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Increased VA Home Loan Guarantees for Veterans and Penalties for False Statements.

This act increases the maximum home loan guaranty amounts for veterans, potentially making it easier for them to purchase homes. It also introduces civil penalties for knowingly making false certifications during the loan application process, aiming to enhance integrity. These changes are designed to support veterans in accessing housing while protecting the system from abuse.
Key points
Increased maximum home loan guaranty amounts for veterans, potentially making it easier to secure home financing.
Introduction of a civil penalty up to $23,607 for knowingly making false certifications in the loan guaranty process.
Extension of the effective date for certain loan fees until April 7, 2030.
New rules for joint home loans involving two or more veterans, including married couples.
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Expired
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Additional Information
Print number: 118_HR_7388
Sponsor: Rep. Porter, Katie [D-CA-47]
Process start date: 2024-02-15
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

VA Home Loan GRACE Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7388.

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 2024-02-15.

What are the main provisions?

Key points include:

  • Increased maximum home loan guaranty amounts for veterans, potentially making it easier to secure home financing.
  • Introduction of a civil penalty up to $23,607 for knowingly making false certifications in the loan guaranty process.
  • Extension of the effective date for certain loan fees until April 7, 2030.
  • New rules for joint home loans involving two or more veterans, including married couples.
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. Porter, Katie [D-CA-47].

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 2025-12-25.

CATEGORIES

Benefits Real Estate