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Changes to VA Home Loan Guaranty Program

New rules update how the Department of Veterans Affairs calculates home loan guaranties, potentially affecting the amount veterans can borrow for a home. The act also adds penalties for false information on loan applications and extends the current VA loan fee period.
Key points
The method for calculating the VA home loan guaranty amount has been updated, potentially impacting the loan amount available to veterans.
A civil penalty of up to $23,607 is introduced for knowingly making false statements on a VA loan certification.
Current VA loan fees will remain in effect until April 7, 2027, extending the previous expiration date of 2023.
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Expired
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Additional Information
Print number: 117_HR_6124
Sponsor: Rep. Brown, Anthony G. [D-MD-4]
Process start date: 2021-12-02
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Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

VA Home Loan GRACE Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6124.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-12-02.

What are the main provisions?

Key points include:

  • The method for calculating the VA home loan guaranty amount has been updated, potentially impacting the loan amount available to veterans.
  • A civil penalty of up to $23,607 is introduced for knowingly making false statements on a VA loan certification.
  • Current VA loan fees will remain in effect until April 7, 2027, extending the previous expiration date of 2023.
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 Rep. Brown, Anthony G. [D-MD-4].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Economic Opportunity.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Benefits Real Estate