The New VA Home Loan Limit Change in 2020 - Koch Homes

The New VA Home Loan Limit Change in 2020

Uncategorized l February 10, 2020

VA loan limits have been lifted! That’s right – in 2020, qualified individuals can fully fund the purchase of their new home, thanks to the Blue Water Navy Vietnam Veterans Act of 2019. That’s something to celebrate because it means you don’t have to settle!

What sparked the new change?

The Blue Water Navy Vietnam Veterans Act of 2019 expanded VA benefits for Agent Orange exposure. At first, only veterans who served in the country or inland waters were eligible for disability benefits. Now the law has expanded disability benefits to veterans who served in ships off the coast of Vietnam during the war.

In order to pay for the expanded disability benefits for other veterans who may now be eligible, the VA removed some restrictions on VA home limits.

This allows qualifying veterans to borrow money for a home with no limit, which allows them to purchase higher-value homes. Although lenders can still issue a cap or deny larger loans, the denial won’t be because of VA home loan rules.

In February only, Koch Homes is honoring your service by offering an extra $2,000 toward closing costs. This limited-time offer won’t be available forever, so there’s never been a better time to come home to Koch. Contact us today to take advantage of this deal.