VA Loan Limit Update

The Honoring America's Veterans and Caring for Camp Lejeune Families Act of 2012 has been signed into law.  The act includes a number of changes to the VA loan guaranty program.  One of these changes include reverting back the previous method of calculating the maximum guaranty.  This has resulted in some VA loan limits increasing.  For Washington State those limits have increased as follows ~

Pierce, King and Snohomish County ~ $498,750
San Juan County ~ $470,000
For all other counties $417,000

These new limits apply to all loans closed from 8/6/12 to 12/31/12.  2013 limits are usually posted around November.

Some of the amazing benefits of VA Loans ~

          * 100% financing ~ NO DOWN PAYMENT
          *  No monthly mortgage insurance
          *  Seller concessions up to 4% that can be used for items like gifts, discount points, credit card balances, collections, etc..  (in addition to closing costs)     
          *  Surviving spouse of deceased Veteran may be eligble.

For more information on VA loans whether you are looking to purchase or refinance, please contact me! 

I offer a $500 credit at closing as part of my Homes for Heroes program for all Military, Firefighters, Police Officers, Teachers and Healthcare Workers as my way of saying "Thank you for all you do!"