New Law Removes Cap Limits on VA Loans

Pres. Trump signed a bill Tuesday that, among other things, expands VA loans for veterans. VA loans have helped raise the veteran ownership rate to 75%.

WASHINGTON  – The National Association of Realtors (NAR) commended Congressional and White House efforts to protect the VA Home Loan Program after the Blue Water Navy Vietnam Veterans Act was signed into law by President Trump on Tuesday night.

The Act, H.R. 299, eliminates the cap on home loans issued by the Department of Veterans Affairs, and was unanimously passed by the Senate earlier this month after a federal court ruled the VA is required to provide health coverage to veterans exposed to the chemical known as “agent orange” during the Vietnam War. NAR says that Realtors secured a victory in the bill by limiting proposed VA home loan fee increases.

Source: © Copyright 2019 INFORMATION INC., Bethesda, MD (301) 215-4688

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