Loan limits will likely go up to $625K in 2022, but FHFA hasn’t announced it yet. Still, higher home values have convinced some lenders to boost loan limits now.WASHINGTON –
Congress Passes VA Loan Bill ☘ Hoey Team ☘ eXp Realty Florida
Dated: June 21 2019
The President is expected to sign H.R. 299, the "Blue Water Navy Vietnam Veterans Act." This legislation includes language which will eliminate the cap on the VA home loan guarantee. Veterans, under this legislation, will be able to purchase any home they qualify for using the VA home loan (with zero down payment).
As introduced, the legislation would slightly increase some of the guarantee fees for all veterans using the VA loan program, in order to pay for the healthcare component. NAR opposed this language, and in conjunction with other groups, was able to mitigate the impact of these increases. NAR will continue to work with the VA on implementing the loan limit provision and assuring all veterans have access to the home loan benefit.
Article from NAR Realtor Magazine
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