This past week, the President of the United States, signed legislation which would make it easier for Veterans’ who want to purchase a home and assist others who already own an existing home. Below, I have included three key terms that are included in this piece of legislation.
Veterans™ Benefits Improvement Act of 2008
1. This law will make the process of refinancing from sub-prime loans to safer more realistic loans backed by the VA, more attainable for Veterans.
2. Adjustable-rate mortgages can also be offered by the VA.
3. This law will allow an extension of the VA loan limit through 2011.