This video and its contents are not intended for residents or home owners in the states of MA, NY or WA.
Today at Low VA Rates, we’re talking about the new 2016 VA loan limits at our newest Whiteboard Friday, sporting our usual red in support of everyone deployed.
You can see the new loan limits that were just published for 2016 on our site, but here we’re breaking it down a little bit. The two major maximum loan amounts the VA has in place are $417,000 and $625,000. Not to be confused with maximum loan amounts, which can be much higher. Instead, this is just saying that the Department of Veterans Affairs will only guarantee loan amounts up to these numbers.
39 counties in total have raised their limits for 2016 from where the numbers sat last year. Overall, 235 counties across the U.S. have limits located somewhere between the $417,000 and $625,500 marks, and most of these surround major cities like Denver, Boston, and D.C. It used to be that Alaska and Hawaii were the only states that exceeded the standard limit. However, the housing market has been thriving recently. And these increases mean you can purchase a more expensive VA approved home without worrying about a down payment.
We truly feel that the VA home loan is hands down the best way for prospective veteran homebuyers to get a mortgage, and this program makes it possible for more eligible veterans to make home buying a reality.
Hop on our site at lowvarates.com or go to the VA’s official site to see the new published 2016 loan limits.
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2016 VA Loan Limits va benefits gi bill | |
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| Entertainment | Upload TimeStreamed live on 26 Feb 2016 |
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