A bill to amend title 38, United States Code, to provide limited authority to the Veterans' Administration to guarantee a home loan made to a veteran for the purpose of refinancing a home loan guaranteed, insured, or made by the Veterans' Administration and secured by a home owned by not occupied by the veteran.

Amends Federal veterans' home loan provisions to authorize the Veterans Administration to guarantee a loan to a veteran for the purpose of refinancing a mortgage without regard to whether the veteran occupies the residence securing the loan, if certain conditions are met. Authorizes such guaranteed loan to a veteran also for refinancing a loan used to purchase manufactured homes and lots, under the same conditions.