VA Loans / "VA Jumbo" - loan limits going away nationwide.

[Chris Mason]

https://www.housingwire.com/articles/49421-bill-eliminating-va-loan-cap-signed-into-law

Huge for the San Francisco Bay Area, Oakland, DC, LA, San Diego, and other high cost areas of the country. Can't wait to do my first $3m 0% down VA loan. :)

For those curious, currently veterans have to put down 25% of the difference. In my area the loan limit (in 2019) is $726k. If you buy an $826k home, 25% of the difference is $25k down. My reading of the bill, as well as the law it amends, is that lenders will go for 0% down once the VA puts out guidance that effectively enacts the law (in theory it's in effect now, in reality no lender will go for it until the VA confirms & describes any implementation steps necessary).

[Michael Sjodin]

That's awesome. I recently purchased my first investment home in Southern California for $427,500 and 0% down through a VA loan. This is going to help a lot of veterans in high cost of living areas achieve financial independence faster. Always great to see other veterans interested making it happen.