38 U.S.C. 3703: Basic provisions relating to loan guaranty and insurance

2019

• Pub. L. 116–23, §6(a)(1)(A)(i), struck out "the lesser of the maximum guaranty amount (as defined in subparagraph (C)) or" before "25 percent". (Blue Water Navy Vietnam Veterans Act of 2019) Law text · (a)
• Pub. L. 116–23, §6(a)(1)(A)(ii), substituted "subparagraph (B) or (C)" for "subparagraph (B) of this paragraph". (Blue Water Navy Vietnam Veterans Act of 2019) Law text · (a)
• Pub. L. 116–23, §6(a)(1)(B), substituted "With respect to loans described in subclauses (I), (II), or (III) of subparagraph (A)(i), the maximum" for "The maximum" and struck out "or in the case of a loan described in subparagraph (A)(i)(IV) of this paragraph, the maximum guaranty… (Blue Water Navy Vietnam Veterans Act of 2019) Law text · (a)
• Pub. L. 116–23, §6(a)(1)(C), added subpar. (C) and struck out former subpar. (C) which read as follows: "In this paragraph, the term 'maximum guaranty amount' means the dollar amount that is equal to 25 percent of the Freddie Mac conforming loan limit limitation determined under … (Blue Water Navy Vietnam Veterans Act of 2019) Law text · (a)

2012

• Pub. L. 112–154 amended par. (3) generally. Prior to amendment, par. (3) read as follows: "Any real estate housing loan (other than for repairs, alterations, or improvements) shall be secured by a first lien on the realty. In determining whether a loan for the purchase or constructi… (Honoring America's Veterans and Caring for Camp Lejeune Families Act of 2012) Law text · (d)

2009

• Pub. L. 111–22 inserted "at the time of origination" after "loan". Law text · (d)

2008

• Pub. L. 110–389 inserted "(5)," after "(3),". (Veterans' Benefits Improvement Act of 2008) Law text · (a)

2004

• Pub. L. 108–454, §403(a), substituted "the maximum guaranty amount (as defined in subparagraph (C))" for "$60,000". (Veterans Benefits Improvement Act of 2004) Law text · (a), (B)
• Pub. L. 108–454, §403(b), added subpar. (C). (Veterans Benefits Improvement Act of 2004) Law text · (a)

2002

• Pub. L. 107–330 substituted "3729(b)(2)(I)" for "3729(b)". (Veterans Benefits Act of 2002) Law text · (e)

2001

• Pub. L. 107–103 substituted "$60,000" for "$50,750". (Veterans Education and Benefits Expansion Act of 2001) Law text · (a), (B)

1998

• Pub. L. 105–368 substituted "3729(c)" for "3729(c)(1)". (Veterans Programs Enhancement Act of 1998) Law text · (e)

1996

• Pub. L. 104–110 struck out subpar. (D) which read as follows: "This paragraph shall expire on December 31, 1995." Law text · (c)

1994

• Pub. L. 103–353 substituted "$50,750" for "$46,000". · (a), (B)

1993

• Pub. L. 103–78 in second sentence substituted "Except in the case of a loan for the purpose specified in section 3710(a)(8), 3710(b)(7), or 3712(a)(1)(F) of this title, discount" for "Discount". · (c)

1992

• Pub. L. 102–547, §10(a)(1), in first sentence substituted "applicable to" for "the Secretary of Housing and Urban Development considers necessary to meet the mortgage market for" and struck out ", and, to the maximum extent practicable, carry out a coordinated policy on interest rat… · (c)
• Pub. L. 102–547, §10(a)(2), added par. (4). · (c)

1991

• Pub. L. 102–83, §5(a), renumbered section 1803 of this title as this section.
• Pub. L. 102–83, §5(c)(1), substituted "3710" for "1810" in introductory provisions. · (a)
• Pub. L. 102–54, §6(1), inserted "except as provided in subclause (IV) of this clause," after "(III)" and struck out "but not more than $144,000," after "$56,250,". · (a)
• Pub. L. 102–83, §5(c)(1), substituted "3710(a)" for "1810(a)". · (a)
• Pub. L. 102–54, §6(2), substituted "(6), or (8)" for "or (6)". · (a)
• Pub. L. 102–83, §5(c)(1), substituted "3710" for "1810" and "3702(b)" for "1802(b)". · (a)
• Pub. L. 102–83, §5(c)(1), substituted "3710(a)" for "1810(a)". · (c)
• Pub. L. 102–83, §5(c)(1), substituted "3710(a)" for "1810(a)" and "3712(a)(1)(F)" for "1812(a)(1)(F)" in subpar. (A), "3710(a)" for "1810(a)" in subpar. (B), and "3710(a)(9)(B)(ii) or 3712(a)(1)(G)" for "1810(a)(9)(B)(ii) or 1812(a)(1)(G)" in subpar. (E). · (c)
• Pub. L. 102–83, §5(c)(1), substituted "3729" for "1829" and "3729(c)(1)" for "1829(c)(1)". · (e)
• Pub. L. 102–83, §5(c)(1), substituted "3729(b)" for "1829(b)" in subpar. (A) and "3712" for "1812" in subpar. (B). · (e)
• Pub. L. 102–54, §4(b), added subsec. (f). · (f)

1989

• Pub. L. 101–237, §306(a)(1), added subcls. (II) to (IV) and struck out former subcl. (II) which read as follows: "in the case of any loan of more than $45,000, the lesser of $36,000 or 40 percent of the loan, except that the amount of such guaranty for any such loan shall not … · (a)
• Pub. L. 101–237, §306(a)(2), inserted ", or in the case of a loan described in subparagraph (A)(i)(IV) of this paragraph, $46,000," after "$36,000". · (a)
• Pub. L. 101–237, §313(b)(1), substituted "Secretary" for "Administrator" wherever appearing. · (a)
• Pub. L. 101–237, §313(b)(6), substituted "Secretary of Housing and Urban Development considers" for "Secretary considers". · (c)
• Pub. L. 101–237, §313(b)(1), substituted "Secretary" for "Administrator" wherever appearing. · (c)
• Pub. L. 101–237, §313(b)(1), substituted "Secretary" for "Administrator". · (c), (3)
• Pub. L. 101–237, §313(b)(1), substituted "Secretary" and "Secretary's" for "Administrator" and "Administrator's", respectively, wherever appearing. · (d), (C), (3)
• Pub. L. 101–237, §304(a), added subsec. (e). · (e)

1988

• Pub. L. 100–322, §415(a)(3)(B), inserted "and insurance" in section catchline.
• Pub. L. 100–322, §415(d)(1), inserted "as specified in subparagraph (B) of this paragraph" before period at end of cl. (A)(ii) and substituted "for purposes specified in section 1810 of this title" for "under section 1810 of this chapter" in cl. (B). · (a)
• Pub. L. 100–253 amended par. (1) generally. Prior to amendment, par. (1) read as follows: "Any loan to a veteran eligible for benefits under this chapter, if made for any of the purposes specified in section 1810 of this title and in compliance with the provisions of this chapter, is automatically … · (a)
• Pub. L. 100–322, §415(a)(3)(A)(ii), (iii), (B)(ii), redesignated subsecs. (a) and (b) of section 1815 of this title as subpars. (A) and (B), respectively, of par. (2) of subsec. (a) of this section and struck out former par. (2) which read as follows: "Any unused entitlement of Worl… · (a)
• Pub. L. 100–322, §415(c)(2)(A), substituted "1812(a)(1)(F)" for "1819(a)(1)(F)". · (c)
• Pub. L. 100–322, §415(c)(2)(B), substituted "1812(a)(1)(G)" for "1819(a)(1)(G)". · (c)

1987

• Pub. L. 100–198 amended par. (1) generally. Prior to amendment, par. (1) read as follows: "Any loan to a veteran eligible for benefits under this chapter, if made for any of the purposes, and in compliance with the provisions, specified in this chapter is automatically guaranteed by… · (a)

1984

• Pub. L. 98–223, §205(c)(1), substituted ", (8), or (9)(B)(i)" for "or (8)". · (c)
• Pub. L. 98–223, §205(c)(2), inserted "1810(a)(9)(B)(ii) or" after "section". · (c)

1982

• Pub. L. 97–295, §4(61), substituted "percent" for "per centum". · (a)
• Pub. L. 97–295, §4(63)(A), substituted "before October 23, 1970," for "prior to the date of enactment of the Veterans' Housing Act of 1970". · (a)
• Pub. L. 97–295, §4(63)(B), inserted "(12 U.S.C. 1709(b))" after "the National Housing Act". · (c)
• Pub. L. 97–306, §406(b)(1), substituted "used—" for "used:". Notwithstanding that Pub. L. 97–306 directed amendment be made in provisions preceding cl. (1), amendment was executed in provisions preceding cl. (A) as the probable intent of Congress in view of the absence of a cl. (1) … · (c)
• Pub. L. 97–306, §406(b)(2)–(4), added cl. (E). · (c)
• Pub. L. 97–295, §4(63)(C), substituted "June 6, 1969" for "the effective date of this amendment". · (d)

1981

• Pub. L. 97–72, §303(e), substituted "Any housing loan" for "Any loan". See 1988 Amendment note above. · (a)
• Pub. L. 97–72, §303(c)(1), substituted "any housing loan" for "any loan". · (d)
• Pub. L. 97–66 designated existing provisions as subpar. (A) and added subpars. (B) and (C). · (d)
• Pub. L. 97–72, §303(c)(2), substituted "Any real estate housing loan" for "Any real estate loan". · (d)

1980

• Pub. L. 96–385 substituted "clause (5) or (8) of section 1810(a) of this title or section 1819(a)(1)(F) of this title" for "section 1810(a)(5)". · (c)

1978

• Pub. L. 95–476, §103(a), substituted provision extending loan guarantees under this section to veterans eligible for benefits under this chapter for provision limiting such guarantees to World War II or Korean conflict veterans. · (a)
• Pub. L. 95–476, §103(b)(1), inserted provision authorizing the Administrator in establishing rates of interest under this paragraph for purposes of cls. (4) to (7) of section 1810(a) of this title to establish rates higher than the rate specified for other purposes under such sectio… · (c)
• Pub. L. 95–476, §103(b)(2), substituted "clauses (4) and (7) of section 1810(a) of this title" for "section 1810(a)(4)". · (c)

1976

• Pub. L. 94–324, §7(16), substituted "the Administrator will" for "he will". See 1988 Amendment note above. · (a)
• Pub. L. 94–324, §7(6), substituted "the Administrator determines" for "he determines". · (d)

1974

• Pub. L. 93–569, §8(1), struck out "and not more than 50 per centum of the loan if the loan is for any of the purposes specified in section 1812, 1813, or 1814 of this title" after "section 1810 of this title". · (a)
• Pub. L. 93–569, §8(5), struck out provision authorizing the Administrator to fix maximum interest rate payable on non-real-estate loans at not in excess of 3 percent discount rate or an equivalent straight interest rate on unamortized loans. · (a)
• Pub. L. 93–569, §8(2), struck out provision that, except as provided in sections 1810, 1811, and 1819, the aggregate amount guaranteed should not be more than $2,000 in the case of non-real-estate loans, nor $4,000 in the case of real-estate loans or a prorated portion thereof in a combination loan. · (a)
• Pub. L. 93–569, §2(c), added par. (3). · (c)
• Pub. L. 93–569, §8(3), substituted provision that the maturity of any loan shall not be more than thirty years and thirty-two days for provisions that non-real-estate loans shall not be more than ten years except as provided in section 1819, that the maturity of a real estate loan b… · (d)
• Pub. L. 93–569, §8(4), struck out provision that any non-real-estate loan should be secured by personalty to the extent legal and practicable. · (d)

1973

• Pub. L. 93–75 substituted provisions requiring the Administrator to consult with the Secretary of Housing and Urban Development regarding the establishment of the rate of interest the Secretary considers necessary to meet the mortgage market for home loans insured under section 203(… · (c)

1970

• Pub. L. 91–506, §2(b), struck out loan eligibility expiration dates for World War II and Korean conflict veterans and inserted provision restoring expired entitlements of World War II and Korean conflict veterans and providing that such entitlements shall not expire until used. · (a)
• Pub. L. 91–506, §2(c)(1), substituted "1810, 1811, and 1819" for "1810 and 1811". · (b)
• Pub. L. 91–506, §2(c)(2), limited maturity of non-real-estate loan to not more than ten years except as provided in section 1819 of this title. · (d)

1969

• Pub. L. 91–22 authorized the Administrator, in determining whether a Government loan is secured by a first lien on realty, to disregard a superior lien created by a duly recorded covenant which secures a veteran homeowner's share of the costs of managing, operating or maintaining pr… · (d)

1967

• Pub. L. 90–77 extended in cls. (i) and (ii) loan program for certain World War II veterans from July 25, 1967 to July 25, 1970. · (a)

1966

• Pub. L. 89–358 struck out provision for approval of rate of interest by the Secretary of the Treasury and substituted provision for a rate not in excess of that in effect under section 203(b)(5) of the National Housing Act, section 1709(b)(5) of Title 12, for former limitation of 5¼… · (c)

1961

• Pub. L. 87–84 substituted "to a World War II or Korean conflict veteran, if made within the applicable period prescribed in paragraph (3) of this subsection" for "made to a World War II veteran, if made before July 26, 1962 (or, in the case of a veteran described in section 1801(a)(1)(… · (a)

1960

• Pub. L. 86–665 substituted "1962" for "1960" in three places, "fifteen" for "thirteen" years, and "after such date" for "before July 26, 1961". · (a)

1959

• Pub. L. 86–73 struck out requirement that the interest rate on a Veterans' Administration guarantee for direct loan be at least one-half of one percent below the prevailing rate on FHA-insured sales housing loans and increased the interest rate ceiling from 4¾ to 5¼ percent. · (c)