Guide to VA Home Loans
Maximum VA & Conforming Loan Limits Increased for 2021
Posted in Guide to VA Home LoansPosted by Maple Tree Funding
The Federal Housing Finance Agency has announced that conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2021 will increase by almost 7.5 percent. Throughout the majority of the U.S., the 2021 maximum conforming loan limit for one-unit properties will be $548,250, an increase from $510,400 in 2020. In 2020, the Veterans Administration announced that there would be no limit for VA loans. However, for 2021, the VA loan limits will…
Continue Reading »Why You Should Have a New York VA Mortgage If You Are an Eligible Veteran
Posted in Guide to VA Home LoansPosted by Shane Latza
When it comes to securing a mortgage, there are many loan products available. In some cases, homebuyers are eligible for a number of loan types, giving them a few options to choose from when it comes to financing a new home. Unfortunately, when it comes to VA loans, many qualified veterans do not find out they were eligible until they’ve already committed to another type of home loan. Choosing a Home Loan Product – Are You…
Continue Reading »NY VA Home Loans: Veteran Home Mortgages and Certificate of Eligibility
Posted in Guide to VA Home LoansPosted by Shane Latza
In July of 1930, through an executive order by Herbert Hoover, the Veterans Administration was created. The federal government guarantees VA-guaranteed loans through the Veterans Benefits Administration. What Are VA Loans? The main purpose of the Veteran Affairs in guaranteeing loans is to help meet the housing needs of eligible veterans who have served or are currently on active duty in the US Armed forces: Army Navy Air Force Marine Corps Coast Guard Reserves National…
Continue Reading »VA Interest Rate Reduction Refinance Loans & VA Mortgage Refinancing Options
Posted in Guide to VA Home LoansPosted by Shane Latza
Are you a veteran and own a home? Have you thought about refinancing your VA mortgage? There is a home refinance option available through the VA that could potentially save you hundreds or thousands of dollars a year. It can help you save on your monthly payment by obtaining a lower interest rate, as well as help you reduce the overall interest paid during the life of your loan. And, depending upon your current mortgage…
Continue Reading »How To Determine VA Mortgage Loan Eligibility
Posted in Guide to VA Home LoansPosted by Shane Latza
Many veterans are eligible for VA mortgages which usually have more favorable terms than conventional mortgages, as the Dept. of Veterans Affairs (VA) guarantees a portion of the loans. Determining eligibility early in the search for a new home will help you better determine how much home you can afford, as you’ll be able to take advantage of specific home loan programs not available to the general public. VA Mortgage Eligibility Requirements To determine eligibility,…
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