| VA (Veterans Administration) |
| VA loans are guaranteed by US Dept. of Veterans Affairs. The guaranty allows veterans and service persons to obtain home loans with favorable loan terms, usually without a down payment. In addition, it is easier to qualify for a VA loan than a conventional loan. Lenders generally limit the maximum VA loan to $203,000.00. The US Dept of Veterans Affairs does not make loans, it guarantees loans made by lenders. VA determines your eligibility and, if you are qualified, VA will issue you a certificate of eligibilty to be used in applying for a VA loan. VA-guaranteed loans are obtained by making application to private lending institutions. |


