VA Home Loan Limits and Qualifying
Videos feature Tim Lewis, VA Loan Team Manager, NMLS #157603.
What are the recent changes to VA limits and are they permanent?
Some people find it hard to keep up on VA mortgage limits because from time to time, the VA makes adjustments to the Program in response to circumstances dictated by the economy and other factors. In October 2008, the President signed the Veterans' Benefits Improvement Act of 2008. The law allows the limit on zero-money-down loans in qualified counties to increase up to $729,750 on VA loans closed through December 31, 2011. In fact, the VA sets maximum loan amounts each year for each county. So, depending on where a veteran lives, the amount of the VA guaranty on the loan can vary. In recent years, the loan limit for most counties has been set at $417,000, but higher in some counties where it costs more to live. A super maximum VA loan of $1,000,000 may also be available for qualified borrowers.
To find out about limits in your county, you can speak directly with a VA loan professional.
Back to VA Loan FAQ's
