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VA home loans can be obtained through private lenders. The VA simply guarantees a portion of each loan to protect the lender against loss if a borrower defaults on their payments. This allows lenders to offer reduced interest rates on VA housing loans. The U.S government sets limits on how much lenders can charge in fees.
The amount that you can borrow depends on your income and other factors. The VA publishes country-specific limits for VA loan limits on its website every year. You may qualify for up to 100% financing using a VA home loan if you meet certain criteria. So know your eligibility and the amount you can borrow, call Residential Mortgage Network, Inc. office today.
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