Lenders love to issue contracts to eligible veterans because online VA home loans guarantee that the veteran borrower will repay the lender. If the borrower defaults, then the VA will pay the loan on the borrower's behalf. However, in a case like this, the defaulter will become ineligible for another of these contracts until their original money is paid back to the VA. The contract has a borrowing maximum that is determined by the geographical location and the area housing market. A unique aspect to online VA home loans is that they can be used over and over again, for as many properties as desired up to the limit.