On January 1, 2020, the Blue Water Navy Vietnam Veterans Act of 2019 was put into effect. As a result, this act will impact VA loan limits and VA loan funding fees. Mortgage and homebuying journalist Chris Birk explains that “veterans with full loan entitlement can now borrow the full loan amount without needing to factor in a down payment” creating opportunities for veteran and military homebuyers. He also includes other benefits such as no private mortgage insurance (PMI) and favorable interest rates. Although the act makes changes to increase the VA Funding Fee, not all of these changes will remain permanent.
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