Useful VA Benefits Information
   
More than 29 million veterans and service
personnel are eligible to receive benefits,
including VA loans, the most popular of all
VA benefits. The federal government recently
improved the VA loan program, making it
even more attractive to the nation's veterans.
In addition the raising the VA loan limit to
$417,000, the government has made
improvements to its Adjustable Rate
Mortgage (ARM) program.
Improvements to the Veteran's Affair ARM Loan Program
 
 
•

The VA has reinstated Adjustable Rate Mortgages (ARM), which allow interest rates to fluctuate with a specified index over the course of the mortgage.

• Adjustable Rate Mortgages feature annual interest rate adjustments.
• Interest rate adjustments will be limited to a maximum increase or decrease
of 1 percentage point.
• Rate adjustments will be limited to a maximum increase or decrease of 5 percent during the life of the loan.
• Make sure you know how an ARM will affect your monthly loan payments. Some families budget for a certain loan payment each month. With an ARM, your payments may be adjusted higher.
• You can get information on other benefits such as Health, GI Bill, and more.
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  Be sure to check out our specific VA Lending Guide for additional information.
 
 
  Increase in Veteran's Affair Loan Limits  
     
 

The new VA loan guaranty increase comes at a good time for the nation's veterans. While the average U.S. home value has appreciated almost 75 percent since 1995, the VA loan guaranty amount increased only 18 percent in the same span.

The new VA loan guaranty increase ensures that most lenders will have the ability to provide a maximum loan of $417,000. That, in turn, allows most veterans to buy a home that is well within the average price range.

The new VA loan guaranty increase ensures that most lenders will be able to provide a maximum loan of $417,000, which will allow veterans to purchase a home that is well within the national average home price
Learn About VA Adjustable Rate Mortgages

  
     
  Veteran's Affair Loan advice and other VA sites:  
     
 

Veterans can receive more advice on VA loans and VA refinances from Bankrate. This site can help answer any questions you may have, including questions about interest rates and whether or not to refinance with a VA Home Loan Calculator. Another great resource for reading about VA Loans and other Mortgage News items sometimes related to the VA is US Mortgage News.

Information regarding benefits for veterans, including a helpful VA Benefit List, which provides additional information about VA loans. The VA web site also has information about the GI Bill and Canada's Veterans Programs.