Final answer:
The question relates to VA home loan policies, where there is no maximum loan limit and seller concessions are limited to 4% of the lesser of the sale price or appraised value.
Step-by-step explanation:
The question pertains to the policies of the VA (Veterans Affairs) home loan program. Specifically, it references the fact that the VA does not impose a maximum loan limit and that seller concessions are capped at 4% of the lesser of the sale price or the appraised value of a home.
This cap means that the total value of concessions, which could include closing costs, prepaid fees, and other inducements to close a home sale, cannot exceed 4% of whichever amount is lower between the sale price and the appraised value.