Regulations and Fees
While the VA refinance loan is a federal program, the government generally does not make direct loans to applicants. Private lenders, including Mutual of Omaha Mortgage, finance the loan while the Veteran's Administration offer an insurance guaranty. This guaranty provides an incentive for private lenders to offer loans with better terms, and protects them in the event of a customer default.
In most parts of the country, applicants who qualify for the VA Loan can purchase a home worth up to $417,000. To find out the VA Loan Limit in your area, give Mutual of Omaha a call at 1-800-24-RATES.