Tax cap: why did my lender say only up to 6k?
It's me again with another Newbie question...
I recently got approved for my first ever home loan it was a 0% down VA home loan of up to $275,000 and the lender said the taxes can only be up to $6,000.
Just curious as to why this is and what factors come Into play when accounting for how much is alloted for a "tax cap".
Is it my credit? The type of loan used?
Thanks BP!
-Manny