What is the maximum amount a vet can borrow with a VA home loan?

By
Real Estate Agent with Semper Find My Home SA649708000
https://activerain.com/droplet/4bZw

So in an effort to help the ActiveRain community, I'm kinda taking it upon myself to blog about anything VA and veteran related when it comes to buying and selling homes.  I feel that we don't do enough, and never can, for 1% of the population who serve the rest of us 99%.

WHAT IS THE MAXIMUM AMOUNT A VETERAN CAN BORROW AND WHAT'S THIS VA BONUS ENTITLEMENT THING ALEX?

The maximum guaranteed by the VA is 25% of the loan amount up to $104,250, which translates into maximum amount of $417,000.  However, the maximum guaranteed in Hawaii and Alaska is 25% of $156,325 or a maximum amount of $625,000. Maximum amount a vet can borrow with a VA home loan

But wait there's more, if you call now we'll not only send you the bamboo steamer, you'll get 2 free shamwow's and two ginsu knives.....SAY HELLO TO VA BONUS ENTITLEMENT ACTIVE RAINERS, WHAT IS IT AND HOW CAN IT HELP ME AS A REALTOR?

Nowadays, many homes cost more than $417,000 (have you been to California), or the veteran wants to purchase a house that costs more than the limits will allow.  Say hello to the Veteran Benefits Improvement Act of 2008.  In areas where the conforming loan limit is higher than the $417,000, bonus entitlement is more.  Click here to see which states and cities allow higher VA amounts and save the PDF for your records.

For example, a veteran in Orange county, California could get a loan up to $700,000, with ZERO, zip, nada, money down, take a look at San Fransisco, a vet can qualify for almost $1 million dollars with no money down, does that translate into a bigger commission for you over the $417,000 you thought they could only buy, you betch ya?  Pretty incredible huh, so all you agents out there who think $417,000 is the maximum, think again and help your clients buy the house they want and help get you a bigger sale.

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This Active Rain post is by Alex Popovic, for all your real estate needs please call 602-290-4266.

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Alex Popovic Real Estate Agent Phoenix, AZ (602) 290-4266

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