New Temporary Higher Loan Limits for VA Loans
August 23rd, 2008 by admin
VA LOAN ELIGIBLE HOME BUYERS
URGENT ANNOUNCEMENT - August 21, 2008 to December 31, 2008.
VA LOAN LIMIT RAISED TO UP TO $729,000 IN some MARYLAND and VIRGINIA areas..
VA Raising Home Loan Ceilings in Many Areas
NO DOWN PAYMENT
ALL CLOSING PAID BY SELLER
NO DOWN PAYMENT LOAN WITH ALL CLOSING PAID BY SELLER LOANS FOR VA HOME BUYERS
Effective immediately, as of August 21, 2008, eligible home buyer may use their VA benefits to
finance home purchases up to $729,000 with
The increased limits in the general home loan program for all veterans’ home purchases or construction will be based on local housing costs, tied to the similar locality adjustments of the Federal Home Loan Mortgage Corp., Freddie Mac.
VA home loans are available for veterans to purchase or construct single-family homes, and to purchase condominiums or cooperative apartments. There are about 2.3 million existing VA home loans, more than 90 percent made with no down payment.
The limit for Fannie Mae Loans in the Maryland and Northern Virginia real estate market is $729,000 in
VIRGINIA Counties with $729,000 Limit
Arlington County
Alexandria
Clarke County
Falls Church
Fairfax County
Fauquier County
Prince William County
Loudoun County
Spotsylvania County
Stafford County
Manassas
Manassas Park
Fredericksburg
MARYLAND COUNTIES WITH $729,000 LOAN LIMIT
Prince George’s County
Montgomery County
Howard County
Frederick County
Charles County
Calvert County
Baltimore / Towson - Loan Limit $560,000
Eastern Shore / Talbot County - Loan Limit $443,750
For more information, contact Lenn Harley, Broker, Homefinders.com, 800-711-7988
This entry was posted on Saturday, August 23rd, 2008 at 8:12 am and is filed under VA Loans. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
