Yesterday I posted some information about the new conforming limits for FHA loans in certain, high-priced counties. Today in the Washington Post (March 8, 2008), it was revealed that the new limits do not extend to Veterans Administration loans. This was a surprise for many veterans, as well as many of us in the Real Estate industry. I hope that this was an oversight which will be quickly corrected by the government. Since VA loans are intended to help those who have served our country, it seems unfair to penalize them by not making the conforming loan limit equal to other loans that are available. In the past the ceiling of $417,00 was applicable to both VA and non-VA loans.
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