Help for Subprime Loans

Week of November 17, 2008

As a result of the U.S. financial crisis, the Department of Veterans Affairs (VA) will now guarantee subprime loans. Veterans who wish to refinance may now do so for up to 100 percent of the value of their property. The 100 percent refinance option also applies to standard loans - previously set at 90 percent of the property value. The new law also raised the maximum loan amount for these types of refinancing loans, which were capped at $144,000, to $729,750 depending on where the property is located. For more information, or to obtain help from a VA Loan specialist, call VA at 1-877-827-3702 or visit VA's Loan Guaranty website. Learn more about the VA mortage options.

Purchasing a new home or refinancing? - Take advantage of your VA loan benefit and get matched with lenders.