VA guarantees 29 millionth home loan
19% more loans guaranteed this year than in 2024
WASHINGTON — The Department of Veterans Affairs announced today it has guaranteed its 29 millionth home loan since the program was created in 1944, thanks in part to a 19% increase in VA home loan processing this year compared to the same time in 2024.
On Aug. 5, the 29 millionth loan was guaranteed for a $235,000 home in Maryland purchased by a Navy Veteran.
VA’s Home Loan Guaranty Program was created as part of the Servicemen’s Readjustment Act of 1944 (commonly known as the G.I. Bill of Rights), and since then, the department has guaranteed nearly $4 trillion in home loans for service members and Veterans. Nearly four million service members and Veterans have active home loans guaranteed by VA.
VA’s home loan program enables private lenders to offer eligible Veterans and service members loans that are guaranteed by the department, effectively eliminating the need for a down payment and mortgage insurance and making home ownership much more affordable.
“VA’s home loan program has helped service members and Veterans achieve the American dream millions of times over,” said VA Secretary Doug Collins. “It is one of the most effective federal programs in history, and we are proud to carry on its tradition of success.”
VA encourages those interested in the program to request a VA home loan Certificate of Eligibility from the department or through their mortgage lender. Currently, 99.8% of these certificates are issued within three days.
