VA Loans Above the Usual Limits
Many lenders cap VA financing far below what the benefit allows. If you were told VA will not work on your price range, ask again.
The VA home loan benefit is the strongest financing available to any borrower in the United States. Zero down, no mortgage insurance, competitive rates, and an assumable note. The most common way it gets wasted is a lender saying the loan amount is too large.
Loan limits were removed
For veterans with full entitlement, VA county loan limits no longer cap the loan amount. What varies is each lender's willingness to make a large VA loan, which is a business decision on their part, not a rule.
Programs exist to $5 million with the benefit intact. If a lender tells you VA stops at the conforming limit, they are describing their own desk.
Entitlement, restoration, and second use
Entitlement is reusable. Once a VA loan is paid off, typically by selling, your full entitlement is restored for the next purchase. It is also possible to hold two VA loans at once using remaining entitlement, which is how many service members keep a home as a rental after a relocation.
The funding fee
Most borrowers pay a one-time funding fee that can be financed. Veterans receiving service-connected disability compensation are exempt entirely, and if you were charged one before your rating came through, a refund may be available. It is worth asking.
Making a VA offer competitive
Listing agents sometimes discourage VA offers based on outdated assumptions about appraisals and repairs. A pre-underwritten approval, a realistic timeline, and a lender who will call the listing agent directly resolve most of that. We do that call as a matter of course.
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