New Changes To VA Home Loan Limits Begin 01/01/2011

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) December 28, 2010 -- San Diego, California, USA - December 28, 2010 - Economic instability in the 2010 housing market has called for a need to adjust the $0 down VA Home Loan limit in over 173 counties, incorporated cities, and municipal designated areas.
Among the areas of note are San Diego, Los Angeles, and Orange County California. All of which received substantial increases with the government loan guarantee program. In 27 other areas, however, loan limits were adjusted downward.

The new limits should encourage further economic growth and continued stability in the form of first time home buyers' participation according to Philip D Georgiades of VA Home Loan Centers.

Mr Georgiades went on to say: "Although the tax credits for civilian first time home buyers are no longer available, certain Veterans returning from active duty deployment will receive an extension of the $8,000 credit until June 2011. Thus, the combination of the tax incentive extension and the new loan limits acting as a further enticement, we anticipate many returning veterans to take advantage of the loan program and own their piece of the homeland". "We look forward to helping our heroes buy at the bottom sector of the market".

Mr Georgiades has been advising on real estate matters for over 17 years and has observed the highs and lows of the real estate market. "I am optimistic about the housing market and strongly recommend that buyers take immediate advantage of the opportunities presented by low housing prices and low rates".
According to experts, the recent surge of foreclosures increases the overall inventory and raises the buyers chances of having a seller pay closing costs.

Philip D Georgiades is the Principal Economist and Chief Loan Steward of VA Home Loan Centers. For more information, visit http://www.vahomeloancenters.org

economic growth     economic indicators     govenrment     Home loan Products     home loans     home loans california     VA Home Loan     VA Home Loan programs