First off.. Well done to Brian, Kris and Jeff (good stuff).. I can only stand so much of the ‘canned’ news coverage of the situation in So Cal.. I used to work 2 1\/2 yrs in San Juan Capistrano (yes, while commuting from Northern Cal) as the “real estate guy” for an East Coast Tower company.. I know the Fallbrook area very well and hope everyone will continue to stay safe..<\/p>\n
I heard from my Broker (a close friend and honest lender) @ Pride Lending Group that select banks are raising their current maximum loan amount on VA loans as a result of Ginnie Mae eliminating the restriction on the size of mortgage loans guaranteed by the Department of Veterans Affairs (VA) on Oct. 24th. The increased VA loan limits are expected to expand the availability of $0 Down loans to Veterans (with valid certificates of eligibility) by raising their current maximum loan amount to $1,000,000 plus the VA Funding Fee (for a maximum total of $1,033,000).<\/p>\n
I know that there are a couple of experts on the panel in this field (I haven’t been involved in the retail lending side of the business since the early 90’s), can we confirm this? Does the VA still comprise a relatively small percentage of the available buyers? I would assume that this is another attempt (albeit a good start) to get the government involved in addressing the ‘credit crunch’ and move this market in a positive direction. One of my calls today involved a private builder looking to offload hundreds of finished lots at any price. Any attempt (by the gov’t) to address market perception has to be positive at this point, doesn’t it?<\/p>\n","protected":false},"excerpt":{"rendered":"
First off.. Well done to Brian, Kris and Jeff (good stuff).. I can only stand so much of the ‘canned’ news coverage of the situation in So Cal.. I used to work 2 1\/2 yrs in San Juan Capistrano (yes, while commuting from Northern Cal) as the “real estate guy” for an East Coast Tower […]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-2085","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7456,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7456\/bloodhoundblog-radio-va-home-loan-tutorial-for-california-realtors\/","url_meta":{"origin":2085,"position":0},"title":"BloodhoundBlog Radio: VA Home Loan Tutorial For California REALTORS","author":"Brian Brady","date":"March 11, 2009","format":false,"excerpt":"I recorded this webinar on March 11, 2009. The AUDIO IS HERE and will open in a new window.\u00a0 Listen along and click through the links as I discuss them: The zero-down loan limits for California counties How a purchase price, above the VA loan limit, might not require a\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15383,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/15383\/lower-va-funding-fees-as-of-november-18-2011-attract-year-end-veteran-buyers\/","url_meta":{"origin":2085,"position":1},"title":"Lower VA funding fees, as of November 18, 2011, attract year-end veteran buyers","author":"Brian Brady","date":"November 22, 2011","format":false,"excerpt":"N.B:\u00a0 On the day before I published this, HR 674 passed, reverting the funding fee amounts to the \"old\" levels.\u00a0 It was updated in VA Circular 26-11-19, published November 22, 2011.\u00a0 The \"new\" lower funding fee schedule was in effect for three days, from Nov 18-21.\u00a0 Sorry for the confusion.\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16638,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16638\/va-interest-rate-reduction-loans-irrl-and-forebearances\/","url_meta":{"origin":2085,"position":2},"title":"VA Interest Rate Reduction Loans (IRRL) and Forbearances","author":"Brian Brady","date":"August 21, 2020","format":false,"excerpt":"A VA Interest Rate Reduction Loan (IRRL) is a streamlined refinance mortgage which allows veterans to lower their interest rate and payment without an appraisal, income qualification, or assets documentation.\u00a0 It is a simple process which, over the years, has been subject to lender overlays but still offers veterans a\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4751,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4751\/va-and-fha-higher-loan-limit-extension-through-2011-the-main-street-bailout\/","url_meta":{"origin":2085,"position":3},"title":"VA and FHA Higher Loan Limit Extension Through 2011: The Main Street Bailout","author":"Brian Brady","date":"September 30, 2008","format":false,"excerpt":"We don't have a \"Main Street\" in Southern California; we have the US Route 101 (or CA State Highway #1). We call it the Coast Highway, the Pacific Coast Highway, or the PCH.\u00a0 When I think of a bailout plan for Main Street, I think of it for homes within\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9325,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9325\/va-jumbo-mortgages-determining-the-down-payment\/","url_meta":{"origin":2085,"position":4},"title":"VA Jumbo Mortgages: Determining The Down Payment","author":"Brian Brady","date":"July 28, 2009","format":false,"excerpt":"Sean Purcell and I are really figuring VA-guaranteed\u00a0 jumbo loans.\u00a0 We're getting a steady stream of business from high-cost California counties.\u00a0 One of the common misconceptions is that VA loans are capped at the county loan limit, like FHA and conventional mortgages.\u00a0 I'm going to walk you through the formula\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4812,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4812\/other-types-of-credit-may-be-feeling-the-crunch-but-home-mortgages-are-still-readily-available\/","url_meta":{"origin":2085,"position":5},"title":"Other types of credit may be feeling the crunch, but home mortgages are still readily available","author":"Greg Swann","date":"October 4, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0Other types of credit may be feeling the crunch, but home mortgages are still readily available Bad news about the economy is coming in from all directions, so you may be in the mood for some good\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=2085"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2085\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=2085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=2085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=2085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}