been derailed thanks to an amendment by Kansas Senator Jerry Moran. His bill to provide funds to adapt housing for disabled vets was approved by Congress recently. Time will tell the final effects the Blue Water Navy Vietnam Veterans Act and any possible amendments will have on current and former armed services housing.
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