Did You Say No More VA Loan Cap?

Caliber Home Loans, Inc. knows you may or may not have heard about the Blue Water Navy Vietnam Veterans Act of 2019. Due to this important piece of legislation, the VA loan cap will be removed, starting in January.

Tell Me More!

Historically, VA loan amounts over the maximum guaranteed loan amount $484,350 (which was the same as FNMA/FHLMC limit, set to change in 2020) require a down payment. This new legislation removes that down payment requirement, paving the way for VA loans without a down payment regardless of the loan size.

  • This will apply to VA loans guaranteed on or after January 1, 2020.
  • Max Loan Amount $1,500,000.

The legislation also changes guaranty fees for certain veteran groups:

  • Starting January 1, 2020, both active duty servicemen, veterans and reservists will pay 2.3% funding fee for initial use. This change lowers the funding fee for reservists.
  • On subsequent use of their VA entitlement, there will be an increase of 30 bps in their funding fees to 3.6% for each of these groups.
  • The funding fees will revert to the current fee structure in January 2022 unless additional legislation is enacted.

As a Military Friendly® Brand, Caliber Home Loans, Inc. is committed to being a trusted resource in meeting the specific mortgage needs of the brave men and women of the United States Armed Forces who serve, or have served our country with resolute sacrifice. This is a positive change for the VA loan program. We look forward to helping even more of these brave men and women take advantage of the VA loan benefit they have so valiantly earned.

Guest post by:
Christina Wieser
Team Loan Consultant, Caliber Home Loans

Direct: 253-267-7813
NMLS ID #413896
6050 Tacoma Mall Boulevard, Suite 200
Tacoma, WA 98409

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