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.
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