The maximum guarantee for VA loans over $144,000 is up to 25% of the county loan limit. The lowest county limit is $726,200. This means that if your home costs more than $144,000, the VA will only guarantee 25% of the loan, up to the $1,089,300 limit or the limit for high-cost counties.
In 2020, the Department of Veterans Affairs eliminated loan limits for service members and veterans who had their full loan entitlements. For those who only have a partial entitlement, the loan limit increased in 2023.
The new maximum loan guarantee is $726,200 in most counties, an increase of $79,000 from the previous loan limit. The loan limit is up to $1,089,300 in some high-cost counties. These higher loan limits vary by region and are listed later in this article.
The VA loan limits are the same as the conforming mortgage loan limits determined by the Federal Housing Finance Agency (FHFA) and the maximum limits for conforming mortgages acquired by Fannie Mae and Freddie Mac.
These new loan limits apply to all VA loans closed after January 1, 2023.
Read through this article to get a full understanding of VA loan limits, the maximum amount you can borrow without a down payment, which high-cost counties have higher limits and other information you may need to know to secure a VA loan.
