3 major updates to VA loans in 2020

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In June 2019, the Blue Water Navy Vietnam Veterans Act of 2019 passed Congress and was signed into law. This law includes a few significant changes to the VA home loan program, and all of these changes will go into effect on January 1, 2020.

Under this act, Purple Heart veterans will be able to waive the funding fee, regardless of their disability status. In addition, some servicemembers will temporarily experience small increases to the funding fee, while others will experience slightly lower fees. Finally, VA loan limits will be done away with.

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About Low VA Rates:

Low VA Rates is a VA-approved mortgage lender that was built out of a desire to help veterans access their VA home loan benefits. With over 10 years of experience specializing in the VA loan, you can trust the Low VA Rates team to help you find a mortgage with great rates and terms.

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This video is not intended for residents or homeowners in the states of WA, NY, or MA.

Low VA Rates NMLS#: 1109426

This video is not intended for residents or homeowners in the states of NY or MA.

[rockstarnurse]

What I'm waiting for is for the VA Loan to allow you to include renovation costs as a part of your loan; FHA loans have this feature.

[gregorythoman]

Glad I have a 30% disability. Plus in my state property taxes are waived. So why do I live in an apartment? I may have to rethink my life plan.

[puravida]

I'm a 100% disabled veteran. I gave up competing against hedge funds, corporations, cash buyers and others to buy a house in Florida. Some home sellers don't even entertain VA loan buyers. So, I'll keep purchasing properties in Costa Rica and Panama, at discounted prices.

[onthemicwithtarencebaileys]

What if you already have a va loan and its 7 months old. And you need to make improvements such as HVAC and a fence with a gate? 100% Service Connection

[comealongwithunclejoe]

Where or what is a funding fee when you use a VA home loan I am 100% disabled

[abombita]

So the VA also had loan limits per county for 2, 3, and 4 unit homes. How does this new change affect that? also is there a limit of how many units still?

[ScoutPL]

Always pays to get your C&P exam. Tinnitus alone, will service connect you. (Ringing in your ears from exposure to noise.)

[Lex-riki]

So if you’re an active duty service member, you can only use the VA loan if the house is where you’re stationed at? That sucks.

[timothyberlinski]

Main advantage of a VA loan is 0% down. If you have 10% to put down why would you go VA and have to still pay funding fee

[pililacantos]

I need to get in touch with one of you so I can move forward.

[AGthtsME]

What is the percentage for National Guard and Reservists using the VA loan for the second time?

[grantham]

T/F with the increase to limitless this also increases the number of concurrent VA loans that an AD person can have once the PCS to new stations without requiring reestablishing va refi out of old VA loans?

[ogPRAT]

I’m getting out of the military in the next few months. I have a job offer making about 65k a year annual salary not including overtime. I’m looking to get a home and invest in myself instead of throwing my money away on rent getting no where. I plan on wanting to get a house hold upwards to 5 bedrooms and renting the extra rooms out to give myself a safety cushion as well, pay off the mortgage loan ASAP so I can get myself another property. I’m a first time home buyer, but have been trying to figure out the best way to tackle this goal of mine on understanding the finances portion.

[dantu]

I don't qualify for a VA, . But still here learning

[tyronechandler]

Up to how many house can you get or can an 8 plex now be purchased with the VA loan in 2020 since the loan has no cap?

[jdqyfdm]

Can you explain the point of a VA loan? What's the benifit, how does it help?

[garrisp]

When are they going to change the rules governing student debt and VA home loans?

[DNUTZU]

So I’m currently deployed but when I get back home, within 3-4 months after I get back, I plan on moving to another state. Is it possible to still qualify for a VA home loan without having a job (at the time of the move) even though you have deployment money saved up? Other means of income would be available spouse wise and the no job situation would be temporary of course.

[ednitaperez]

If I buy a home that needs a full renovation, will this be covered by the VA ? Will a quadplex be approved and what are the requirements with building a quadplex?

[anieldanzot]

what about if you go to a house that cost less than your limit, you can still get the entire loan or just the cost of the property?