VA Loan Changes 2014 – Reviews The Differences

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A recent article posted on takes a look at the changes VA loan borrowers will face this year. is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. continues to support home buyers and loan borrowers with their recent guide on the VA loan changes 2014 will bring.

The Loan Love article says, “The calendar is pointing to a new year and along with it, some changes in loan programs for home owners. If you are planning to take advantage of a VA loan to purchase a home this year, it’s important to know whether any changes could affect your loan.” The article goes on to explain, “The biggest change for mortgages in 2014 is likely to have no impact on VA loans; However, a new class of loans, called Qualified Mortgages or QMs, has been created, along with a new regulatory body for oversight, the Consumer Financial Protection Bureau.”

Loan Love explains that while the requirements for QMs have gotten a lot of press recently, the changes to the qualified mortgage rule are not news to lenders, most of which have been operating as if the changes have been in effect for nearly a year already. However, there has been a lot of misinformation and confusion regarding the changes to these types of mortgages, and many service members and their families may wonder what these changes will mean for them. The VA loan changes guide explains, “The most important thing to know about QM requirements is that the VA loan program has long been following these guidelines, so VA borrowers should not anticipate any new bumps in the road.”

Loan Love also looks at the new VA loan limits for 2014. It says, “There are a few small changes for 2014 that may affect your VA loan, depending on your location. Although the standard limit for most counties across the nation remains at $417,000, just as it was in 2013, there are certain areas where the cost of living is particularly high that the VA has allowed higher loan limits.” The article also notes that while they are called “limits” this does not prevent VA borrowers from seeking loans outside these limits if they make a down payment.

Lastly the article reports that there will be no changes to the VA’s funding fee in 2014. It says, “The funding fee in 2014. remains at 2.15 percent for first time use, rising to 3.3 percent for subsequent use. You could be exempt from the funding fee if you are receiving compensation for a service-related disability or have otherwise been identified as having a disability due to your military service. Surviving spouses of veterans who died on active duty or from a service-related disability are also exempt from the funding fee.”

For more information on the new changes to the VA loan program, please click here to read the full article on

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Kevin Blue
Loan Love
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