VA 100% FINANCING: NEW 2009 VA LOAN LIMITS

The new 2009 VA loan limits have been announced. Here is a link to those new limits by County.  Although somewhat lower than the temporary 2008 limits, they still offer much needed help in high costs areas.

VA Maximum Loan Limits

People sometimes ask if VA does Jumbo Loans.  Ummm…sort of.   As I wrote in a previous post, VA technically has no maximum loan limit.  What it does have is a maximum amount that it will guarantee; generally 25% of $417k.  However, in the high costs counties, that amount may be higher.

If you wish to buy a home beyond those limits, you must effectively make up the VA guarantee difference with a down payment.  For more explanation on that, read my previous post above or this one, or click this link to calculate that down payment for the home you are considering.

And give me a call when it’s time to get ready.  I can get you pre approved with either VA or CalVet if you are buying in California!