Washington DC VA Loan Limits Increased for Remainder of 2012
VA Loan Limits Increase in DC Metro Area Through End 2012
Veterans take note! Legislation passed in early August changed Veteran's Affairs Loan Limits in the DC Metro area! Limits have been increased to as much as $838,750. The new VA loan limits are in effect (as of August 6th) and will continue until December 31, 2012.
Previous 2012 loan limits in the DC Metro area maxed out at $625,500. with no down payment, so this is quite an increase!
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Vets can still go above the maximum by making a down payment of 25% of the difference between the sales price and $838,750. As an example a VA buyer could now buy a property at a sales price of $1,038,750 with $50k down.
Get a PDF document on the new VA loan limit increase details
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Susan, That is a substantial increase that will help a lot of Veterans get in homes with no downpayment in the D.C. area.