VA Loan Limits

VA Loan limits by county no longer apply to Veterans and Active Duty military members who have their Full VA loan entitlement.

In the past there were limits on how much you could borrow based off of what county you lived in, but recently the VA changed their rules and no longer require a down payment for anything over the VA loan limits. Now those limits only apply to people trying to have two VA loans at the same time, or to those who have defaulted on a VA loan in the past, and lost part of their entitlement.

About VA Loan Limits

VA loan limits are not a cap on how much you can borrow nor are they the maximum you can get for a VA loan. Veterans with full entitlement can get as much as a lender is willing to lend them without a down payment. We can offer loan amounts up to $3 million dollars with nothing down, assuming you can qualify for the loan. There is also no limit on the amount of cash you can take out in a VA refinance.

VA loan limits increased in 2022 from $548,250 in 2021 to $647,200 this year.

VA Loan limits also went up in high cost counties, maxing out at $970,800 in the most expensive areas for a single family home.

Calculating your Entitlement for a Second Home or with reduced entitlement

Lets assume you have purchased a home in a standard county ($647,200 loan limit) and you are currently using $50,000 if your entitlement, and would like to purchase a new home in the same area, so you can rent out the old one as an investment property.

The VA guarantees a quarter of the loan amount, so the maximum entitlement that you have in this county is $161,800 ($647,200 divided by 4).

To calculate your remaining entitlement, take that number and subtract out how much how much you have used or $161,800- $50,000 = $111,800 in remaining entitlement

Then to calculate how much you can take out with no down payment, you would take your remaining entitlement and multiply it by 4 to give you your no down payment loan amount or $447,200

If you would like to purchase something over that amount, the VA would require a down payment of $0.25 for every dollar over that amount or 25% of the difference between your purchase price and that limit.

For example if you wanted to buy a home for $500,000, you would calculate your down payment requirement like this ($500,000 – $447,200 = $52,800 over limit)

52,800 x .25 = $13,200 down payment to be able to have both loans at the same time.

Get Pre-Approved in Minutes 

This calculation can be very confusing, so if you need help checking your remaining eligibility with the VA or figuring out how much you can qualify for, our VA loan experts can do the math for you and get you approved for a loan: