On October 10, 2008, the President signed S. 3023, the Veterans' Benefits Improvement Act of 2008. Following are the three major impacts to the VA Home Loan Guaranty Program:

1. Authority to guarantee adjustable rate mortgages (ARMs) and hybrid adjustable rate mortgages (HARMs) has been extended through September 30, 2012.

2. The maximum guaranty for cash-out refinance loans has been made the same as purchase loans - they are no longer limited to $36,000. In addition, cash-out refinance loans may now be made up to 100% of the appraised value of the home.

3. The temporary increase to the maximum guaranty has been extended through December 31, 2011. When combined with new locality-based Freddie Mac conforming loan limit in January 2009, VA's maximum county “loan limit” will be $1,094,625 ($1,641,937.50 in Alaska, Guam, Hawaii, and the Virgin Islands). This results in unique county "loan limits" for VA.

This notice is meant to provide general information regarding the major impacts of the recently passed legislation. Click here for further information.

• Find updates to the VA Home Loan Program, newly issued circulars, and other information.

• Information for SAR's, including NOV instructions and requirements for joining the LAPP program

• Access to The Appraisal System (TAS) and webLGY which replaces ACE and WBLS

• Information regarding Condo/Builder Approval

• Determine if your client is eligible for the VA Home Loan Program.
• Access our webLGY system through the Veterans Information Portal.
• Frequently Asked Eligibility Questions

• The lender's handbook listed by chapter

• Learn about available trainings

• Provides a summary of the Funding Fee

• Information on how to determine if a veteran is receiving a VA Benefit

• Information regarding the repair waiver process

• Links to commonly used VA forms

• Links to Circulars issued by the Department of Veterans Affairs

• Common questions asked by lenders

• Memorandums issued by the St. Paul Regional Loan Center