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Manasseh Arnold
Pro Member
  • Rental Property Investor
  • Latham, NY
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74
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Tax cap: why did my lender say only up to 6k?

Manasseh Arnold
Pro Member
  • Rental Property Investor
  • Latham, NY
Posted Jul 10 2020, 12:37

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

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