Tag: veterans affairs mortgage

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Loan Limits Removed From VA Loans

July 2019 is a month for the history books. Today Realtors and veterans everywhere are celebrating as the Blue Water Navy Vietnam Veterans Act has just been signed into law. H.R. 299, which eliminates the cap on home loans issued by the Department of Veterans Affairs, is a bill benefiting veterans seeking to make home purchases.

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What Should I know About VA Loans?

More often than ever, today’s veterans are taking advantage of VA home loans. With zero down payment, no mortgage insurance, and flexible standards for credit, VA loans are, hands down, the best loan available on the market. Because of these reasons, if you know someone who is veteran or has some military affiliation, it may be worthwhile to explore VA loans as a possible road to homeownership.

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Mortgage Types

FHA Mortgage – Offers low down payments and is backed by the U.S. Government. –

USDA Mortgage – Zero down payment mortgage available in rural areas. –

Conforming mortgage – Mortgages which meet the guidelines of Freddie Mac and Fannie Mae offer down payments as low as 3%.