How Much Can You Borrow With a VA Loan?

Female veteran with her husband and kidsCurious about the borrowing potential of a VA loan? Your path to affordable homeownership starts here! In this comprehensive guide, we'll unveil the possibilities and answer the question: How much can you borrow with a VA loan? Explore the factors that determine your borrowing capacity and discover how a VA loan can help you achieve your homeownership dreams.

Understanding VA Loan Borrowing Limits

The VA loan program is designed to help active-duty military personnel, veterans, and their families become homeowners. One of the most critical factors in determining how much you can borrow with a VA loan is your county's loan limits, and the Department of Veterans Affairs sets these limits, which can vary depending on where you live.

Generally, the maximum amount you can borrow for a VA home loan without putting any money down is $548,250 in 2023. However, depending on your location, this amount may be higher or lower. County loan limits are based on median home prices in each area and can range from as low as $726,200 to as high as $1,089,300.

It's important to note that if you want to borrow more than these limits allow, you may still be able to do so with a down payment. The amount of your down payment will depend on the difference between your desired loan amount and the county limit for your area. Understanding VA loan borrowing limits can help you make informed decisions about buying a home using this valuable benefit.

VA Loan Eligibility and Maximum Borrowing Amount

It would be best if you first established your eligibility to determine your maximum borrowing amount for a VA loan. Eligibility requirements include being an active-duty service member, veteran, or surviving spouse of a military member who died in the line of duty or due to service-related injuries. Once eligible, you can contact your regional loan center to confirm the maximum amount you can borrow based on where you plan to buy a home.

The maximum borrowing amount for a VA loan varies depending on the property's location and other factors, such as whether it is your first time getting a VA loan. The limit may be higher in some areas with high living costs than in other parts of the country. Factors such as your credit score and debt-to-income ratio will also play a role in determining how much money you can borrow through this program. With competitive interest rates and no down payment required, many veterans can easily purchase their dream homes using a VA loan.

Factors Affecting VA Loan Borrowing Capacity

The Department of Veterans Affairs' loan limit is one of the most important variables affecting the VA's loan borrowing capacity. The loan limit determines how much a borrower can borrow without making a down payment. The VA sets loan limits for different locations based on the median home prices in those areas. In 2023, the VA loan limit for most counties in the U.S. was $726,200.

Another factor that affects VA loan borrowing capacity is the borrower's credit score and debt-to-income ratio (DTI). A low credit score or high DTI can result in a lower borrowing capacity, which indicates a higher risk of defaulting on payments.

Other factors impacting VA loan borrowing capacity include employment history and income stability, assets and savings, and previous bankruptcies or foreclosures. These factors are considered by lenders when determining whether to approve a borrower's application and how much they are willing to lend to them.

Calculating Your VA Loan Borrowing Power

Your available borrowing power may be impacted if you have previously used a VA loan. Generally, if you have not paid off your previous VA loan, the remaining balance will be subtracted from your current borrowing power. Additionally, if you sold the property purchased with your last VA loan and did not pay it off in full, the remaining balance will also impact your current borrowing power.

Your disability rating can also impact your VA loan borrowing power. If you have a service-connected disability rating of at least 10%, you may be exempt from paying the VA funding fee. This fee is typically 2.3% of the loan amount and can add up to thousands of dollars in upfront costs for borrowers.

Consider using an online mortgage calculator or speaking with a lender specializing in VA loans to calculate your VA loan borrowing power accurately. They can help determine how much you may qualify for based on factors like your credit score, debt-to-income ratio, and other financial considerations.

Exploring VA Loan Entitlement and Borrowing Limits

When determining how much you can borrow with a VA loan, it's essential to understand the concept of "entitlement." Entitlement refers to the amount of money the Department of Veterans Affairs (VA) will guarantee on your behalf. The basic entitlement is $36,000, but this number can vary based on your location and whether or not you have used your VA home loan benefits before.

To apply for a VA home loan, you must complete Form 26-1880. This form will allow the lender to determine whether or not you are eligible for a VA loan and how much entitlement you have available. Once your eligibility has been established and your entitlement determined, you can begin exploring borrowing limits with lenders.

It's important to note that while there is technically no limit on how much you can borrow with a VA home loan, there are still restrictions. For example, lenders may have underwriting requirements that could impact your ability to qualify for specific amounts. Additionally, borrowers may need to meet income and credit score requirements to receive approval for larger loans.

VA Loan Borrowing Limits for Different Property Types

The amount you can borrow with a VA loan varies depending on the property type. The county loan limit ranges from $726,200 to $1,089,300 for a single-family home, depending on the property's location. If you want to purchase a single-family home priced higher than this limit, you will need to make up the difference in cash.

The county loan limits are even higher for multi-unit properties (2-4 units); in some areas, they can reach as high as $1.6 million. However, remember that you must occupy one of the units as your primary residence for at least one year after closing.

There are additional factors to consider when it comes to condos and townhomes. The VA must approve the project for you to use your VA loan benefits for financing. Additionally, suppose you are purchasing a condo or townhome priced above the county loan limit for single-family homes. In that case, you may need to make up the difference in cash or obtain secondary financing.


In conclusion, understanding how much you can borrow with a VA loan is key to realizing your homeownership goals. Don't miss out on the opportunity to secure the financing you need! Take the next step today by contacting a VA-approved lender or visiting our website to explore your borrowing potential and receive personalized guidance tailored to your unique circumstances. Start your journey towards affordable homeownership with confidence, knowing that a VA loan can provide the financial support you need to make your dream home a reality!