Home loan guaranty rises to $625,500
Is the Department of Veterans Affairs home loan guaranty still the same or has it gone up?
Answer: The Veterans Benefit Act of 2004 changed the maximum guaranty amount, for certain loans in excess of $144,000, to an amount equal to 25 percent of the Freddie Mac conforming loan limit. Effective Jan. 1, the Freddie Mac loan limit increased to $625,000 for first mortgages on single-family dwellings in Alaska, Hawaii, Guam and the U.S. Virgin Islands. Accordingly, the maximum guaranty, for loans closed after Jan. 1, will be 25 percent of that amount, or $156,375.
The bottom line is the VA Home Loan Guaranty amount has risen from $539,475 to $625,500. You can now seek to purchase a single-family home with no down payment, for up to $625,500. For additional information on a home loan guaranty, call the Honolulu VA at 1-808-433-0481 or visit the VA Web site at www.homeloans.va.gov.
Q: Does the VA have any tips for veterans who believe they may have glaucoma?
A: Glaucoma is the second-leading cause of blindness and the leading cause of blindness among African Americans. People with a higher risk of getting the disease include people over age 60, African Americans over the age of 40, people with a family history of glaucoma and people with diabetes mellitus. In the initial stages of glaucoma, you may see objects straight ahead clearly, but objects on the side may be fuzzy. As the disease progresses, you lose more side vision. Although open-angle glaucoma cannot be cured, it can usually be controlled with medication. For more information, call the VA Medical Center at 433-7605, visit online at www.va.gov, or call the VA at 1-800-827-1000.
If you have questions about your benefits as a veteran, call Fred Ballard at the Department of Veterans Affairs at 433-0049.
If you have questions about your benefits as a veteran, call Fred Ballard at the Veterans Affairs at 433-0049 or visit the VA Web site at www.va.gov/hawaii
or the Star-Bulletin at 529-4747.
Gregg K. Kakesako, who covers military affairs for the Star-Bulletin, can be reached by phone at 294-4075
or by e-mail at email@example.com