Capt Hank
02-08-2005, 16:35
** VA Home Loan Program Higher Limits
Recent legislation signed by President Bush makes home ownership more affordable
for many veterans. Changes under the law mean veterans will be able to get home
loan guaranties of $89,912 to qualify for the Freddie Mac conforming loan limit for
a single family home of $359,700. The previous ceiling was $240,000. VA-guaranteed
home loans are made by banks and mortgage companies to veterans, service members and
reservists. With VA guaranteeing part of the loan, veterans can receive a good
interest rate without having to make a downpayment. The law also allows for load
limits to keep pace with rising home values. More information about VA home loan
benefits is available on the web at www.homeloans.va.gov .
Recent legislation signed by President Bush makes home ownership more affordable
for many veterans. Changes under the law mean veterans will be able to get home
loan guaranties of $89,912 to qualify for the Freddie Mac conforming loan limit for
a single family home of $359,700. The previous ceiling was $240,000. VA-guaranteed
home loans are made by banks and mortgage companies to veterans, service members and
reservists. With VA guaranteeing part of the loan, veterans can receive a good
interest rate without having to make a downpayment. The law also allows for load
limits to keep pace with rising home values. More information about VA home loan
benefits is available on the web at www.homeloans.va.gov .