Sound Mortgage Planning Blog

On October 10th, 2008, the President signed Public Law 110-389, the Veteran's Benefit Improvement act of 2008.

Highlights include:

• Extension of VA ARMs--extends the guaranty of ARMs through September 20, 2012

MOST IMPORTANT, after many years of being behind the times:

• Enhancement of regular refinancing loans, effective immediately, the max guaranty amount for regular refinance loans is the same as purchase loans. That means loan amounts of up to $417,000 for a refinance.
• Refinance loans are now available up to 100% of the appraised value of a home (previously 90%)

These enhancements are for rate and term refinancing AND cash-out refinancing!

Call me today to take advantage of the new VA benefit enhancement!

Shawn Anderson-(360) 402-0308