Mortgage Info for Homes and Small Business Financing

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2013 VA Mortgage Limits Increase for Northern Virginia

The Department of Veterans Affairs has announced that $843,750 is the new increased guaranteed 2013 VA mortgage limit for Northern Virginia starting in 2013. The Department of Veterans Affairs (VA) Loan Guaranty program does not set a maximum amount that an eligible veteran may borrow using a VA guaranteed mortgage.  However, the county “limits” must… Continue Reading

Large Deposits Get New Definition | Underwriting Loosens Up

“A ‘large deposit’ is now defined as a single deposit that exceeds 25% of the total monthly qualifying income.  No further explanation is required if a direct deposit can easily be identified as payroll, Social Security income, income tax refund, etc.  This is effective on all new loans and loans in the pipeline!” This is… Continue Reading

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