Veterans Administration (VA) Increases Home Loan Limits

Posted on March 14, 2014May 13, 2014 by shikma.rubin@gmail.com

What happened: The Veterans Administration (VA) has increased the loan limits used to calculate VA’s maximum guaranty amount to $458,850 (previously $417,000) to most counties in Hampton Roads. These limits apply to all loans closed between February 28 and December 31, 2014. To see the updated loan limits, check out the announcement. What the news means for home buyers The Read more about Veterans Administration (VA) Increases Home Loan Limits[…]

House Passes Bill to Protect Homeowners from Flood Insurance Premiums

Posted on March 7, 2014May 30, 2014 by shikma.rubin@gmail.com

What happened: In early March, the House of Representatives passed a bill to protect homeowners from major increases in their flood insurance premiums. Read more here from CNBC. What it means to home buyers: The bill would limit annual increases of individual flood policies to no more than 18 percent under the National Flood Insurance Program. Further, home buyers will now pay a Read more about House Passes Bill to Protect Homeowners from Flood Insurance Premiums[…]

CFPB Unveils New Rules to Make Home Loans Safer

Posted on February 5, 2014May 13, 2014 by shikma.rubin@gmail.com

Back in January, the Consumer Financial Protection Bureau (CFPB) released a set of rules designed to make home loans safer and involve fewer surprises. The CFPB has now introduced the concept of a “qualified mortgage,” which means you meet certain criteria and prove your ability to repay the loan. With a “qualified mortgage,” you avoid unnecessary borrowing risks, and lendershave limits on how much Read more about CFPB Unveils New Rules to Make Home Loans Safer[…]