The VA Home Loan GRACE Act of 2024 increases the maximum loan guaranty amounts available to veterans under the Veterans Affairs home loan program, with enhanced benefits for what the bill calls "covered veterans" whose loans close before April 7, 2030. For most veterans, the bill maintains current guaranty limits, but covered veterans can access significantly higher guaranty amounts based on the Freddie Mac conforming loan limit, which adjusts annually and is substantially higher than existing caps. The legislation also clarifies how guaranty entitlements work when multiple veterans jointly use their benefits on a single loan, ensuring they can combine their available guarantees up to the maximum amounts specified. Additionally, the bill imposes a civil penalty of up to $23,607 for veterans who knowingly provide false certifications when applying for VA home loans, and it extends the deadline for certain loan fee rates from April 7, 2023 to April 7, 2030. The changes take effect 180 days after the bill is enacted.