VA-Home Loan Guaranty Program: An Overview
Publication Date: February 2002
Publisher: Library of Congress. Congressional Research Service
Author(s):
Research Area: Military and defense; Social conditions
Type:
Abstract:
The Department of Veterans Affairs (VA) has been providing home loan guarantees since 1944. Under this program, an eligible veteran may purchase a home through a private lender and the VA guarantees to pay the lender a portion of the losses if the veteran defaults on the loan. From the program's inception in 1944 through September 30, 2001, VA has guaranteed the purchase or refinancing of more than 16.6 million homes for veterans. This report discusses the features of the VA home loan guaranty program. The report will be updated as suggested by changes in law or regulation.
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