The Department of Veterans Affairs (VA) has announced they have revised their loan limits for borrowers with no down payment and proper entitlement.
According to the Department, “VA loan limits are based off median home values estimated by the Federal Housing Administration (FHA). These values are the basis for which VA calculates limits for our program. For 2014, some limits increased, some stayed the same, and a few decreased.”
The VA allows for loans above these limits but they would require a down payment.
Below is a list of cities/counties in Virginia and their new revised loan limit. If your county is not listed then the limit is still the $417,000.
Hampton Roads Real-e-statement is written by Alyssa Godwin, a Realtor with Liz Moore and Associates. For questions regarding buying or selling contact Alyssa at 757-329-6161 or firstname.lastname@example.org. You can also find Alyssa on Facebook or on the web at www.lizmoore.com/alyssagodwin.