Comments on: VA Loan Limit Raised to $1,000,000 http://soundbiteblog.com/2007/10/23/va-loan-limit-raised-to-1000000/ Bite Me! Sat, 22 Nov 2008 07:46:37 +0000 http://wordpress.org/?v=2.6 By: va loans http://soundbiteblog.com/2007/10/23/va-loan-limit-raised-to-1000000/#comment-11241 va loans Wed, 16 Jan 2008 01:41:56 +0000 http://soundbiteblog.com/2007/10/23/va-loan-limit-raised-to-1000000/#comment-11241 Sparky, you can't use va loans for investment purposes and I didn't see buckweat say that anywhere. Anyway, Thesa it is so true, I talked to some one today who was getting ready to buy their first house and and said "yea i want a loan because the va guranteed I can get one" People just don't get it that you still have to qualify. You are right the recruiters as well as the internal affairs need to do a WAY better job of explaiing how va home loan benefits work. Sparky, you can’t use va loans for investment purposes and I didn’t see buckweat say that anywhere. Anyway, Thesa it is so true, I talked to some one today who was getting ready to buy their first house and and said “yea i want a loan because the va guranteed I can get one” People just don’t get it that you still have to qualify. You are right the recruiters as well as the internal affairs need to do a WAY better job of explaiing how va home loan benefits work.

]]> By: Buckwheat http://soundbiteblog.com/2007/10/23/va-loan-limit-raised-to-1000000/#comment-7751 Buckwheat Wed, 24 Oct 2007 22:05:00 +0000 http://soundbiteblog.com/2007/10/23/va-loan-limit-raised-to-1000000/#comment-7751 Keep it up Sparky, I'll add your name to the spam list! Keep it up Sparky, I’ll add your name to the spam list!

]]> By: Sparky http://soundbiteblog.com/2007/10/23/va-loan-limit-raised-to-1000000/#comment-7750 Sparky Wed, 24 Oct 2007 21:22:33 +0000 http://soundbiteblog.com/2007/10/23/va-loan-limit-raised-to-1000000/#comment-7750 Hey, Mark! Welcome to the party!...(yeah, I know....BITE ME!) I've never fully understood the loan limits concerning VA. Like you say, what a great way to jump into the investment arena and still take advantage of the benefits of VA financing... Hey, Mark! Welcome to the party!…(yeah, I know….BITE ME!)

I’ve never fully understood the loan limits concerning VA. Like you say, what a great way to jump into the investment arena and still take advantage of the benefits of VA financing…

]]> By: Buckwheat http://soundbiteblog.com/2007/10/23/va-loan-limit-raised-to-1000000/#comment-7729 Buckwheat Tue, 23 Oct 2007 22:46:50 +0000 http://soundbiteblog.com/2007/10/23/va-loan-limit-raised-to-1000000/#comment-7729 Thesa, I know what you mean about clients believing they are automatically qualified. I run into that once in a while. More often though, it's the clients with some derogatory credit who think they CANNOT get approved VA when they often can. I find that more frustrating. The other misconception (that VA can only be used once), I see more often. A Vet can only use their eligibility on one house at a time, but they can use it over and over again. Another item to note, this change is not just for Washington. It applies to all of the US. So it should be coming to Oregon soon too. Mark Thesa,
I know what you mean about clients believing they are automatically qualified. I run into that once in a while. More often though, it’s the clients with some derogatory credit who think they CANNOT get approved VA when they often can. I find that more frustrating.

The other misconception (that VA can only be used once), I see more often. A Vet can only use their eligibility on one house at a time, but they can use it over and over again.

Another item to note, this change is not just for Washington. It applies to all of the US. So it should be coming to Oregon soon too.

Mark

]]> By: Thesa Chambers | Broker | Sunriver Realty http://soundbiteblog.com/2007/10/23/va-loan-limit-raised-to-1000000/#comment-7726 Thesa Chambers | Broker | Sunriver Realty Tue, 23 Oct 2007 21:55:39 +0000 http://soundbiteblog.com/2007/10/23/va-loan-limit-raised-to-1000000/#comment-7726 Rich - it always amazes me when I get a young buyer that qualifies for VA and they think... because they are eligible THEY are guaranteed the loan... the recruiters often times skip over the part where the borrower must still qualify. Another misunderstand I see is they think once they use their VA loan they can not do it again. Great information for your WA buyers and agents. Rich - it always amazes me when I get a young buyer that qualifies for VA and they think… because they are eligible THEY are guaranteed the loan… the recruiters often times skip over the part where the borrower must still qualify. Another misunderstand I see is they think once they use their VA loan they can not do it again. Great information for your WA buyers and agents.

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