WOW - VA Loans - Welcome to the 21st Century!
October 29th, 2007 Categories: Alexandria Dirt, Arlington Dirt, Falls Church Dirt, McLean Dirt, Northern Virginia Real Estate Finance, Reston Dirt
The VA announced today that they will begin providing financing for eligible 
military personnel for loan amounts up to $1,000,000 — that’s right, ONE MILLION DOLLARS! This is a bold and impressive step for VA and of course, for a prospective borrower, will require a deeper understanding of the options this opens up for them.
VA Loans are still limited to $417,000 for 100% financing, but with a calculated down payment, they will now fund loans up to $1,000,000. Additionally, they will now allow the VA funding fee to be added on top of the max loan amount calculation – this is a new option for VA loans.
IF you have VA eligibility, this is a great time to look into what your options are. It’s also a great time to be a buyer, while inventories are high and prices are negotiable.
Call today to discuss it – I have some excellent lending partners who can get you through the VA loan process with ease!
Happy Monday!
Jennifer
Copyright © 2007 Arlington Dirt Real Estate Blog 
[…] on the same topic. Jennifer, who dishes the dirt on Arlington, Virginia real estate, posts about VA loans entering the 21st century. Margaret is focusing on Crofton while talking about financing higher priced homes. While we […]
That’s great news.
Wow I didn’t know they would go all the way up to 1 mil. it is about time they started to get with the picture! that will help a lot of people.