VA Cuts County Loan Limits For Mulit-Unit Properties in 2017!
VA Guaranty Is Based On The One-Unit Limit For 2017
Click Here to check the loan limit in your county.
While a Veteran may use the VA Mortgage to acquire a property up to 4-units in size, VA’s County Loan Limit amount will be based on the One-Unit (single-family residence) limit, as prescribed by FHFA in the aforementioned table. For example, if a Veteran plans to purchase a four-unit dwelling for $700,000, in a county where the FHFA One-Unit (single-family residence) limit is $424,100, then VA’s County Loan Limit amount would be 25% of the $424,100.”
This is a big change from years past where VA’s County Loan Limit increased based on the number units.
If you would like to learn more about VA Loans and Multi-Unit Properties, please call John Burke at 877-228-9069 or fill out the contact form below.
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