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Loan Limits

VA does not limit how much you can borrow from your lender to finance a home.  Effective January 1, 2020, there are no county loan limits for Veterans with full VA home loan entitlement.  

However, county loan limits still apply to Veterans who have previously used, and not restored, their VA home loan entitlement to purchase, refinance, or construct a home above $144,000.

Your entitlement can only be restored when the property is sold, or the loan is paid-in-full.  If you want to purchase another home without fulfilling these criteria, VA will only guarantee your total outstanding loan amount up to the county loan limit of the home you wish to purchase next. (see Remaining Entitlement section below)

VA county loan limit:

  • VA's 2020 Loan Limits are the same as the Federal Housing Finance Agency's limits - 2020 Loan Limits (Effective January 1, 2020).
    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 2020 and Originated after 10/1/2011 or before 7/1/2007”.
  • Historical Loan Limits are found here by scrolling down to the table under “Previous Announced Loan Limits” and referring only to the One-Unit Limit column.
  • Guaranty Calculation Examples - Review these common situations to see how your remaining entitlement, county loan limit, and loan amount, can impact your purchase decision.

 

Remaining Entitlement

If you currently have a VA home loan, you may request a COE to determine whether you are eligible to purchase your next home using the VA home loan benefit.  Remaining entitlement available to those who have previously used their VA home loan benefit, is 25 percent of the county loan limit reduced by the amount of entitlement previously used and not restored.  Just as the first use of the VA loan, you are required to make this home your residence when purchasing a home with remaining or restored entitlement.   Examples of how to calculate remaining entitlement can be found here.

External Link Disclaimer: This page contains links that will take you outside of the Department of Veterans Affairs website. VA does not endorse and is not responsible for the content of the linked websites.

 

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