• EXPERIENCE MATTERS: With over 50-years combined lending experience, Joe and Eric Metzler are your VA home loan experts.
  • What Are the VA Loan Limits

    When getting a VA mortgage loan, it can be a bit confusing if there is a cap, or maximum VA Loan Limit.

    The answer is yes, no, and maybe.

    Years ago, the was an official loan limit cap for zero down VA home loans. Above that cap, a small down payment was required, with a complicated formula to determine the amount of the down payment.

    Today, VA loans do NOT have an official loan amount cap, but while the US Department of Veteran Affairs does not set a any limit on VA Home Loans – most lenders do set limits and those VA Home Loan. Those limits typically match Conforming Loan Limits.  Conforming loans are those typically purchased after closing from your lender by Freddie Mae and Fannie Mae.  These loan limits change each year.

    As of January 202, the limit in most states we lend, (Minnesota, Colorado, Iowa, North Dakota, South Dakota, and Florida) is equal to the current conforming limit of $765,550 for a single family home, and higher for multi-unit homes.

    Next, there used to be a maximum loan amount cap for a veteran do do a no down payment loan.  Over this limit, a VA loan needed a small down payment.  That rule has gone away, but again, so many VA lenders will impose their own overlay, and potentially require a down payment on large jumbo loans.

    Finally, there is your personal VA eligibility to consider.  If you have an existing VA loan that you will be keeping, this can lower the maximum new VA loan you can qualify.

    Sound confusing? Like all things military, it can be. But don’t worry.  Our expert VA Loan Officers can guide you.  Simply reach out to us at (651) 552-3681, and we’ll review your personal situation to get your correct answer.  Better yet, simply complete the Online VA loan Application found on this website.  APPLY ONLINE.