The Department of Veterans Affairs will now guarantee no-downpayment loans above the Fannie Mae/Freddie Mac conforming loan limit under the Blue Water Navy Vietnam Veterans Act, signed into law by President Trump Tuesday night.
H.R. 299 eliminates the cap on VA home loans, which means that qualified homebuyers can now borrow above the agencys standard loan limit of $484,350 for most counties in 2019 with no downpayment requirements.
What does this mean? Its great news for our Veterans who are purchasing with a loan amount over $484,350 because there is no longer a down payment required (where there was previously if the veteran had full eligibility and was purchasing over the standard loan limit currently at $484,350).
We know VA Loans well and LOVE our Veterans.
Please call me if you have any questions!!!
The BRAD DANIELS Team 602-679-1025