VA Mortgage Loans - The Mortgage Porter

2020 VA Loan Limits for Washington State

December 31, 2019 by Rhonda Porter 2 Comments

The loan limits for VA mortgage loans have been announced. 2020 VA loan limits will follow conforming mortgage limits for single family homes.

Mortgage Master Service Corporation will lend up to $2,000,000 subject to Veteran entitlement eligibility requirements.

Home Sellers should really consider accepting VA home buyers. Just because they’re putting less down, does not mean they are less qualified. VA home buyers have EARNED this benefit by serving our country. And these days, VA mortgage loans are not any more or less challenging to process and close than any other type of home mortgage. VA loans do not have monthly mortgage insurance and they have very competitive mortgage rates.

If I can help you with a VA mortgage or any type of home loan for property located in Washington state, please contact me.

Filed Under: VA Mortgage Loans Tagged With: 2020 loan limits, va jumbo, va loans

2019 VA Loan Limits for Washington State

December 13, 2018 by Rhonda Porter Leave a Comment

The loan limits for VA mortgage loans have been announced. 2019 VA loan limits will follow conforming mortgage limits for single family homes.

Here are the 2019 VA Loan Limits:

King County, Pierce County and Snohomish County: $726,525

All other counties: $484,350

VA loan amounts can exceed the loan amounts referenced above. The “limit” is the maximum a veteran can borrower without having a down payment. Veterans may receive a reduced down payment when the loan amount exceed the loan “limit”.

If a qualified Veteran wanted to buy a home above the loan limit (aka “VA Jumbo”), their minimum down payment is 25% of the difference between the county loan limit and the sales price.

If I can help you with a VA mortgage or any type of home loan for property located in Washington state, please contact me.

Filed Under: VA Mortgage Loans Tagged With: 2019, loan limit, va

2018 VA Loan Limits for Washington State

December 6, 2017 by Rhonda Porter Leave a Comment

Loan limits for VA mortgages have been announced and, like last few years, will follow the conforming loan limits.

Technically, VA loans do not have “loan limits” like conforming and FHA mortgages. The “loan limit” that is referred to with a VA loan is highest loan amount a Veteran can borrower without making a down payment. It’s really a great benefit to those who have served our county. [Read more…]

Filed Under: VA Mortgage Loans Tagged With: 2018, VA Loan Limit

2017 VA Loan Limits for Washington State

December 2, 2016 by Rhonda Porter Leave a Comment

Loan limits for VA mortgages have been announced and, like last year, will follow the conforming loan limits.

Technically, VA loans do not have limits like conforming and FHA mortgages. The “loan limit” that is referred to with a VA loan is highest loan amount a Veteran can borrower without making a down payment. It’s really a great benefit to those who have served our county. VA Jumbo loans (loan amounts over the VA limit) allow veterans to buy higher priced home with a greatly reduced down payment. [Read more…]

Filed Under: VA Mortgage Loans Tagged With: 2017, loan limits, va

2016 VA Loan Limits for homes in Washington State

December 18, 2015 by Rhonda Porter Leave a Comment

Loan limits for VA mortgages have been announced and, like last year, will follow the conforming loan limits. This means that VA loan limits will be higher for King County, Snohomish County and Pierce County effective 2016.

[Read more…]

Filed Under: VA Mortgage Loans Tagged With: 2016, loan limits, va