Which statement about VA loans is FALSE?

The statement regarding VA loans that is false is that the government sets the maximum loan amount on all VA loans. In reality, while the VA does have limits on the amount it can guarantee for loans, the actual maximum loan amount is not dictated by the government and can vary based on other factors, including the lender's policies and the borrower's qualifications. This means that veterans can often secure loans that exceed the basic entitlement limits if they have additional eligibility or if the lender is willing to take on more risk.

On the other hand, VA loans are indeed designed to be accessible for qualified veterans, can be obtained without a down payment, and are backed by a government guarantee. This unique aspect makes them attractive options for veterans seeking financing for home purchases.