Did you know that the VA no longer imposes a loan limit for eligible veterans with full entitlement? That’s right—if you have full entitlement, you can borrow as much as you can afford without needing a down payment.
Imagine moving into that perfect home, the one where your family can grow, where you’ll make memories and watch your kids play in the yard.
That dream home is closer than you think!
But if you have remaining entitlement, there are limits based on where you live. Let’s dive into what that means for you and your future.”
Full entitlement means that the VA guarantees to cover up to 25% of your loan if you default. So, if you’ve never used your VA loan, or you’ve paid off your last VA loan and sold the property, you’re eligible to borrow as much as you can afford!
But, let’s say you’ve used part of your entitlement. In that case, your loan limits are determined by the county loan limit, which is based on where you’re buying the home.
So, let’s say you live in California, more specifically, San Diego County. Your VA loan limit is $1,077,550. Now let’s say you’ve already used part of your entitlement, you’ll have to cover 25% of that difference if you’re borrowing above the limit.
If you’re over the $144,000 threshold, and still have remaining entitlement, you might need to make a down payment. But the good news? You can still use your VA loan benefit with a down payment, or if you have enough remaining entitlement to cover 25% of the difference.
Now, remember that the VA doesn’t limit how much you can borrow—the loan amount is more about your ability to afford it and the county loan limit. Your lender will help determine what’s feasible based on your credit, income, and assets.
Before applying, make sure you’ve got your Certificate of Eligibility, or COE, which proves your VA loan eligibility. And remember, VA loan limits are no longer a barrier for many veterans with full entitlement, so you’ve got more freedom to explore your options!
Want to know if you qualify for a VA home loan? Reach out to Veterans Guide today—we’re here to help you navigate the loan limits, figure out how much you can borrow, and guide you through the entire process!
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