Are You Subject To VA Loan Limits?

Are You Subject To VA Loan Limits?

VA home loans are perhaps the most hard-earned benefits available to Veterans and active military members. But, to qualify, you must meet the eligibility criteria defined by the US Department of Veterans Affairs (VA).

And, if we get into it further, the most common question most Veterans ask is, are they subject to VA loan limits?

Well, it depends upon your VA loan entitlement. This blog will cover everything you need to know about VA loan rates and the eligibility criteria for VA home loans for Veterans.

Qualifying Requirements For VA Home Loans

To get started with, you must apply for the VA COE (Certificate Of Eligibility). And, to qualify for a COE, you must meet either of the following conditions:

  • You are an active military member or a Veteran who has served at least 181 days during peacetime.
  • You are an active military member or a Veteran who has served at least 90 days during wartime.
  • You are a Reservist or a national guard with at least six years of experience.
  • You are the surviving spouse of a Veteran who lost their lives in the line of duty or due to a service-related injury/illness.

If you meet either of the above-stated conditions, you are eligible to apply for the VA COE. However, to qualify for VA home loans, you must also meet the lender requirements and MPRs, as defined by the VA.

Lender’s Requirements¬†


Remember, VA loans are guaranteed by the VA. However, they are actually provided by VA-approved private lenders. So, while the VA does not require you to have a minimum credit score, most lenders might require you to have a minimum credit score of at least 600.

VA MPRs (Minimum Property Requirements)

The property you choose must also meet all the MPRs defined by the VA. These MPRs are taken into consideration during the VA home loan appraisal.

VA Loan Limits: Are You Subjected To Them?

Now, coming off to our main topic, are you restricted to any VA loan limit?

A Veteran with full entitlement is not subject to any VA loan limits. Meaning, they can borrow as much amount as the home is appraised for. This, however, does not mean that they can borrow any amount they want.

Before the VA proceeds with the loan amount, a VA loan appraisal is conducted. The appraiser evaluates the actual worth of the house you are planning to buy.

Moreover, if you have no or partial entitlement, you will be subjected to VA loan limits. If you want to buy a house that is worth more than what the VA has quoted, you can either make up the difference by paying a downpayment or look for another home that fits your budget.

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