Just three days ago, President Trump put the final signature to H.R. 299, the “Blue Water Navy Vietnam Veterans Act.”
This legislation included eliminating the cap on the VA Home Loan guarantee.
This is enormous!
On Monday, the VA Loan was tied to the FHA Loan cap, which is $484,350 in 2019 for most loans.
Above that, borrowers had to put down 25 percent of the difference.
For example (and using round numbers because it’s easier), let’s call the cap $500k.
If you wanted to buy a house for $700k, you would have to put down 25%, or in this case, $50k.
Not terrible all things considered.
Now, there is no cap!
If you are well-qualified, you can buy a 10 Million Dollar home… for zero down.
If you have more questions about real estate, including VA Loans, hit me up in the comments. If it’s a quality question, I may just cut another video to answer it.
Have a great weekend.