VA Loan Lending News
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VA Lending Limits Increased to $417,000!
VA lending limits have been increased to $417,000 or up to $625,000 in some
high-cost areas. This does not limit a veteran's home value to $417,000
(or $625,000), it simply limits to guaranteed loan amount. Homes above the
limit will require a down payment to bring the loan amount down.
Let our mortgage specialists help you with the VA Loan process and into your
new home!
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VA Mortgage Benefits Under-utilized
In 2006, only 142,700 home loans were guaranteed through the VA. In contrast
there are approximately 24 million living veterans in the United States. This
staggering difference is even more important in the wake of the subprime
mortgage crisis. Due to guideline restrictions, the VA mortgage program is one
of the few 100% financing options left in today's lending market.
Call our VA loan
specialists to take full advantage of your benefits today.
Why Pre-Qualify for a VA Loan?
Many clients hesitate to get pre-approved for a loan even though the free
process provides a lot of advantages on both purchases and refinances.
In the case of purchases, it allows you to more accurately determine your
budget before shopping for a home. Pre-qualification also increases your
bargaining power with the sellers by showing that you’re ready and able
to purchase immediately. Finally, it also begins the loan process so your
purchase may be completed faster. In the case of refinances, prequalification
allows you to determine if refinancing is the right decision for you.
Pre-qualification is especially important in the decision-making process
because there are so many options to consider that must be tailored to your
specific situation.
Call our VA loan specialists
today to pre-qualify for your VA loan.