VA Loan Limits have been extended for the remainder of 2011.
The VA has announced that the County Loan Limits for VA Loans will remain unchanged for Oct. 1, 2011- the extension will last until Dec 31, 2011. This announcement from the VA alleviates concerns that the end of the Temporary High Cost Loan Limits for Fannie Mae, Freddie Mac and FHA Loans set to end on Sept. 30, 2011 would have an adverse impact on Veterans utilizing the VA Jumbo or VA High Balance loan program during the last quarter of 2011.
Here is a link to the VA Announcement on VA Maximum Guaranty Limits – October 1, 2011 through December 31, 2011. VA County Loan Limits are used to determine VA Loan Entitlement and Guaranty, this change will allow Veterans to utlize VA Loans in higher cost markets with zero down options. The VA Jumbo limits for San Diego will remain at $537,500, Los Angeles and Orange Counties at $700,000, and much of the Bay Area will remain at $1m (San Francisco, Alameda, Marin, Contra Costa, and San Mateo counties).
We also offer VA Jumbo loans that exceed your county loan limits with an appropriate downpayment, call for details.
>>> Get started here on your VA Loan PreApproval or give us a call at 866-900-2342 (toll free direct)