Most veterans are aware that they have access to the VA Home Loan program. The program is one of the greatest benefits of serving because it enables vets to purchase a home with little-to-no money down, while getting a competitive interest rate. In addition, eligibility for the program is not determined by your economic status -- as long as you qualify for the loan amount you can get the loan guaranty.
The current VA loan limit for no-down payment VA loans is pegged at $417,000. However, here is the little known fact, veterans purchasing homes in high-cost areas can qualify for as much as a $1 million loan without having to provide a down payment. That's right, the loan limits for locations in California, Virginia, Colorado, Hawaii, and Alaska -- to name a few -- range up to $1 million (Marin County California).
Read the full article in the Military.com Home Buying Section to learn more about the VA Home Loan limits for 2011.