Starting January 2020, the maximum loan limit will be $1,500,000 across the country (no longer State or County specific). *Borrowers with partial VA Eligibility will want to review the amount they can purchase with no money down with a licensed lender*
What does this mean? The Funding Fee amounts for VA Purchase and Refinance transactions will increase for loans closing on or after January 1, 2020. The table below outlines these changes:
This is a great opportunity for our Veterans to purchase with no money down without county to county loan amount caps!
Virginia, Maryland, and Washington DC have considerably high veteran populations, both in terms of percentage and sheer number. That said, condominium boards and HOAs are wise to seek…