Home loan Guaranteed by the U.S. Veterans Administration (VA) under the Servicemen's Readjustment Act of 1944 and later. The VA Guarantees restitution to the lender in the event of Default. The Guaranty is $36,000 for a veteran with full entitlement. Home must be a principal residence.
Example: Abel, a veteran of the U.S. Army, wishes to purchase a home. Abel may apply for a VA loan with the Veterans Administration and, if qualified, may obtain a mortgage loan from a lending institution with no Down Payment.
Va Loan or Mortgage
| Real Estate Dictionary: Va Loan or Mortgage |
| 5min Related Video: Va Loan or Mortgage |
Learn More
 | Certificate of Eligibility (business term) |
| (TO) Guarantee (a Loan) |
| Certificate of Reasonable Value (CRV) (business term) |
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 | What law was passed last Thursday regarding mortgage lending possibly VA mortgage loans? |
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 | Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved. Read more |
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Mentioned in
- Certificate of Eligibility (business term)
- (TO) Guarantee (a Loan)
- Certificate of Reasonable Value (CRV) (business term)
- VA loan
