A qualified veteran can get a no down payment purchase loan up to $417,000 (as of December 31, 2006 – amount usually changes yearly). There is no cap or maximum amount that you can borrow. Lenders may lend qualified veterans up to four times their entitlement through the Department without requiring a down payment. If you have previously received a home loan by qualifying through the Department, and have not used all of your available entitlement, you can receive what is left of the maximum amount of entitlement that has not been previously borrowed.
Speak to an Experienced Veteran's Benefits Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified veteran's benefits lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local veteran's benefits attorney to discuss your specific legal situation.