The VA will continue its loan program for now.
The home-loan guarantee program for military veterans will continue without restrictions until it reaches the loan commitment limit for the fiscal year, the Veterans Administration said. The current $11.5-billion ceiling on guarantees could be reached by April 1, VA officials said. The decision comes one week after the VA reported that spending limits under the Gramm-Rudman deficit reduction act had forced it to impose restrictions on its guarantee program that will sharply curtail the size and availability of insured mortgages.
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