VA Loan Limits – How Much House Can You Buy with a VA Loan?

VA Loan limits increased in 2017, the first increase since 2006.The new maximum loan guarantee is $424,100 in most counties....

VA Loan limits increased in 2017, the first increase since 2006. The new maximum loan guarantee is $424,100 in most counties. The loan limit is higher in some high-cost counties. These higher loan limits vary by region and are listed later in this article. The VA Loan limits are the same as the conforming mortgage loan limits determined by the Federal Housing Finance Agency (FHFA), and the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac.

These new loan limits apply to all VA Loans closed after January 1, 2017.

Read through this article to get a full understanding of VA Loan limits, the maximum amount you can borrow without a down payment, which high-cost counties have higher limits, and other information you may need to know to secure a VA Loan.

VA Loan Limits

Importance of the VA Loan Limits

The VA Loan limits aren’t necessarily a hard limit on how much house you can buy with a VA Loan. The limits only apply to the portion of the loan the VA will guarantee.

The limits also apply to how much money qualified buyers can borrow without making a downpayment. You can buy a more expensive home, but most lenders will require you to make a downpayment to bring the borrowed amount in line with the guaranty limit.

In most counties, that limit is $424,100. But the limits in high-cost counties can go as high as $636,150 in the Continental US, and as high as $721,050 in some areas of Hawaii.

VA Loan Limits & What Lenders Will Actually Lend

Most military members and veterans are eligible for a basic VA Loan entitlement, which amounts to $36,000. Lenders will normally allow veterans to borrow up to 4 times the basic entitlement ($144,000) without a down payment, provided they have the income and credit to qualify for the loan, and provided the property appraises for at least the purchase price. The VA will guaranty the full loan up to $144,000.

The maximum guaranty for VA loans over $144,000 is up to 25 percent of the county loan limit. The lowest county limit is $424,100. The high-cost county limits are listed in the table further down the article. The VA will guarantee loans up to 25 percent of the loan amount.

This means that if your home costs more than $144,000, the VA will only guaranty 25% of the loan, up to the $424,100 limit, or the limit for high-cost counties. The guaranty makes these types of loans more attractive to the lender, which in turn, may help the borrower obtain favorable loan rates.

How to Buy a House that Costs More than the Max VA Loan Guaranty

If you want to use the VA Loan to buy a house that costs more than $144,000, you may need to put make a down payment on the loan. The amount of the down payment will depend on your lender’s policies, the cost of your home, the amount you are borrowing, your income, credit profile, debt to income ratio, and other factors.

If you want to buy a home that costs more than the loan guaranty, you would need to make a downpayment, usually of 25% of the amount above the VA Loan limit.

For example, if you want to buy a home that costs $524,100 in a county with a loan limit of $424,100, you would likely need to make a $25,000 downpayment (25% of $100,000, or the difference above the loan limit). This assumes you have the full remaining entitlement to your VA Loan. You may have to restore your VA Loan Entitlement if you have previously used your VA Loan.

Larger downpayments may be a good idea: You can always make a larger down payment if you have the available funds, and there are some benefits to doing so. For example, a larger down payment reduces your outstanding balance on your home, reduces your monthly payments, and reduces the amount of interest you pay over the life of the loan.

Additional Loan Costs to Consider: You still may need to come up with the VA loan funding fee, which the VA charges for guaranteeing your loan. However, some disabled veterans are eligible to have the funding fee waived. Alternatively, you can often roll the funding fee into your loan.

Why Use a VA Loan if Your Home Costs More than The VA Will Guaranty?

This is a great question and there are several good reasons to apply for a VA Loan. The first is that you may be able to buy a home with a lower downpayment than you would be able to buy with a conventional mortgage, unless you are willing to pay Private Mortgage Insurance (PMI) which may add a fairly substantial amount to your monthly payment.

Interest rates are another important factor in your decision. Because VA loans are guaranteed by the VA, they often have slightly lower interest rates than conventional loans (all things being equal, including credit score, income, assets, debt to income ratio, etc.).

That said, it pays to shop around. A mortgage is often the largest purchase you will ever make, and even a few decimal points on your interest rate can save you a substantial amount of money, or cost you thousands over the life of your loan.

If you are interested in finding the best interest rates, you can view our list of VA Loan providers to shop and compare interest rates.

VA Loan Limits for High-Cost Counties

Below is the table for VA Loan limits for 2017. The VA bases these amounts on the county median home values reported by the Federal Housing Administration.

NOTE: For all counties not listed below, the limit is $424,100. See below the table for the Regional Loan Center physical and mailing addresses and contact information.

STATE COUNTY 2017 VA LOAN LIMIT REGIONAL LOAN CENTER
Alaska Aleutians East $636,150 Denver
Alaska Aleutians West $636,150 Denver
Alaska Anchorage $636,150 Denver
Alaska Bethel $636,150 Denver
Alaska Bristol Bay $636,150 Denver
Alaska Denali $636,150 Denver
Alaska Dillingham $636,150 Denver
Alaska Fairbanks North $636,150 Denver
Alaska Haines $636,150 Denver
Alaska Hoonah-Angoon $636,150 Denver
Alaska Juneau $636,150 Denver
Alaska Kenai Peninsula $636,150 Denver
Alaska Ketchikan Gateway $636,150 Denver
Alaska Kodiak Island $636,150 Denver
Alaska Kusilvak Census Area $636,150 Denver
Alaska Lake And Peninsula $636,150 Denver
Alaska Matanuska-Susitna $636,150 Denver
Alaska Nome $636,150 Denver
Alaska North Slope $636,150 Denver
Alaska Northwest Arctic $636,150 Denver
Alaska Petersburg Census Area $636,150 Denver
Alaska Prince Of Wales-Hyder $636,150 Denver
Alaska Sitka $636,150 Denver
Alaska Skagway Municipality $636,150 Denver
Alaska Southeast Fairbanks $636,150 Denver
Alaska Valdez-Cordova $636,150 Denver
Alaska Wrangell City/Borough $636,150 Denver
Alaska Yakutat City $636,150 Denver
Alaska Yukon-Koyukuk $636,150 Denver
California Alameda $636,150 Phoenix
California Alpine $463,450 Phoenix
California Contra Costa $636,150 Phoenix
California El Dorado $488,750 Phoenix
California Los Angeles $636,150 Phoenix
California Marin $636,150 Phoenix
California Mono $529,000 Phoenix
California Monterey $575,000 Phoenix
California Napa $636,150 Phoenix
California Nevada $477,250 Phoenix
California Orange $636,150 Phoenix
California Placer $488,750 Phoenix
California Sacramento $488,750 Phoenix
California San Benito $636,150 Phoenix
California San Diego $612,950 Phoenix
California San Francisco $636,150 Phoenix
California San Luis Obispo $586,600 Phoenix
California San Mateo $636,150 Phoenix
California Santa Barbara $636,150 Phoenix
California Santa Clara $636,150 Phoenix
California Santa Cruz $636,150 Phoenix
California Solano $431,250 Phoenix
California Sonoma $595,700 Phoenix
California Ventura $636,150 Phoenix
California Yolo $488,750 Phoenix
Colorado Adams $493,350 Denver
Colorado Arapahoe $493,350 Denver
Colorado Boulder $529,000 Denver
Colorado Broomfield $493,350 Denver
Colorado Clear Creek $493,350 Denver
Colorado Denver $493,350 Denver
Colorado Douglas $493,350 Denver
Colorado Eagle $636,150 Denver
Colorado Elbert $493,350 Denver
Colorado Garfield $636,150 Denver
Colorado Gilpin $493,350 Denver
Colorado Hinsdale $427,800 Denver
Colorado Jefferson $493,350 Denver
Colorado Lake $625,500 Denver
Colorado Ouray $425,500 Denver
Colorado Park $493,350 Denver
Colorado Pitkin $636,150 Denver
Colorado Routt $625,500 Denver
Colorado San Miguel $625,500 Denver
Colorado Summit $625,500 Denver
Connecticut Fairfield $601,450 Cleveland
District of Columbia District Of Columbia $636,150 Roanoke
Florida Collier $450,800 St. Petersburg
Florida Monroe $529,000 St. Petersburg
Georgia Greene $515,200 Atlanta
Guam Guam $636,150 Honolulu
Hawaii Hawaii $636,150 Honolulu
Hawaii Honolulu $721,050 Honolulu
Hawaii Kalawao $657,800 Honolulu
Hawaii Kauai $713,000 Honolulu
Hawaii Maui $657,800 Honolulu
Idaho Blaine $625,500 Denver
Idaho Camas $625,500 Denver
Idaho Lincoln $625,500 Denver
Idaho Teton $636,150 Denver
Maryland Anne Arundel $517,500 Roanoke
Maryland Baltimore $517,500 Roanoke
Maryland Baltimore City $517,500 Roanoke
Maryland Calvert $636,150 Roanoke
Maryland Carroll $517,500 Roanoke
Maryland Charles $636,150 Roanoke
Maryland Frederick $636,150 Roanoke
Maryland Harford $517,500 Roanoke
Maryland Howard $517,500 Roanoke
Maryland Montgomery $636,150 Roanoke
Maryland Prince George'S $636,150 Roanoke
Maryland Queen Anne'S $517,500 Roanoke
Massachusetts Bristol $426,650 Cleveland
Massachusetts Dukes $636,150 Cleveland
Massachusetts Essex $598,000 Cleveland
Massachusetts Middlesex $598,000 Cleveland
Massachusetts Nantucket $636,150 Cleveland
Massachusetts Norfolk $598,000 Cleveland
Massachusetts Plymouth $598,000 Cleveland
Massachusetts Suffolk $598,000 Cleveland
Nebraska Lincoln $433,660 St. Paul
Nebraska Logan $433,660 St. Paul
Nebraska Mcpherson $433,660 St. Paul
New Hampshire Rockingham $598,000 Cleveland
New Hampshire Strafford $598,000 Cleveland
New Jersey Bergen $636,150 Cleveland
New Jersey Essex $636,150 Cleveland
New Jersey Hudson $636,150 Cleveland
New Jersey Hunterdon $636,150 Cleveland
New Jersey Middlesex $636,150 Cleveland
New Jersey Monmouth $636,150 Cleveland
New Jersey Morris $636,150 Cleveland
New Jersey Ocean $636,150 Cleveland
New Jersey Passaic $636,150 Cleveland
New Jersey Somerset $636,150 Cleveland
New Jersey Sussex $636,150 Cleveland
New Jersey Union $636,150 Cleveland
New York Bronx $636,150 Cleveland
New York Dutchess $636,150 Cleveland
New York Kings $636,150 Cleveland
New York Nassau $636,150 Cleveland
New York New York $636,150 Cleveland
New York Orange $636,150 Cleveland
New York Putnam $636,150 Cleveland
New York Queens $636,150 Cleveland
New York Richmond $636,150 Cleveland
New York Rockland $636,150 Cleveland
New York Suffolk $636,150 Cleveland
New York Westchester $636,150 Cleveland
North Carolina Camden $625,500 Atlanta
North Carolina Currituck $458,850 Atlanta
North Carolina Gates $458,850 Atlanta
North Carolina Hyde $483,000 Atlanta
North Carolina Pasquotank $625,500 Atlanta
North Carolina Perquimans $625,500 Atlanta
Northern Mariana Islands Northern Island $524,400 Honolulu
Northern Mariana Islands Saipan $529,000 Honolulu
Northern Mariana Islands Tinian $532,450 Honolulu
Pennsylvania Pike $636,150 Cleveland
Rhode Island Bristol $426,650 Cleveland
Rhode Island Kent $426,650 Cleveland
Rhode Island Newport $426,650 Cleveland
Rhode Island Providence $426,650 Cleveland
Rhode Island Washington $426,650 Cleveland
Tennesee Cannon $466,900 Roanoke
Tennesee Cheatham $466,900 Roanoke
Tennesee Davidson $466,900 Roanoke
Tennesee Dickson $466,900 Roanoke
Tennesee Hickman $466,900 Roanoke
Tennesee Macon $466,900 Roanoke
Tennesee Maury $466,900 Roanoke
Tennesee Robertson $466,900 Roanoke
Tennesee Rutherford $466,900 Roanoke
Tennesee Smith $466,900 Roanoke
Tennesee Sumner $466,900 Roanoke
Tennesee Trousdale $466,900 Roanoke
Tennesee Williamson $466,900 Roanoke
Tennesee Wilson $466,900 Roanoke
Utah Salt Lake $600,300 Denver
Utah Summit $636,150 Denver
Utah Tooele $600,300 Denver
Virgin Islands St. Croix $636,150 St. Petersburg
Virgin Islands St. John $636,150 St. Petersburg
Virgin Islands St. Thomas $636,150 St. Petersburg
Virginia Albemarle $437,000 Roanoke
Virginia Alexandria $636,150 Roanoke
Virginia Amelia $535,900 Roanoke
Virginia Arlington $636,150 Roanoke
Virginia Buckingham $437,500 Roanoke
Virginia Caroline $535,900 Roanoke
Virginia Charles City $535,900 Roanoke
Virginia Charlottesville $437,000 Roanoke
Virginia Chesapeake $458,850 Roanoke
Virginia Chesterfield $535,900 Roanoke
Virginia Clarke $636,150 Roanoke
Virginia Colonial Heights $535,900 Roanoke
Virginia Culpeper $636,150 Roanoke
Virginia Cumberland $535,900 Roanoke
Virginia Dinwiddie $535,900 Roanoke
Virginia Fairfax $636,150 Roanoke
Virginia Fairfax Independent City $636,150 Roanoke
Virginia Falls Church $636,150 Roanoke
Virginia Fauquier $636,150 Roanoke
Virginia Fluvanna $458,850 Roanoke
Virginia Fredericksburg $636,150 Roanoke
Virginia Gloucester $458,850 Roanoke
Virginia Goochland $535,900 Roanoke
Virginia Greene $437,000 Roanoke
Virginia Hampton $458,850 Roanoke
Virginia Hanover $535,900 Roanoke
Virginia Henrico $535,900 Roanoke
Virginia Hopewell $535,900 Roanoke
Virginia Isle Of Wight $458,850 Roanoke
Virginia James City $458,850 Roanoke
Virginia King And Queen $535,900 Roanoke
Virginia King William $535,900 Roanoke
Virginia Lancaster $442,750 Roanoke
Virginia Loudoun $636,150 Roanoke
Virginia Louisa $535,900 Roanoke
Virginia Manassas $636,150 Roanoke
Virginia Manassas Park $636,150 Roanoke
Virginia Mathews $458,850 Roanoke
Virginia Nelson $437,000 Roanoke
Virginia New Kent $535,900 Roanoke
Virginia Newport News $458,850 Roanoke
Virginia Norfolk $458,850 Roanoke
Virginia Petersburg $535,900 Roanoke
Virginia Poquoson $458,850 Roanoke
Virginia Portsmouth $458,850 Roanoke
Virginia Powhatan $535,900 Roanoke
Virginia Prince George $535,900 Roanoke
Virginia Prince William $636,150 Roanoke
Virginia Rappahannock $636,150 Roanoke
Virginia Richmond Independent City $535,900 Roanoke
Virginia Spotsylvania $636,150 Roanoke
Virginia Stafford $636,150 Roanoke
Virginia Suffolk $458,850 Roanoke
Virginia Surry $458,850 Roanoke
Virginia Sussex $535,900 Roanoke
Virginia Virginia Beach $458,850 Roanoke
Virginia Warren $636,150 Roanoke
Virginia Williamsburg $458,850 Roanoke
Virginia York $458,850 Roanoke
Washington King $592,250 Denver
Washington Pierce $592,250 Denver
Washington San Juan $483,000 Denver
Washington Snohomish $592,250 Denver
West Virginia Jefferson $636,150 Roanoke
Wyoming Teton $636,150 Denver

Shop around to save thousands: As mentioned above, shaving a couple percentage points off your VA loan can save you thousands of dollars over the course of your loan. You can interest rates, you can view our list of VA Loan providers to shop and compare interest rates.

VA Regional Loan Centers & Contact Information

Cleveland Department of Veterans Affairs
VA Regional Loan Center
1240 East Ninth Street
Cleveland, OH 44199

Denver Department of Veterans Affairs
VA Regional Loan Center
155 Van Gordon Street
Lakewood, CO 80228
(Mailing Address: Box 25126, Denver, CO 80225)

Honolulu Department of Veterans Affairs
VA Regional Office
Loan Guaranty Division (26)
459 Patterson Rd.
Honolulu, HI 96819
*Note: This office is not technically a Regional Loan Center. However, they manage the VA Loan Guaranty program in Hawaii.

Phoenix Department of Veterans Affairs
VA Regional Loan Center
3333 N. Central Avenue
Phoenix, AZ 85012-2402

Roanoke Department of Veterans Affairs
VA Regional Loan Center
210 First Street
Roanoke, VA 24011
(Mailing Address: 116 N. Jefferson Street,Roanoke, VA 24016)

St. Paul Department of Veterans Affairs
VA Regional Loan Center
1 Federal Drive, Ft. Snelling.
St. Paul, MN 55111
(Mailing Address: P.O. Box 1437, St. Petersburg, FL 33731)

St. Petersburg Department of Veterans Affairs
VA Regional Loan Center
9500 Bay Pines Blvd.
St. Petersburg, FL 33708
(Mailing Address: P.O. Box 1437, St. Petersburg, FL 33731)

Related posts:2009 Veteran's Day DiscountsVA Loan Eligibility and Financing VA Assists Vets with Mortgage Problems Benefit Financially through a VA Home Loan

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