Homes for Heroes Act

HR 2791, the Homes for Heroes Act, increases the maximum VA home loan guaranty amount available to eligible veterans. It amends 38 U.S.C. § 3703(a)(1)(C) by changing the calculation for the guaranty limit from "25 percent of the Freddie Mac conforming loan limit" to "25 percent of the Freddie Mac conforming loan limit multiplied by 1.5." This effectively raises the maximum guaranteed loan amount by 50% for veterans using the VA home loan program. The bill directly affects veterans seeking home loans through the VA program who qualify for the standard guaranty.