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New York VA Loans

Deciding to purchase a house in New York is a huge financial decision, but with the unique benefits provided by the VA loan, your dream of homeownership just got that much easier.

Published on January 7, 2021

With the average listing price of a home in New York landing at $1,128,485, the VA loan’s signature $0-money-down benefit is a considerable advantage for New York homebuyers.

See also: VA Loan Options for Other States

How to get a VA Loan in New York

VA loans are made by private lenders and guaranteed by the Department of Veterans Affairs. Because private lenders make the loans and not the VA, you need to find a lender licensed in the state you plan to purchase or refinance.

For example, if you're purchasing a home in Albany, NY, you'll need to find a lender licensed in New York to do the loan.

Our Lender
Veterans United Home Loans is a VA approved lender; Mortgage Research Center, LLC – NMLS #1907 (www.nmlsconsumeraccess.org). Not affiliated with the Dept. of Veterans Affairs or any government agency. Not available in NV. 1400 Veterans United Dr., Columbia, MO 65203. Equal Housing Lender

Other Considerations for Getting a VA Loan in New York

VA borrowers in New York should also consider the cost and impact of VA loan limits and property taxes when making their home purchase.

New York VA Loan Limits

As of January 1, 2020, VA borrowers in New York with their full VA loan entitlement are not restricted by VA loan limits. This means you can borrow as much as a lender is willing to lend without needing a down payment.

However, veterans without their full VA loan entitlement are still bound to New York’s VA loan limits.

New York VA Loan Limits by County

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County Loan Limit
Bronx $822,375
Dutchess $726,525
Kings $822,375
Nassau $822,375
New York $822,375
Orange $726,525
Putnam $822,375
Queens $822,375
Richmond $822,375
Rockland $822,375
Suffolk $822,375
Westchester $822,375
All other areas $548,250

Property Taxes in New York

Another consideration for VA buyers in New York is property taxes. For certain VA buyers, there are exemptions.

You may be eligible for a property tax exemption in New York if you meet one of the following conditions:

  • A disabled veteran may receive an exemption based on the type of service, disability as determined by the New York State Division of Veterans Affairs, and the value of the exemption as determined by the county or municipality.

If you are required to pay property tax in New York, the American Community Survey by the U.S. Census Bureau estimates you may pay the following in each county:

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County Property Tax Rate
Albany 2.10%
Allegany 3.27%
Bronx 0.98%
Broome 2.77%
Cattaraugus 3.14%
Cayuga 2.48%
Chautauqua 2.87%
Chemung 2.63%
Chenango 2.62%
Clinton 2.04%
Columbia 1.93%
Cortland 3.15%
Delaware 2.01%
Dutchess 2.23%
Erie 2.58%
Essex 1.74%
Franklin 2.14%
Fulton 2.53%
Genesee 2.81%
Greene 1.80%
Hamilton 1.12%
Herkimer 2.57%
Jefferson 1.66%
Kings 0.66%
Lewis 1.88%
Livingston 2.83%
Madison 2.53%
Monroe 3.22%
Montgomery 3.19%
Nassau 2.11% (approx.)
New York 0.95%
Niagara 2.91%
Oneida 2.56%
Onondaga 2.80%
Ontario 2.41%
Orange 2.56%
Orleans 3.49%
Oswego 2.84%
Otsego 1.87%
Putnam 2.63%
Queens 0.88%
Rensselaer 2.48%
Richmond 0.92%
Rockland 2.30% (approx.)
Saratoga 1.63%
Schenectady 2.88%
Schoharie 2.32%
Shuyler 2.29%
Seneca 2.79%
St. Lawrence 2.54%
Steuben 2.75%
Suffolk 2.37%
Sullivan 2.63%
Tioga 2.62%
Tompkins 2.50%
Ulster 2.40%
Warren 1.65%
Washington 2.25%
Wayne 2.93%
Westchester 1.89%
Wyoming 2.82%
Yates 2.16%

How VA Loans Work in New York

View the graphic below to learn more about how VA loans work in New York.

How New York VA Loans work How New York VA Loans work How New York VA Loans work
START HERE: $0 Down VA Home Loans
Our Lender
Veterans United Home Loans is a VA approved lender; Mortgage Research Center, LLC – NMLS #1907 (www.nmlsconsumeraccess.org). Not affiliated with the Dept. of Veterans Affairs or any government agency. Not available in NV. 1400 Veterans United Dr., Columbia, MO 65203. Equal Housing Lender