The Veterans Benefits Improvement Act of 2004 (S2486) brought about significant and positive changes in the VA Home Loan Program.
Until the new law was enacted, the statute capped the limit on the maximum loan guaranty at $60,000. With the new law, the maximum guaranty now adjusts automatically each year. Now for example, veterans' purchasing power for a single-family residence is increased from $240,000 to $359,650. More importantly, the guaranty amount will now keep in stride with market considerations.
The local VA office can provide more details on guaranty and entitlement amounts.
U.S. Department of Veterans Affairs
VA Regional Loan Center
275 Chestnut Street
Manchester, NH 03101