Most home mortgages have a so-called loan limit, which caps how much a home buyer can borrow to purchase a home.
The VA loan is an exception.
Instead of a loan amount limit, the VA loan has a loan guaranty limit.
The difference has major implications for veteran borrowers who want to purchase a home with a VA loan and no down payment.
Read more:
http://www.bankrate.com/finance/mortgages/va-loan-guaranty-1.aspx?ic_id=Top_Financial%20News%20Center_link_4
