VA Policies and Programs

The VA home loan program allows servicemembers, veterans, and surviving spouses to obtain financing on favorable terms - such as no downpayment or mortgage insurance - as an earned benefit for their service.

Overview: The VA share of the single-family mortgage market has grown in recent years, and with this growth it has become even more important to ensure the program is running efficiently and effectively. MBA supports efforts to deter serial refinancing of VA-guaranteed mortgages, or "loan churning," as a way to better protect borrowers and preserve the integrity of the Ginnie Mae securities that are collateralized by VA loans. MBA also continues to oppose proposals that would increase the cost of credit for VA borrowers to generate funds to be used for non-housing purposes.

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