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VA Loan Facts
VA LOAN LIMITS
MAXIMUM GUARANTY AMOUNT
REGULAR VA LOAN - $0 Down up to $729,750 in qualifying areas
SUPER MAXIMUM VA LOAN AMOUNT - $1,000,000
On October 10th, 2008, the President signed Public Law 110-389, the Veterans' Benefit Improvement Act of 2008. This law allows for $0 down payment loans in qualified counties to go up to $729,750 on loans closed through December 31st, 2011. Qualifying customers can now apply for a regular VA Loan with $0 down up to the $729,750 in qualified counties. To see the $0 Down amount for the single family home limit in your county, simply click on the applicable state.
FREQUENTLY ASKED QUESTION # 13 [ -more VA Loan questions- ]
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Q: Your Discharge May Affect Your Chances - I don’t have an honorable discharge. Am I automatically disqualified from VA loan eligibility?
A: The nature of your discharge can affect your eligibility for a VA loan. The certificate of eligibility process gets complicated for veterans separated from the military with a discharge other than honorable. In these cases the VA checks to see if the discharge was classified dishonorable. If you had an 'other than honorable' discharge, seek help from their local VA office, it's best to get some expert advice on what additional information to file, where to send the paperwork and what to do if an appeal is necessary. Be sure to include copies of your DD214 form, plus any paperwork or documentation showing that you either didn't receive a dishonorable discharge, or had your discharge upgraded, modified, or corrected.
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VA Loan Rates
for 12/02/2008
30 year fixed
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0.000 points
5.500%
5.610% APR
15 year fixed
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0.000 points
6.500%
6.694% APR
Life Insurance for Military Members
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