The amount of money you can borrow using a tradition loan backed by government lenders Freddie Mac and Fannie Mae has hit $1 million for the first time in the programs history. As reported in this article from The Daily Mail, Fannie Mae and Freddie Mac have always had a ceiling in place regarding the value of home loans they …
What Exactly is a VA Loan?
When we talk about mortgage loans, most buyers are familiar with terms like Fannie Mae and Freddie Mac, which refer to the most common types of conventional loans that are available to the majority of buyers. There are other government backed loans out there though, such as ones backed by the US Department of Agriculture (USDA loans, more common in …