More than 29 million veterans and service personnel are eligible for VA financing. Even though many veterans have already used their loan benefits, it may be possible for them to buy homes again with VA financing using remaining or restored loan entitlement.

• Before arranging for a new mortgage to finance a home purchase, veterans should consider some of the advantages of VA home loans
  
  
• Most important consideration, no down payment is required in most cases.
  
  
• Loan maximum may be up to 100 percent of the VA-established reasonable value of the property. Due to secondary market requirements, however, loans generally may not exceed $203,000.
  
  
• Flexibility of negotiating interest rates with the lender.
  
  
• No monthly mortgage insurance premium to pay.
  
  
• Limitation on buyer's closing costs.
  
  
• An appraisal which informs the buyer of property value.
  
  
• Thirty year or fifteen year loan terms with traditional fixed payments (constant principal and interest; increases or decreases may be expected in property taxes and homeowner's insurance coverage);
  
  
• An assumable mortgage, subject to VA approval of the assumer's credit.
  
  
• Right to prepay loan without penalty.
  
  
• VA performs personal loan servicing and offers financial counseling to help veterans avoid losing their homes during critical, but temporary financial difficulties.

To apply for a VA loan, search your files for a copy of your DD-214 form, or contact LenderDave.com for assistance..or send an e mail to Dave@LenderDave.com for help with DD214 request forms to obtain this information from the appropriate government agency office