VA does not set a cap on how much you can borrow to finance your home. However, there are limits on the amount of liability VA can assume, which usually affects the amount of money an institution will lend you. The loan limits are the amount a qualified Veteran with full entitlement may be able to borrow without making a downpayment. These loan limits vary by county, since the value of a house depends in part on its location.
The basic entitlement available to each eligible Veteran is $36,000. Lenders will generally loan up to 4 times a Veteran’s available entitlement without a down payment, provided the Veteran is income and credit qualified and the property appraises for the asking price.
VA county loan limit:
- VA’s 2019 Loan Limits are the same as the Federal Housing Finance Agency’s limits – 2019 Loan Limits (Effective January 1, 2019).
For purposes of determining the VA guaranty, lenders are instructed to reference only the One-Unit Limit column in the FHFA Table “Fannie Mae and Freddie Mac Maximum Loan Limits for Mortgages Acquired in Calendar Year 2018 and Originated after 10/1/2011 or before 7/1/2007”.2018 Loan Limits are found at this link by scrolling down to the table under “Previous Announced Loan Limits” and referring only to the One-Unit Limit column.
- 2017 Loan Limits are found at this link by scrolling down to the table under “Previous Announced Loan Limits” and referring only to the One-Unit Limit column.
- 2016 Loan Limits are found at this link by scrolling down to the table under “Previous Announced Loan Limits” and referring only to the One-Unit Limit column.
- Maximum Guaranty Loan Limits for February 28, 2014 to December 31, 2014
- Maximum Guaranty Loan Limits for January 1, 2014 to February 27, 2014
- 2013 Loan Limits
- Maximum Guaranty Limits for August 6, 2012 to December 31, 2012
- Maximum Guaranty Limits for January 1, 2012 to August 5, 2012
- Maximum Guaranty Limits – October 1, 2011 through December 31, 2011
- 2011 Loan Limits
- 2010 Loan Limits
- 2009 Loan Limits
- 2008 Loan Limits
- Guaranty Calculation Examples – Review these common situations to see how a VA-guaranteed loan limit is calculated
Veterans who had a VA loan before may still have “remaining entitlement” to use for another VA loan. Most lenders require that a combination of the guaranty entitlement and any cash down payment must equal at least 25 percent of the reasonable value or sales price of the property, whichever is less. Thus, for example, $23,500 remaining entitlement would probably meet a lender’s minimum guaranty requirement for a no-down payment loan to buy a property valued at and selling for $94,000. You could also combine a down payment with the remaining entitlement for a larger loan amount.