We encourage
VA Home Loan borrowers users to use the free NMLS Consumer Access Link to confirm that
any mortgage company or mortgage professional with whom they wish to conduct business is authorized to conduct
VA mortgage business in their state.
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VA Jumbo
Loan Programs
Effective March 6, 2008,
HUD offered
temporary VA Jumbo Loan
Limits that will range from
$271,050 to $729,750 (Limits). Overall, the
change in loan limits will help provide economic
stability to America's communities.
The maximum
amount of $729,750 will only be applicable to
extremely high-cost metropolitan areas.
Previously, VA's loan limits in these very
high-cost areas were capped at $362,790.
The Economic Stimulus Act of 2008 permits VA to
insure loans on amounts up to 125 percent of the
area median house price, when that amount is
between the national minimum ($271,050) and
maximum ($729,750). The new minimum and maximum
loan limits are based on 65 percent and 175
percent of the conforming loan limits for
Government-Sponsored Enterprises in 2008, which
is $417,000.
The VA used a combination of
existing government data sets and available
commercial information to determine the median
sales price for each area. The change in loan
limits are applicable to all
VA Insured
Mortgage Loans endorsed with the
HUD publication
of the increased loan limits today, and it is
temporary.
With the number of homeowners applying daily, it is important for you to act quickly, so please,
Apply Now so that our
VA Mortgage Specialists can help you, today.
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VA Jumbo Loan
Programs
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VA Loan Information
The VA does not lend money.
The VA (Veterans Administration) is part of HUD &
backs individual Approved
Lenders.
Our responsibility is to help you find the best VA Approved Lender who can help you secure financing.
When
you fill in our short application we will provide your
information to one, (and
only one) VA Approved Lender who can help you based upon
many factors, including your Credit
Score, your State
Location, and the Type
of Loan you apply for. Our responsibility
is to help you find the best VA Approved Lender who can help you secure financing.
Note: We
are not affiliated with the Veterans Administration, the Department of Housing
and Urban Development, or
any other government agency. We are an VA Educational
Resource.
Read
more
VA News & Information
Last week's drop in interest rates sparked a surge in purchase mortgage application volume for the first time in over a month.
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