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VA-Home Loan Guaranty Program: An Overview (CRS Report for Congress)

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Release Date Revised Jan. 12, 2011
Report Number RS20533
Report Type Report
Authors Peterson, Meredith;Foote, B. Ellington
Source Agency Congressional Research Service
Older Revisions
  • Premium   Revised Feb. 3, 2010 (8 pages, $24.95) add
  • Premium   Revised Jan. 29, 2010 (8 pages, $24.95) add
  • Premium   Revised Oct. 30, 2008 (7 pages, $24.95) add
  • Premium   Revised March 13, 2008 (5 pages, $24.95) add
  • Premium   Revised May 9, 2003 (5 pages, $24.95) add
  • Premium   Feb. 21, 2002 (6 pages, $24.95) add
Summary:

Under the Department of Veterans Affairs' (VA) home loan guaranty 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 the end of 2007, VA has guaranteed the purchase or refinancing of more than 18.2 million homes for veterans. This report discusses the features of the VA home loan guaranty program; it will be updated as suggested by changes in law or regulation.