VA Loan Lending Limits

VA eligibility allows for a veteran to borrow up to $417,000 for a home through the VA loan program.

Veteran Home Loans Rates for 7/27/2008
30 Year Fixed ----------------- 0.000 points 6.500% 6.618% APR		15 Year Fixed ----------------- 0.000 points 6.500% 6.500% APR		Hybrid 3/1 ARM ----------------- 0.000 points 7.500% 8.000% APR

Frequent Question # 9:
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The VA Guaranteed Loan - Advantages
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If you are looking to purchase a home with no money down, you're in luck if you qualify. VA mortgage loans can be guaranteed with no money down in most cases up to $417 thousand dollars. An added bonus? No private mortgage insurance requirement with a VA guaranteed loan. The VA even offers help for those looking to refinance. Don't investigate these benefits without asking for information about the interest rate reduction loan, part of something called the Streamline Refinancing Program, which allows veterans to refinance at little or no expense to them. VALoans.com can give you all the details you'll need to take full advantage of your VA home loan benefits. -- -- -- -- -- -- -- --

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-- What is a VA Loan?
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-- Your Loan Checklist

VA LOAN LENDING LIMITS

MAXIMUM GUARANTY AMOUNT

The Veterans Benefits Act of 2004 was signed by the President on December 10, 2004. The law changes the maximum guaranty amount of $60,000, for certain loans in excess of $144,000, to an amount equal to 25 percent of t he Freddie Mac conforming loan limit determined under section 305(a)(2) of the Federal Home Loan Mortgage Corporation Act for a single family residence, as adjusted for the year involved.

To illustrate, the maximum guaranty for 2006 would be $104,250. This is for 25 percent of the 2006 Freddie Mac conforming loan limit for a single family residence of $417,000.

The maximum eligibility for each veteran is $104,250 and the maximum loan amount with no down payment is $417,000.