VA Posts Updated Loan Limits Good Through September 30, 2011
The Department of Veterans Affairs recently posted updated VA loan limits that are effective through September 30, 2011. The new loan limits included an increased limit for active duty military and veterans purchasing homes in San Diego County. Veterans and active duty military members purchasing homes in San Diego County can now finance up to $537,500 with no money down. Veterans wishing to purchase a home that exceeds the 100% financing limit for their county can still use their VA Home Loan Guaranty by making a marginal down payment which is based on the difference between the 100% financing limit and the purchase price of the home. For more information we have included information and links from the United States Department of Veterans Affairs for your reference.
Semper Fi,
Randy
12/3/2010 - Important Notice: VA Loan Limits for 2011 have now been posted. Please note the limits apply for loans closed January 1, 2011 through September 30, 2011. It's also important to note that VA has no maximum loan amount; however, loan limits are established to determine the maximum guaranty for a particular county. Click for more news. SOURCE: United States Department of Veterans Affairs