Okla-homey
9/21/2006, 06:25 AM
The VA just upped the home guaranty limit again. You can now get a no-down-payment home loan on up to $417,000. The previous limit was $359,650.
Incidentally, the VA home loan I got in 1990 was limited to $160,000.
That's pretty good progress for America's veterans in just 16 years.
If you've already used your loan benefit, you might want to see about getting a your entitlement restored, which you may be able to do if you sold that house to a VA eligible buyer, or the loan was paid off buy you or a subsequent buyer who assumed your loan. With an official certificate of release of liability from the VA on the previous home loan, you are all set to get another VA loan.
more info:
http://www.homeloans.va.gov
Incidentally, the VA home loan I got in 1990 was limited to $160,000.
That's pretty good progress for America's veterans in just 16 years.
If you've already used your loan benefit, you might want to see about getting a your entitlement restored, which you may be able to do if you sold that house to a VA eligible buyer, or the loan was paid off buy you or a subsequent buyer who assumed your loan. With an official certificate of release of liability from the VA on the previous home loan, you are all set to get another VA loan.
more info:
http://www.homeloans.va.gov