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The VA has NO set limits, concessions are limited to 4% of the lesser of the sale price or appraisal.

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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.

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