If you have remaining entitlement for your VA-backed home loan, find out the current loan limits and how they may affect the amount of money you can borrow without a down payment. As of 2020, if you have full entitlement, you don’t have a VA loan limit.
If you have full entitlement, you don’t have a home loan limit
Eligible Veterans, service members, and survivors with full entitlement no longer have limits on loans over $144,000. This means you won’t have to pay a down payment, and we guarantee to your lender that if you default on a loan that’s over $144,000, we’ll pay them up to 25% of the loan amount.
You have full entitlement if you meet any of these requirements.
At least one of these must be true:
- You’ve never used your home loan benefit, or
- You’ve paid a previous VA loan in full and sold the property (in this case, you’d have your full entitlement restored), or
- You’ve used your home loan benefit, but had a foreclosure or compromise claim (also called a short sale) andrepaid us in full
Note: You may be familiar with the terms additional entitlement, bonus entitlement, or tier 2 entitlement. We use these terms when we communicate with lenders about VA-backed loans over $144,000. You won’t need to use these terms when applying for a loan.
If you have remaining entitlement, you do have a home loan limit
With remaining entitlement, your VA home loan limit is based on the county loan limit where you live. This means that if you default on your loan, we’ll pay your lender up to 25% of the county loan limit minus the amount of your entitlement you’ve already used.
Check your county loan limit on the FHFA website
You can use your remaining entitlement—either on its own or together with a down payment—to take out another VA home loan.
You may have remaining entitlement if any of these are true:
- You have an active VA loan you’re still paying back, or
- Youpaid a previous VA loan in full and still own the home, or
- You refinanced your VA loan into a non-VA loan and still own the home, or
- You had a compromise claim (or short sale) on a previous VA loan and didn’t repay us in full, or
- You had a deed in lieu of foreclosure on a previous VA loan (this means you transferred your home’s title to the bank that holds your mortgage to avoid foreclosure), or
- Youhad a foreclosure on a previous VA loan and didn’t repay us in full
Is the “limit” the amount I can borrow or the amount VA guarantees?
The VA-backed home loan limit refers to the amount we’ll guarantee (the maximum amount we’ll pay to your lender if you default on your loan).We don’t limit how much you can borrow to finance a home.
How does my county loan limit affect me?
You may need to make a down payment if you’re using remaining entitlement and your loan amount is over $144,000. This is because most lenders require that your entitlement, down payment, or a combination of both covers at least 25% of your total loan amount.
So if you’re able and willing to make a down payment, you may be able to borrow more than the county loan limit with a VA-backed loan. Remember, your lender will still need to approve you for a loan. The lender will determine the size of loan you can afford based on your:
- Credit history
- Income
- Assets (items of value such as savings, retirement, and investment accounts)
We don’t require a minimum credit score, but some lenders may have different credit score requirements. Be sure to contact more than one lender to compare.
Note: You may be familiar with the terms additional entitlement, bonus entitlement, or tier 2 entitlement. We use these terms when we communicate with lenders about VA-backed loans over $144,000. You won’t need to use these terms when applying for a loan.
Why does my COE say, “This Veteran’s basic entitlement is $0”?
This line on your COE is information for your lender. It shows that you’ve used your home loan benefit before and don’t have remaining entitlement. If the basic entitlement listed on your COE is more than $0, you may have remaining entitlement and can use your benefit again.
On your COE, in the table called Prior Loans charged to entitlement, we list the amount of your entitlement you’ve already used under the Entitlement Charged column. Your entitlement can be restored when you sell your property and pay your VA-backed loan in full, or repay in full any claim we’ve paid.
What are the VA home loan limits by year and county?
Find the VA home loan limit for the county your property (or future property) is in.
2024 VA home loan limits
VA home loan limits are the same as the Federal Housing Finance Agency (FHFA) limits. These are called conforming loan limits.
Check current loan limits on the FHFA website
Previous years
If you have questions about your entitlement
You can talk to your lender or call us at 877-827-3702(TTY: 711) to talk to a VA home loan representative. We’re here Monday through Friday, 8:00 a.m. to 6:00 p.m. ET.
You can also contact your regional loan center directly.
Find your regional loan center
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