Bill > HR2723

This bill modifies the VA home loan guaranty program by updating the maximum loan guaranty amounts and entitlement for veterans. The bill introduces a new detailed table that specifies different guaranty percentages and maximum amounts based on loan size, veteran status, and loan closure date. It distinguishes between "covered veterans" and other veterans, providing varying levels of loan guarantees. For example, for loans up to $45,000, the guaranty ranges from 50% to 25% depending on the veteran's status and loan closure date. The bill also addresses situations where multiple veterans use guaranty entitlement on a single loan, establishing specific rules for how the guaranty will be calculated. Additionally, the legislation introduces a new civil penalty of up to $23,607 for veterans who knowingly make false certifications related to loan guarantees. The loan fees table is extended to April 7, 2031, and the amendments will take effect 180 days after the act's enactment. The changes aim to provide more flexibility and clarity in the VA home loan program while maintaining protections against fraudulent claims.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/house-bill/2723/all-info