VA loan limits to increase around DC

Loan limits have been increased for many of the counties surrounding Washington DC.?Please view the link below?for detailed loan amount for the entire country. ?VA?loans?are?at 100% with no mortgage insurance. If you know a better deal on a loan make sure you tell me!? If you don't see the county on the list that means the?max loan allowed is $417,000

?The Honoring America?s Veterans and Caring for Camp Lejeune Families Act of 2012 was signed into law August 6, 2012. Effective with the signing of this bill,(VA) loan limits have been?increased and will be in effect through December 31, 2014.

Updated loan limits for loans closed on or after August 6, 2012 through December 31, 2012, have been posted at http://www.benefits.va.gov/homeloans/loan_limits.asp.

Note that while VA does not have a maximum loan amount, the county ?limits? must be used to calculate VA?s maximum guaranty amount for that county.

.2013 county loan limits will be posted once VA receives median price data from the Federal Housing Finance Agency (FHFA). This transmittal from FHFA typically happens in November. If a loan limit for a county decreases in 2013, VA will guarantee a loan using the previous higher limit if there is proof of a pre-approval based on a sales contract or a Uniform Residential Loan Application (URLA) executed on or before December 31, 2012.

Thanks,

?

Brent Mendelson

Senior Loan Officer

1ST Mariner Mortgage

O-240-235-5314

C-301-412-0259

F-240-235-8236

Bmendelson@1stMarinerbank.com

Lending in all 50 states

nmls#111407

Source: http://www.trulia.com/blog/mdmortgage/2012/08/va_loan_limits_to_increase_around_dc

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