Various other transform you to grabbed effect when you look at the is Virtual assistant loans are no extended at the mercy of loan limits. If you would like purchase inside a very high priced housing industry, you could continue your to purchase potential inside your. And with no advance payment.

It doesn’t mean you can get a home you simply cannot afford. You nevertheless still need sufficient income so you can be eligible for the mortgage and you can need to meet your own lender’s borrowing requirements.

Another caveat – folks who are currently spending towards good Va mortgage or exactly who defaulted into the a previous financing – was at the mercy of financing limits inside 2020. Continue reading →