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Guaranty
(Lender’s Handbook, Chapter 3, Topic 3)
AMOUNT OF GUARANTY
The maximum guaranty on a VA Loan is the lesser of:
- The veteran’s available entitlement indicated on the COE, OR
- The maximum potential guaranty amount from the table below:
| LOAN AMOUNT | LOAN TYPES | MAXIMUM POTENTIAL GUARANTY | SPECIAL PROVISIONS |
| Up to $45,000 | All | 50% of the loan amount | Minimum guaranty of 25% on IRRRLs |
| $45,001 to $56,250 | All | $22,500 | Minimum guaranty of 25% on IRRRLs |
| $56,251 to $144,000 | All | 40% of the loan amount, with a Maximum of $36,000 | Minimum guaranty of 25% on IRRRLs |
| Greater than $144,000 | Must be for:
|
25% of the loan amount, with a Maximum of $104,250 for 2008. |
|
Note: The basic $36,000 entitlement is increased for home purchase, construction, and condominium loans in excess of $144,000 to provide 25% guaranty for loans up to the FHLMC conforming conventional loan limit ($417,000 for 2008).
History :: The Complete Lenders Training Guide :: General Rules For Eligibility :: VA Eligibility Center :: Military Records Centers :: Restoration of Entitlement :: Maximum Loan Amount :: Eligible Loan Purposes :: Interest Rate Reduction Refinance Loans :: Cash Out/Other Refinancing Loans :: Refinance Comparison Chart :: Energy Efficient Mortgages :: Joint Loans :: Farm Residence Loans/Adjustable Rate Mortgages :: Prior Approval Loans :: Guaranty :: Appraisal Assignments :: Special Adapted Housing :: VA Repossessed Properties :: Income Verification :: Assets :: Debts and Obligations :: CAIVRS :: Credit Analysis :: Compensating Factors :: Completing VA Form 26-6393 :: Maintenance and Utility Guidelines :: Automated Underwriting Systems :: Closing Packages :: Seller Concessions :: VA Funding Fee :: Guaranty Procedures :: Quality Review :: VA Forms :: Acronyms :: VA Training Broadcasts :: Jurisdiction Codes :: Regional Loan Centers :: VA Loan Number :: Contacting VA
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