The Department of Veterans Affairs has announced the VA loan guaranty limits for Northern Virginia starting in 2013. The loan limits for Northern Virginia have gone up to $843,750. This new guaranty covers the following local counties:
If you are eligible for a VA loan you must still meet the credit and income requirements for a loan. The best place to start the discussion on using your VA loan for a home purchase in Northern Virginia is with a mortgage professional and Realtor® familiar with helping service members purchase a home with VA benefits. Not sure if you are eligible for a VA Loan? Check out the VA Loan Eligibility Requirements
No matter what the VA loan guaranty may be you want to buy a home that meets your needs and your budget. With low interest rates and more reasonable home prices than 5 years ago your budget will stretch further in Northern Virginia than before. A VA loan can be used for new construction, resales, short sale and some foreclosures (must be in good condition.)
If you have PCS orders to Northern Virginia including Fort Belvoir, Quantico MCB, Pentagon, Joint Base Myer-Henderson Hall, Military District of Washington or any local installation give me a call to discuss your housing needs.