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  • 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.

    The US Department of Veteran Affairs does not set a limit for VA Home Loans – most lenders do set limits and those VA Home Loan 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 the date of this article, Sept 12, 2022, the limit in the states we offer VA loans in of Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota, the current conforming limit is $647,200 for a single family home. Check with your Cambria Mortgage VA loan expert for the current loan limit.

    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 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.