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WHAT IS A VA-GUARANTEED MANUFACTURED HOME LOAN?

April 26, 2017home loan manufactured va-guaranteed

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WHAT IS A VA-GUARANTEED MANUFACTURED HOME LOAN?

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VA-guaranteed manufactured home loans are made by private lenders such as finance companies. The guaranty means that VA will protect the lender against loss if the veteran or a later owner fails to repay the loan. The amount VA will guarantee is 40 percent of the loan amount or the veteran’s available entitlement, up to a maximum amount of $20,000. The guaranty amount is not the same as the amount a veteran can borrow.