VA Home Loans
VA loans are not loans from the Department of Veteran Affairs (DVA). The DVA
does not loan money, however they do guarantee the loans making it easier for
you to qualify. Think of the DVA as a co-signer. When you apply for a VA loan
from a lender (Banks, credit unions, etc) the DVA is telling that lender if
you default on the VA loan, they will repay it. This allows lenders to know
they will get repaid, making them more willing to approve you for a VA loan.
The VA has set $417,000 as the standard loan limit. However in some high cost
areas they allow VA loans up to $1M. To see a list of high cost areas and the
loan limits please click here.
Take a moment to review the links on the left for valuable information.
From our Blog:
VA Loan Approval Timelines
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VA Loans
