VA Home Loan GRACE Act of 2024
This bill amends VA home loan guaranty rules to establish new limits based on loan amount and whether veterans closed their loans before or after April 7, 2030. Covered veterans (those with loans closed before that date) get higher guaranty limits for certain loans, while those closing after April 7, 2030, face reduced limits tied to Freddie Mac's conforming loan limits. It also adds a $23,607 civil penalty for veterans making false certifications and extends a loan fee deadline from 2023 to 2030. These changes directly affect veterans applying for VA home loans under the guaranty program.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2024
Committee Review
Floor Vote
President
Introduced Feb 15, 2024
Last action Feb 29, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
2
Feb 29, 2024
Committee
Referred to the Subcommittee on Economic Opportunity.
lower
Feb 15, 2024
Committee
Referred to the House Committee on Veterans' Affairs.
lower
Feb 15, 2024
Introduced
Introduced in House
lower
1 primary · 6 co-sponsors
Sponsors
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