Questions & Answers About VA Home Loans
This is an archive of common and uncommon questions addressed by our department.
You can Ask a VA Loan Question, or you can call 1-800-211-9024.
Browse the topics below to view answers to questions that have been submitted by borrowers and prospective borrowers.
How much can I borrow on a VA Home Loan?
Neils Jorgensen
Department Representative
The maximum loan amount for a VA Home Loan is now $417,000.00. The purchase amount may be higher. On a VA Home Loan purchase, in most cases, the Veteran can borrow 100% of the purchase price as long as the amount of the purchase price plus VA Funding Fee is not higher than the $417,000 maximum allowed.
Otherwise, and in the case of a refinance of a VA Loan, the rule for the maximum loan amount based on each individual situation, and comes down to what the appraised value is. The amount that is allowed on a VA loan is based on two rules related to the Loan-To-Value. A VA Refinance Home Loan will allow 90% of the appraised value OR 75% of the appraised value plus $36,000, whichever is less. So, for example, let's say the appraised value is $200,000. VA would allow 90% of that, which is $180,000, or 75% of that, which is 150,000 plus $36,000, which equals $186,000. So in this case, the maximum loan amount is $180,000.00 because $180,000 is the lesser of the two values derived from the formulas.
