New VA Loan Updates For 2020

Dated: 11/30/2019

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Starting in 2020, there is now no VA loan limit!  The removal of loan limits doesn’t mean unlimited borrowing power without a down payment. You’ll still need to have sufficient income and meet a lender’s credit requirements to qualify for the loan amount, but this helps in higher priced markets. They are increasing the funding fees a little, from 2.15% to 2.3% for first use VA loans, and 3.3% to 3.6% for subsequent loans.  If you are a veteran and thinking about buying, contact me today and I can put you in touch with a great lender that will go over all of the details of the home loan process!

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Cheryl Riley

Cheryl Riley is an Associate Broker with American AllStar Realty. To continue to serve her clients the best way she can, she earned three designations: Accredited Buyer's Representative-ABR®, Seniors....

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