Question:

What is the VA Home Loan Guaranty program?

Answer:

The VA Home Loan Guaranty program exists within the Veterans Benefits Administration. The VA Home Loan Guaranty Service is the organization within VA charged with administering the mortgage loan program.

The VA Home Loan Guaranty Service program is dedicated to assist veterans and active duty personnel in obtaining homes. Service in the Armed Forces of the Nation is the common requirement of eligible recipients of VA guaranteed home loans.

Since the inception of the program, VA loans have been helped 18 million veterans and eligible participants to become homeowners. The VA home loan program has helped veterans obtain mortgage credit which otherwise they might not have been able to obtain.

The more liberal terms of mortgage loans made through the VA Home Loan Guaranty Service program have had direct impact on veterans but on the whole the VA mortgage loan program has led to greater liberalization of mortgage terms on the market and influenced the economy to a much greater extent than the direct impact on VA borrowers.

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Common misspellings: mortage and morgage