VA loans are available up to $647,200 in most areas but can exceed $900,000 for single-family homes in high-cost counties. Calculate your VA loan limit to see your personalized loan limits don't apply to all borrowers.
Your VA loan limit — or how much you can borrow without making a down payment — is directly based on your entitlement. In many cases, you may have no limit whatsoever.
Here’s what you need to know about calculating your VA mortgage limits and how they may apply to you.
As of 2020, there is no limit on how much can be borrowed if you have full entitlement. Instead, VA loan limits mark how much you can borrow without a down payment in the event you don’t have your full VA loan entitlement available.
If you have a reduced or diminished entitlement, your zero-down buying power will be impacted by the VA’s county-level loan limits. Lenders will review your Certificate of Eligibility to help calculate your remaining entitlement and how much you can borrow before needing to make a down payment.
While the VA doesn’t limit how much you can borrow, your available VA entitlement can.
VA loan limits may apply when:
As long as you have your full entitlement (this would be noted on your Certificate of Eligibility), the VA will back a quarter of your loan amount, with no limits.
If you have less-than-full entitlement, on the other hand, there will be a limit on how much you can borrow without a down payment. These limits will depend on the conforming loan limits for your county.
For Veterans with partial entitlement, calculating your loan limit is an important step in the homebuying journey. Use the calculator below to determine your VA loan limit by typing in your city or zip code.
If you have reduced entitlement, then a VA loan limit will apply. To determine yours, you’ll need to find out the conforming loan limit for the county you’re buying in. This amount — which varies from $647,200 to $970,800 for a single-family home — helps determine how much you can borrow before needing a down payment.
Keep in mind: Loan limits are higher in pricier housing markets and lower in more affordable areas.
The VA loan limits have never represented a cap on borrowing. Veterans with diminished entitlement can still borrow above their county’s loan limit. With any second-tier entitlement purchase, Veterans buying above where their entitlement maxes out will need to make a down payment.
VA loan limits and entitlements are pretty confusing topics, so let’s look at a real-life example.
Let’s say Sam is already using $50,000 of his VA loan entitlement but wants to use the remaining entitlement to purchase another property. In his county, the conforming loan limit is $647,200. Since the VA will guarantee a quarter of that amount ($647,200 / 4), he has a maximum entitlement of $161,800.
When you subtract the amount Sam has already used ($161,800 - $50,000), you get $111,800, giving him a VA loan limit of $447,200 ($111,800 x 4).
If he were to purchase a home priced higher than that $447,200, he would need to make a down payment worth at least a quarter of the difference. On a $500,000 home, for example, that would mean a down payment of $13,200 ($500,000 - $447,200 / 4).