The House of Representatives recently passed a bill allowing veterans and military personnel to qualify for no-down payment mortgages matching the current Fannie Mae and Freddie Mac conforming limits. Analysts said that the legislation (S. 2486) - which officials expect to boost the Department of Veterans Administration's VA program - could drive volume in some high-cost regions but would only slightly impact Ginnie Mae issuance.
The VA bill - which the Senate previously approved - lets veterans apply for loans of up to $333,700. The VA loan limit is now $240,000. The House vote clears the measure for a presidential signature.