Home Loan Benefits Expanded for Veterans

Home Loan Benefits Expanded for Veterans  

Loan Limits Have Been Increased on VA Loans Allowing More Veterans to Get Assistance With Their Home Loan

COLUMBIA, Mo., Jan. 25 /PRNewswire/ — With the recent passing of the Veterans Benefits Improvement Act of 2004, veterans will now be able to obtain larger VA loans with no money down. The Act, signed into law by President Bush on Dec. 10, 2004, raises the maximum loan amount, with no money down, from $240,000 to $359,650.

“Home prices have soared through the first part of the 21st century. And VA loans will now be able to keep up with these soaring prices,” commented Brant Bukowsky, CEO of www.VAMortgageCenter.com.

The increase in the VA loan guaranty amount comes at an appropriate time for the nation’s veterans. While national home prices have appreciated nearly 75 percent since 1995, the VA guaranty amount has only experienced one increase of approximately 18 percent since that time. The U.S. national average purchase price for a single-family home reached….

     

…$264,540 in October 2004, according to figures released by the Federal Housing Finance Board. This figure is more than 10% over the maximum that most lenders were previously willing to provide for a VA loan.

The VA Mortgage Center ( http://www.vamortgagecenter.com/ ), a private lender who specializes in VA Home loans, has worked with thousands of veterans across the nation. With this new Act, they will be able to the assist the Veterans that they previously could not help due to the low loan limits. “We anticipate that the new VA loan limits will help approximately 25% more of our online applicants qualify, who couldn’t qualify before,” said Bukowsky.

About VA Mortgage Center

The VA Mortgage Center is a private website that was developed to provide financial information for Veterans regarding their benefits established by the Department of Veterans Affairs. The company is a lender that specializes in assisting Veterans with their home loans. VA Loan specialists can be reached at 800-405-6682.

CONTACT: Brant Bukowsky for VA Mortgage Center, +1-800-405-6682/