Which independent federal agency oversees programs for veterans, including guaranteeing long-term mortgages?

The Department of Veterans Affairs (VA) is the independent federal agency responsible for overseeing programs that support veterans, including guaranteeing long-term mortgages. The VA offers several benefits, including the VA loan program, which provides eligible veterans, active-duty service members, and some surviving spouses access to guaranteed home loans. This program facilitates purchasing homes without the need for a down payment and helps veterans secure financing with favorable terms.

The VA’s role in guaranteeing mortgages is significant because it reduces the lending risk for private lenders, which in turn promotes homeownership among veterans. This program is designed to support those who have served in the military by providing them with easier access to financing options, which is essential for building stable lives after their service.

The other entities listed have different roles; for instance, the Department of Defense is focused primarily on the military and national defense rather than housing. The Federal Housing Administration provides mortgage insurance on loans made by approved lenders, but it’s not specifically geared toward veterans. Meanwhile, the Department of Housing and Urban Development oversees federal housing and urban development programs but does not specialize exclusively in veteran-related services. Therefore, the Department of Veterans Affairs stands out as the correct answer in overseeing programs specifically designed for veterans, including those related to mortgage guarantees.