Oklahoma VA Loan Limits

VA Loans in Oklahoma

Did you know you may be eligible for a zero-down loan without any maximum limit if you are a veteran or military service member in Oklahoma? In 2020, the VA eliminated all limits for VA loans in Oklahoma VA loans for most borrowers. This means that first-time VA homebuyers and those with full entitlements can borrow as much money as the lenders will allow. The amount of your Oklahoma VA home loan will now depend more on your financial status than the local housing market. VA loan limits are also still available for homebuyers with VA loans or partial entitlement. You may qualify if you are one of the 270,775 veterans living in Oklahoma, active-duty servicemember or eligible surviving spouse of a military member.

There’s no Oklahoma VA loan limits in 2022 for those with full entitlement

The Department of Veterans Affairs eliminated OK VA home loan limits for fully-qualified borrowers in 2020. That means you can borrow more because you don’t have to worry about finding a house within your local limits. As such, VA home loans now have increased appeal since removing the loan limit requirement. This is especially true when compared to other government mortgage loans. FHA loans, also government-backed, have loan limitations that are based on local housing prices. In most areas across the country, the FHA limit for 2022 is $420,680. Loan limits also apply to conforming conventional mortgages, which are insured by Fannie Mae or Freddie Mac rather than a government agency. All that being said, it’s important to remember that just because qualified applicants don’t have to meet any VA loan limit in Oklahoma doesn’t mean that you can purchase a home at any price.

Lenders now decide how much loan you can afford

Your ability to repay the loan now depends on on the private mortgage lender that issues your VA-backed loan. Along with some general VA loan requirements, the lender will consider several factors.

  • Applicant Credit Score: VA borrowers usually need to have a credit score of 620 or better, although some lenders are rumored to lend down to a 580 from time to time. Additionally, Oklahoma VA loan rates often depend on an applicant’s credit score.
  • Income: Lenders will verify your income for the past 2 years to ensure you are earning enough to pay your monthly mortgage payment. VA loans employ two methods of evaluating applicant income to determine how much mortgage they can afford, known as the Debt-to-Income Ratio and the Residual Income method. Of course, you should be asking yourself how much mortgage can I afford before applying for any home loan.
  • Applicant Debt-To Income Ratio (DTI): Your debt-to-income ratio compares your monthly debt payments to your monthly income. VA even allows the lender to approve them at a higher DTI if they have other compensating factors. While there’s no limit on VA loan programs for 2022, its ultimately up to your lender and your personal circumstances to determine how much you can borrow.

You can search for an approved VA lender in Oklahoma, including in the following cities and towns here:

Ada, Altus, Anadarko, Ardmore, Bartlesville, Bethany, Bixby, Blackwell, Blanchard, Broken Arrow, Catoosa, Chickasha, Choctaw, Claremore, Clinton, Collinsville, Coweta, Cushing, Del City, Duncan, Durant, Edmond, Elk City, El Reno, Enid, Glenpool, Grove, Guthrie, Guymon, Harrah, Henryetta, Holdenville, Hugo, Idabel, Jenks, Lawton, Lone Grove, McAlester, Miami, Midwest City, Moore, Muskogee, Mustang, Newcastle, Noble, Norman, Oklahoma City, Okmulgee, Owasso, Pauls Valley, Piedmont, Ponca City, Poteau, Pryor Creek, Purcell, Sallisaw, Sand Springs, Sapulpa, Seminole, Shawnee, Skiatook, Stillwater, Tahlequah, Tecumseh, The Village, Tulsa, Tuttle, Vinita, Wagoner, Warr Acres, Weatherford, Woodward

How do I determine my entitlement level?

The VA Certificate of Eligibility, or COE, is what informs lenders of an applicant’s eligibility for a VA loan. It also indicates your level of entitlement. The COE helps the VA and your lender to communicate. Your COE may not make much sense at first glance. As an example, if a COE reflects a basic entitlement of $36,000, that number shows how much loan insurance the VA offers through the VA guarantee, rather than your potential borrowing potential. This VA insurance reduces the risk for the lender and eliminates the need to make a down payment or monthly mortgage insurance payments. The VA covers 25% of the amount you borrow on your home loan, regardless of how much it is approved by the lender. You may also want to refer to a VA loan calculator to help figure out your entitlement and potential borrowing power.

What does full entitlement refer to?

The maximum VA home loan benefits you’re eligible for is known as full entitlement. If you’re a first-time home buyer or it’s you’re first time using a VA loan, you’re likely to have a full entitlement. If you’ve used your VA benefits before, you may still be eligible for a full entitlement if the loan is fully repaid and your benefit is restored. Otherwise, you may be a borrowers that’s eligible for partial entitlement. That may be the case for someone who used an Oklahoma VA loan to purchase a home a few years back and is still paying that loan off. With a partial entitlement, an applicant may still be eligible for a VA loan but the mortgage must not exceed their local max loan amount for VA financing. There are other caveats that may apply related to your VA home loan entitlement eligibility. As an example, current VA loan holders or former borrowers who have been foreclosed will not be eligible for their full entitlement. You won’t get your full entitlement if you’ve short-sold a VA-backed loan which the VA had to reimburse. In fact, if you’ve had a foreclosure or short-sale in your past, you might not be eligible to receive another VA loan at all.

What is the maximum amount I can borrow if I have partial eligibility?

Since 2020, specific OK VA loan limits only apply to partial entitlement. Those mortgage limits are identical to the conventional conforming loan limit for a particular area. Conventional loan limits are set by the Federal Housing Finance Agency (FHFA) each year. The loan limits will depend on where you live and the property you purchase. They are determined based on local home prices. This FHFA map will show you the loan limits for your county. It’s not difficult to determine your county’s loan limit. However, it can be complicated to calculate how this limit will affect your home loan. To determine if you will need a downpayment on the VA loan, lenders use a complex equation. You can read our guide on buying an additional house with a VA loan. Talk to a VA lender if you only want to find out how much house you could afford using a VA loan. In just a few minutes, they can calculate your home’s potential price and look up your COE.

Oklahoma VA Home Loan Limits 2022 Map (for partial eligibility applicants)

Oklahoma VA County Loan Limits 2022 (for partial eligibility applicants)

County Name
Limit
ADAIR$424,100
ALFALFA$424,100
ATOKA$424,100
BEAVER$424,100
BECKHAM$424,100
BLAINE$424,100
BRYAN$424,100
CADDO$424,100
CANADIAN$424,100
CARTER$424,100
CHEROKEE$424,100
CHOCTAW$424,100
CIMARRON$424,100
CLEVELAND$424,100
COAL$424,100
COMANCHE$424,100
COTTON$424,100
CRAIG$424,100
CREEK$424,100
CUSTER$424,100
DELAWARE$424,100
DEWEY$424,100
ELLIS$424,100
GARFIELD$424,100
GARVIN$424,100
GRADY$424,100
GRANT$424,100
GREER$424,100
HARMON$424,100
HARPER$424,100
HASKELL$424,100
HUGHES$424,100
JACKSON$424,100
JEFFERSON$424,100
JOHNSTON$424,100
KAY$424,100
KINGFISHER$424,100
KIOWA$424,100
LATIMER$424,100
LE FLORE$424,100
LINCOLN$424,100
LOGAN$424,100
LOVE$424,100
MAJOR$424,100
MARSHALL$424,100
MAYES$424,100
MCCLAIN$424,100
MCCURTAIN$424,100
MCINTOSH$424,100
MURRAY$424,100
MUSKOGEE$424,100
NOBLE$424,100
NOWATA$424,100
OKFUSKEE$424,100
OKLAHOMA$424,100
OKMULGEE$424,100
OSAGE$424,100
OTTAWA$424,100
PAWNEE$424,100
PAYNE$424,100
PITTSBURG$424,100
PONTOTOC$424,100
POTTAWATOMIE$424,100
PUSHMATAHA$424,100
ROGER MILLS$424,100
ROGERS$424,100
SEMINOLE$424,100
SEQUOYAH$424,100
STEPHENS$424,100
TEXAS$424,100
TILLMAN$424,100
TULSA$424,100
WAGONER$424,100
WASHINGTON$424,100
WASHITA$424,100
WOODS$424,100
WOODWARD$424,100

VA Loan FAQs

Can closing costs be included in a VA Loan?

If you don’t have enough funds to cover closing costs on your new home, you can include certain costs in your VA loan. You also have the option to roll your funding fee into your total mortgage amount. As for the fees that can’t be rolled into your mortgage per VA loan qualifications, you may still be eligible for seller or lender concessions that will lower the upfront cash cost.

What are the closing costs for a VA loan?

Borrowers generally pay different closing costs depending on where they live and the particulars of their transaction you have. Closing costs are often within the range of 3% and 5% of the total mortgage amount.

Who pays the closing costs of a VA loan?

The closing costs of a VA loan are generally split between the seller and buyer, however the seller costs must not exceed 4% of the total loan amount. The seller’s share usually includes the commission for real estate agents.

You, as the buyer, are responsible for the VA funding fee, origination fee and discount points, VA appraisal fee, title fees, and other costs, some of which can be financed. Fortunately, VA home loan requirements establish limitations on costs for home buyers, and also help you keep costs down by limiting the origination fee.

Pennsylvania VA Loan Limits

VA Loans in Pennsylvania

Did you know you may be eligible for a zero-down loan without any maximum limit if you are a veteran or military service member in Pennsylvania? In 2020, the VA eliminated all limits for VA loans in Pennsylvania VA loans for most borrowers. This means that first-time VA homebuyers and those with full entitlements can borrow as much money as the lenders will allow. The amount of your Pennsylvania VA home loan will now depend more on your financial status than the local housing market. VA loan limits are also still available for homebuyers with VA loans or partial entitlement. You may qualify if you are one of the 759,474 veterans living in Pennsylvania, active-duty servicemember or eligible surviving spouse of a military member.

There’s no Pennsylvania VA loan limits in 2022 for those with full entitlement

The Department of Veterans Affairs eliminated PA VA home loan limits for fully-qualified borrowers in 2020. That means you can borrow more because you don’t have to worry about finding a house within your local limits. As such, VA home loans now have increased appeal since removing the loan limit requirement. This is especially true when compared to other government mortgage loans. FHA loans, also government-backed, have loan limitations that are based on local housing prices. In most areas across the country, the FHA limit for 2022 is $420,680. Loan limits also apply to conforming conventional mortgages, which are insured by Fannie Mae or Freddie Mac rather than a government agency. All that being said, it’s important to remember that just because qualified applicants don’t have to meet any VA loan limit in Pennsylvania doesn’t mean that you can purchase a home at any price.

Lenders now decide how much loan you can afford

Your ability to repay the loan now depends on on the private mortgage lender that issues your VA-backed loan. Along with some general VA loan requirements, the lender will consider several factors.

  • Applicant Credit Score: VA borrowers usually need to have a credit score of 620 or better, although some lenders are rumored to lend down to a 580 from time to time. Additionally, Pennsylvania VA loan rates often depend on an applicant’s credit score.
  • Income: Lenders will verify your income for the past 2 years to ensure you are earning enough to pay your monthly mortgage payment. VA loans employ two methods of evaluating applicant income to determine how much mortgage they can afford, known as the Debt-to-Income Ratio and the Residual Income method. Of course, you should be asking yourself how much mortgage can I afford before applying for any home loan.
  • Applicant Debt-To Income Ratio (DTI): Your debt-to-income ratio compares your monthly debt payments to your monthly income. VA even allows the lender to approve them at a higher DTI if they have other compensating factors. While there’s no limit on VA loan programs for 2022, its ultimately up to your lender and your personal circumstances to determine how much you can borrow.

You can search for an approved VA lender in Pennsylvania, including in the following cities and towns here:

Abington, Adams, Adams, Aliquippa, Allegheny, Allegheny, Allen, Allentown, Allison Park, Altoona, Ambler, Ambridge, Amity, Ancient Oaks, Annville (Township), Antis, Antrim, Archbald, Ardmore, Arlington Heights, Aston, Athens (Township), Audubon, Baldwin, Bangor, Beaver Falls, Bedford (Township), Bedminster, Bellefonte, Bellevue, Benner, Bensalem, Bern, Berwick, Bethel, Bethel, Bethel Park, Bethlehem, Bethlehem (Township), Birdsboro, Blakely, Blandon, Bloomsburg, Blue Bell, Boothwyn, Bradford, Brecknock, Breinigsville, Brentwood, Brighton, Bristol, Bristol (Township), Brookhaven, Broomall, Buckingham, Buffalo, Bullskin, Bushkill, Butler, Butler, Butler (Township), California, Caln (Township), Cambria, Camp Hill, Canonsburg, Canton, Carbondale, Carlisle, Carnegie, Carnot-Moon, Carroll, Carroll, Carroll, Castle Shannon, Catasauqua, Cecil, Center, Center, Chambersburg, Chanceford, Charlestown, Chartiers, Cheltenham, Chester, Chestnuthill, Chippewa, Clairton, Clarion, Clay (Township), Clearfield, Clifton Heights, Coal, Coatesville, Colebrookdale, College, Collegeville, Collier, Collingdale, Colonial Park, Columbia, Concord, Conemaugh, Conewago, Conewago, Connellsville, Conshohocken, Coolbaugh, Coraopolis, Corry, Crafton, Cranberry, Cranberry, Croydon, Cumberland, Cumberland, Cumru, Dallas (Township), Darby, Darby (Township), Delaware, Derry, Derry, Derry (Township), Dickinson, Dickson City, Dingman, Dormont, Douglass, Dover (Township), Downingtown, Doylestown, Doylestown (Township), Drexel Hill, DuBois, Dunbar (Township), Dunmore, Duquesne, Eagleville, Earl, East Allen, East Bradford, East Brandywine, East Buffalo, East Cocalico, East Coventry, East Donegal, East Earl (Township), East Fallowfield, East Goshen, East Hanover, East Hempfield, East Huntingdon, East Lampeter, East Manchester, East Marlborough, East Norriton, East Nottingham, Easton, East Pennsboro, East Pikeland, East Rockhill, East Stroudsburg, Easttown, East Vincent, East Whiteland, East York, Economy, Edinboro, Elizabethtown, Elizabeth (Township), Ellwood City, Emmaus, Enola, Ephrata, Ephrata (Township), Erie, Exeter, Exeter, Exton, Fairless Hills, Fairview, Fairview (Township), Falls, Ferguson, Findlay, Folcroft, Folsom, Forest Hills, Forks, Fort Washington, Fox Chapel, Franconia, Franklin, Franklin, Franklin Park, Frankstown (Township), Fullerton, Georges, Gettysburg, Gilbertsville, Glenolden, Glenshaw, Glenside, Greene, Greensburg, Greenville, Grove City, Guilford (Township), Hamilton, Hamilton, Hampden, Hampton, Hanover, Hanover, Hanover, Harborcreek, Harleysville, Harris, Harrisburg, Harrison, Hatboro, Hatfield (Township), Haverford, Hazle, Hazleton, Hellam, Hellertown, Hempfield, Hermitage, Hershey, Hilltown, Hollidaysburg, Homeacre-Lyndora, Honey Brook (Township), Hopewell, Hopewell, Horsham, Horsham (Township), Huntingdon, Indiana, Indiana, Jackson, Jackson, Jackson, Jeannette, Jefferson, Jefferson Hills, Johnstown, Kennedy, Kennett, Kennett Square, King of Prussia, Kingston, Kingston (Township), Kulpsville, Kutztown, Lackawaxen, Lake, Lancaster, Lancaster (Township), Lansdale, Lansdowne, Latrobe, Lawrence, Leacock, Lebanon, Lehigh, Lehighton, Lehman, Leola, Levittown, Lewisburg, Lewistown, Ligonier (Township), Limerick, Linglestown, Lionville, Lititz, Lock Haven, Logan, Londonderry, London Grove, Longswamp, Lower Allen, Lower Allen (Township), Lower Burrell, Lower Gwynedd, Lower Heidelberg, Lower Macungie, Lower Makefield, Lower Merion, Lower Moreland, Lower Nazareth, Lower Oxford, Lower Paxton, Lower Pottsgrove, Lower Providence, Lower Salford, Lower Saucon, Lower Southampton, Lower Swatara, Lower Windsor, Loyalsock, Luzerne, Maidencreek, Manchester (Township), Manheim (Township), Manor, Maple Glen, Marple, Marshall, Martic, Maxatawny (Township), McCandless, McKeesport, McKees Rocks, Meadville, Mechanicsburg, Media, Middle Paxton, Middlesex, Middlesex, Middle Smithfield, Middletown, Middletown, Middletown, Middletown, Milford, Millcreek, Millersville, Milton, Monaca, Monessen, Monroe, Monroeville, Montgomery, Montgomery, Montgomeryville, Moon, Moore, Moosic, Morrisville, Mountain Top, Mount Carmel, Mount Joy, Mount Joy (Township), Mount Lebanon, Mount Pleasant (Township), Muhlenberg, Munhall, Murrysville, Nanticoke, Nazareth, Neshannock, Nether Providence, Newberry, New Brighton, New Britain (Township), New Castle, New Cumberland, New Garden, New Hanover, New Holland, New Kensington, New London, Newport, New Sewickley, Newtown, Newtown (Township), Norristown, Northampton, Northampton, North Codorus, North Cornwall, North Coventry, North East (Township), North Fayette, North Huntingdon, North Lebanon, North Londonderry, North Middleton, North Sewickley, North Strabane, North Union, North Versailles, Northwest Harborcreek, North Whitehall, Norwood, Oakmont, O’Hara, Ohio, Oil City, Old Forge, Olyphant, Oreland, Oxford, Oxford, Palmer, Palmerton, Palmyra, Paoli, Paradise (Township), Park Forest Village, Parkville, Patton, Paxtonia, Peach Bottom, Penn, Penn, Penn, Penn Estates, Penn Forest, Penn Hills, Penn (Township), Penn Wynne, Pequea, Perkasie, Perkiomen, Peters, Philadelphia, Phoenixville, Pine, Pittsburgh, Pittston, Plainfield, Plains (Township), Pleasant Hills, Plum, Plumstead, Plymouth, Plymouth, Plymouth Meeting, Pocono, Polk, Pottstown, Pottsville, Progress, Prospect Park, Providence, Punxsutawney, Quakertown, Quincy, Radnor, Rapho, Reading, Reading, Red Lion, Redstone, Richboro, Richland, Richland, Richland, Ridley, Ridley Park, Robeson, Robinson, Ross, Ross, Rostraver, Salem, Salisbury, Salisbury, Sanatoga, Sandy (Township), Sayre, Schuylkill, Schuylkill Haven, Scott, Scott, Scranton, Selinsgrove, Sewickley, Shaler, Shamokin, Shanor-Northvue, Sharon, Sharon Hill, Shenango, Shillington, Shiloh, Shippensburg, Shippensburg (Township), Shrewsbury (Township), Silver Spring, Skippack (Township), Slippery Rock (Township), Smithfield, Solebury, Somerset, Somerset (Township), Souderton, South Abington, Southampton, Southampton, South Fayette, South Hanover, South Heidelberg, South Huntingdon, South Lebanon, South Londonderry, South Middleton, South Park, South Strabane, South Union, South Whitehall, South Williamsport, Spring, Spring, Springettsbury, Springfield, Springfield, Springfield, Springfield, Spring Garden, State College, Steelton, St. Marys, Stowe, Stroud, Stroudsburg, St. Thomas, Summit, Sunbury, Susquehanna, Swarthmore, Swatara, Swissvale, Swoyersville, Tamaqua, Taylor, Thornbury, Titusville, Tobyhanna, Towamencin, Tredyffrin, Trooper, Tunkhannock, Turtle Creek, Tyrone, Union, Uniontown, Unity, Upper Allen, Upper Chichester, Upper Darby, Upper Dublin, Upper Gwynedd, Upper Hanover, Upper Leacock, Upper Macungie, Upper Makefield, Upper Merion, Upper Milford, Upper Moreland, Upper Mount Bethel, Upper Nazareth, Upper Pottsgrove, Upper Providence, Upper Providence, Upper Saucon, Upper Southampton, Upper St. Clair, Upper Uwchlan, Uwchlan, Valley, Vernon, Village Green-Green Ridge, Warminster, Warren, Warrington, Warwick, Warwick, Washington, Washington, Washington, Washington, Washington, Wayne, Waynesboro, Weigelstown, Weisenberg, Wescosville, West Bradford, West Brandywine, West Caln, West Chester, West Cocalico, West Deer, West Donegal, West Earl, West Goshen, West Hanover, West Hempfield, West Lampeter, West Manchester, West Manheim, West Mifflin, West Norriton, West Pennsboro, West Rockhill, Westtown, West View, West Vincent, West Whiteland, White, Whitehall, Whitehall, Whitemarsh, White Oak, Whitpain, Wilkes-Barre, Wilkins, Wilkinsburg, Williams, Williamsport, Willistown, Willow Grove, Willow Street, Wilson, Windsor (Township), Woodlyn, Worcester, Wright, Wyndmoor, Wyomissing, Yeadon, York, York (Township)

How do I determine my entitlement level?

The VA Certificate of Eligibility, or COE, is what informs lenders of an applicant’s eligibility for a VA loan. It also indicates your level of entitlement. The COE helps the VA and your lender to communicate. Your COE may not make much sense at first glance. As an example, if a COE reflects a basic entitlement of $36,000, that number shows how much loan insurance the VA offers through the VA guarantee, rather than your potential borrowing potential. This VA insurance reduces the risk for the lender and eliminates the need to make a down payment or monthly mortgage insurance payments. The VA covers 25% of the amount you borrow on your home loan, regardless of how much it is approved by the lender. You may also want to refer to a VA loan calculator to help figure out your entitlement and potential borrowing power.

What does full entitlement refer to?

The maximum VA home loan benefits you’re eligible for is known as full entitlement. If you’re a first-time home buyer or it’s you’re first time using a VA loan, you’re likely to have a full entitlement. If you’ve used your VA benefits before, you may still be eligible for a full entitlement if the loan is fully repaid and your benefit is restored. Otherwise, you may be a borrowers that’s eligible for partial entitlement. That may be the case for someone who used an Pennsylvania VA loan to purchase a home a few years back and is still paying that loan off. With a partial entitlement, an applicant may still be eligible for a VA loan but the mortgage must not exceed their local max loan amount for VA financing. There are other caveats that may apply related to your VA home loan entitlement eligibility. As an example, current VA loan holders or former borrowers who have been foreclosed will not be eligible for their full entitlement. You won’t get your full entitlement if you’ve short-sold a VA-backed loan which the VA had to reimburse. In fact, if you’ve had a foreclosure or short-sale in your past, you might not be eligible to receive another VA loan at all.

What is the maximum amount I can borrow if I have partial eligibility?

Since 2020, specific PA VA loan limits only apply to partial entitlement. Those mortgage limits are identical to the conventional conforming loan limit for a particular area. Conventional loan limits are set by the Federal Housing Finance Agency (FHFA) each year. The loan limits will depend on where you live and the property you purchase. They are determined based on local home prices. This FHFA map will show you the loan limits for your county. It’s not difficult to determine your county’s loan limit. However, it can be complicated to calculate how this limit will affect your home loan. To determine if you will need a downpayment on the VA loan, lenders use a complex equation. You can read our guide on buying an additional house with a VA loan. Talk to a VA lender if you only want to find out how much house you could afford using a VA loan. In just a few minutes, they can calculate your home’s potential price and look up your COE.

Pennsylvania VA Home Loan Limits 2022 Map (for partial eligibility applicants)

Pennsylvania VA County Loan Limits 2022 (for partial eligibility applicants)

County Name
Limit
ADAMS$424,100
ALLEGHENY$424,100
ARMSTRONG$424,100
BEAVER$424,100
BEDFORD$424,100
BERKS$424,100
BLAIR$424,100
BRADFORD$424,100
BUCKS$424,100
BUTLER$424,100
CAMBRIA$424,100
CAMERON$424,100
CARBON$424,100
CENTRE$424,100
CHESTER$424,100
CLARION$424,100
CLEARFIELD$424,100
CLINTON$424,100
COLUMBIA$424,100
CRAWFORD$424,100
CUMBERLAND$424,100
DAUPHIN$424,100
DELAWARE$424,100
ELK$424,100
ERIE$424,100
FAYETTE$424,100
FOREST$424,100
FRANKLIN$424,100
FULTON$424,100
GREENE$424,100
HUNTINGDON$424,100
INDIANA$424,100
JEFFERSON$424,100
JUNIATA$424,100
LACKAWANNA$424,100
LANCASTER$424,100
LAWRENCE$424,100
LEBANON$424,100
LEHIGH$424,100
LUZERNE$424,100
LYCOMING$424,100
MCKEAN$424,100
MERCER$424,100
MIFFLIN$424,100
MONROE$424,100
MONTGOMERY$424,100
MONTOUR$424,100
NORTHAMPTON$424,100
NORTHUMBERLAND$424,100
PERRY$424,100
PHILADELPHIA$424,100
PIKE$636,150
POTTER$424,100
SCHUYLKILL$424,100
SNYDER$424,100
SOMERSET$424,100
SULLIVAN$424,100
SUSQUEHANNA$424,100
TIOGA$424,100
UNION$424,100
VENANGO$424,100
WARREN$424,100
WASHINGTON$424,100
WAYNE$424,100
WESTMORELAND$424,100
WYOMING$424,100
YORK$424,100

VA Loan FAQs

Can closing costs be included in a VA Loan?

If you don’t have enough funds to cover closing costs on your new home, you can include certain costs in your VA loan. You also have the option to roll your funding fee into your total mortgage amount. As for the fees that can’t be rolled into your mortgage per VA loan qualifications, you may still be eligible for seller or lender concessions that will lower the upfront cash cost.

What are the closing costs for a VA loan?

Borrowers generally pay different closing costs depending on where they live and the particulars of their transaction you have. Closing costs are often within the range of 3% and 5% of the total mortgage amount.

Who pays the closing costs of a VA loan?

The closing costs of a VA loan are generally split between the seller and buyer, however the seller costs must not exceed 4% of the total loan amount. The seller’s share usually includes the commission for real estate agents.

You, as the buyer, are responsible for the VA funding fee, origination fee and discount points, VA appraisal fee, title fees, and other costs, some of which can be financed. Fortunately, VA home loan requirements establish limitations on costs for home buyers, and also help you keep costs down by limiting the origination fee.

Massachusetts VA Loan Limits

VA Loans in Massachusetts

Did you know you may be eligible for a zero-down loan without any maximum limit if you are a veteran or military service member in Massachusetts? In 2020, the VA eliminated all limits for VA loans in Massachusetts VA loans for most borrowers. This means that first-time VA homebuyers and those with full entitlements can borrow as much money as the lenders will allow. The amount of your Massachusetts VA home loan will now depend more on your financial status than the local housing market. VA loan limits are also still available for homebuyers with VA loans or partial entitlement. You may qualify if you are one of the 303,534 veterans living in Massachusetts, active-duty servicemember or eligible surviving spouse of a military member.

There’s no Massachusetts VA loan limits in 2022 for those with full entitlement

The Department of Veterans Affairs eliminated MA VA home loan limits for fully-qualified borrowers in 2020. That means you can borrow more because you don’t have to worry about finding a house within your local limits. As such, VA home loans now have increased appeal since removing the loan limit requirement. This is especially true when compared to other government mortgage loans. FHA loans, also government-backed, have loan limitations that are based on local housing prices. In most areas across the country, the FHA limit for 2022 is $420,680. Loan limits also apply to conforming conventional mortgages, which are insured by Fannie Mae or Freddie Mac rather than a government agency. All that being said, it’s important to remember that just because qualified applicants don’t have to meet any VA loan limit in Massachusetts doesn’t mean that you can purchase a home at any price.

Lenders now decide how much loan you can afford

Your ability to repay the loan now depends on on the private mortgage lender that issues your VA-backed loan. Along with some general VA loan requirements, the lender will consider several factors.

  • Applicant Credit Score: VA borrowers usually need to have a credit score of 620 or better, although some lenders are rumored to lend down to a 580 from time to time. Additionally, Massachusetts VA loan rates often depend on an applicant’s credit score.
  • Income: Lenders will verify your income for the past 2 years to ensure you are earning enough to pay your monthly mortgage payment. VA loans employ two methods of evaluating applicant income to determine how much mortgage they can afford, known as the Debt-to-Income Ratio and the Residual Income method. Of course, you should be asking yourself how much mortgage can I afford before applying for any home loan.
  • Applicant Debt-To Income Ratio (DTI): Your debt-to-income ratio compares your monthly debt payments to your monthly income. VA even allows the lender to approve them at a higher DTI if they have other compensating factors. While there’s no limit on VA loan programs for 2022, its ultimately up to your lender and your personal circumstances to determine how much you can borrow.

You can search for an approved VA lender in Massachusetts, including in the following cities and towns here:

Abington, Abington (CDP), Acton, Acushnet, Adams, Adams (CDP), Agawam Town, Amesbury Town, Andover, Andover (CDP), Arlington, Arlington (CDP), Ashburnham, Ashland, Athol, Athol (CDP), Attleboro, Auburn, Ayer, Barnstable Town, Barre, Bedford, Belchertown, Bellingham, Belmont, Belmont (CDP), Berkley, Beverly, Billerica, Blackstone, Bliss Corner, Bolton, Boston, Bourne, Boxborough, Boxford, Braintree Town, Brewster, Bridgewater Town, Brockton, Brookline, Brookline (CDP), Burlington, Burlington (CDP), Cambridge, Canton, Carlisle, Carver, Charlton, Chatham, Chelmsford, Chelsea, Chicopee, Clinton, Clinton (CDP), Cochituate, Cohasset, Concord, Dalton, Danvers, Danvers (CDP), Dartmouth, Dedham, Dedham (CDP), Deerfield, Dennis, Dighton, Douglas, Dover, Dracut, Dudley, Duxbury, East Bridgewater, East Falmouth, Easthampton Town, East Longmeadow, Easton, Everett, Fairhaven, Fall River, Falmouth, Fitchburg, Foxborough, Foxborough (CDP), Framingham, Franklin Town, Freetown, Gardner, Georgetown, Gloucester, Grafton, Granby, Great Barrington, Groton, Groveland, Hadley, Halifax, Hamilton, Hampden, Hanover, Hanson, Harvard, Harwich, Haverhill, Hingham, Hingham (CDP), Holbrook, Holbrook (CDP), Holden, Holliston, Holyoke, Hopedale, Hopkinton, Hudson, Hudson (CDP), Hull, Hull (CDP), Ipswich, Kingston, Kingston (CDP), Lakeville, Lancaster, Lawrence, Lee, Leicester, Leominster, Lexington, Lexington (CDP), Lincoln, Littleton, Longmeadow, Longmeadow (CDP), Lowell, Ludlow, Lunenburg, Lynn, Lynnfield, Lynnfield (CDP), Malden, Manchester-by-the-Sea, Mansfield, Mansfield Center, Marblehead, Marblehead (CDP), Marion, Marlborough, Marshfield, Mashpee, Mattapoisett, Maynard, Maynard (CDP), Medfield, Medfield (CDP), Medford, Medway, Melrose, Mendon, Merrimac, Methuen Town, Middleborough, Middleborough Center, Middleton, Milford, Milford (CDP), Millbury, Millis, Milton, Milton (CDP), Monson, Montague, Nantucket, Nantucket (CDP), Natick, Needham, Needham (CDP), New Bedford, Newbury, Newburyport, Newton, Norfolk, North Adams, Northampton, North Andover, Northborough, Northborough (CDP), Northbridge, North Reading, North Scituate, Norton, Norwell, Norwood, Norwood (CDP), Ocean Bluff-Brant Rock, Orange, Orleans, Oxford, Oxford (CDP), Palmer Town, Paxton, Peabody, Pembroke, Pepperell, Pinehurst, Pittsfield, Plainville, Plymouth, Plymouth (CDP), Quincy, Randolph Town, Raynham, Reading, Reading (CDP), Rehoboth, Revere, Rochester, Rockland, Rockport, Rockport (CDP), Rowley, Rutland, Salem, Salisbury, Salisbury (CDP), Sandwich, Saugus, Saugus (CDP), Scituate, Scituate (CDP), Seekonk, Sharon, Sharon (CDP), Shirley, Shrewsbury, Somerset, Somerset (CDP), Somerville, Southampton, Southborough, Southbridge Town, South Hadley, Southwick, South Yarmouth, Spencer, Spencer (CDP), Springfield, Sterling, Stoneham, Stoneham (CDP), Stoughton, Stow, Sturbridge, Sudbury, Sutton, Swampscott, Swampscott (CDP), Swansea, Taunton, Templeton, Tewksbury, Topsfield, Townsend, Tyngsborough, Upton, Uxbridge, Wakefield, Wakefield (CDP), Walpole, Walpole (CDP), Waltham, Ware, Ware (CDP), Wareham, Warren, Watertown Town, Wayland, Webster, Webster (CDP), Wellesley, Wellesley (CDP), Wenham, Westborough, West Boylston, West Bridgewater, West Concord, Westfield, Westford, Westminster, Weston, Westport, West Springfield Town, Westwood, West Yarmouth, Weymouth Town, Whitinsville, Whitman, Wilbraham, Williamstown, Wilmington, Wilmington (CDP), Winchendon, Winchester, Winchester (CDP), Winthrop Town, Woburn, Worcester, Wrentham, Yarmouth, Yarmouth Port

How do I determine my entitlement level?

The VA Certificate of Eligibility, or COE, is what informs lenders of an applicant’s eligibility for a VA loan. It also indicates your level of entitlement. The COE helps the VA and your lender to communicate. Your COE may not make much sense at first glance. As an example, if a COE reflects a basic entitlement of $36,000, that number shows how much loan insurance the VA offers through the VA guarantee, rather than your potential borrowing potential. This VA insurance reduces the risk for the lender and eliminates the need to make a down payment or monthly mortgage insurance payments. The VA covers 25% of the amount you borrow on your home loan, regardless of how much it is approved by the lender. You may also want to refer to a VA loan calculator to help figure out your entitlement and potential borrowing power.

What does full entitlement refer to?

The maximum VA home loan benefits you’re eligible for is known as full entitlement. If you’re a first-time home buyer or it’s you’re first time using a VA loan, you’re likely to have a full entitlement. If you’ve used your VA benefits before, you may still be eligible for a full entitlement if the loan is fully repaid and your benefit is restored. Otherwise, you may be a borrowers that’s eligible for partial entitlement. That may be the case for someone who used an Massachusetts VA loan to purchase a home a few years back and is still paying that loan off. With a partial entitlement, an applicant may still be eligible for a VA loan but the mortgage must not exceed their local max loan amount for VA financing. There are other caveats that may apply related to your VA home loan entitlement eligibility. As an example, current VA loan holders or former borrowers who have been foreclosed will not be eligible for their full entitlement. You won’t get your full entitlement if you’ve short-sold a VA-backed loan which the VA had to reimburse. In fact, if you’ve had a foreclosure or short-sale in your past, you might not be eligible to receive another VA loan at all.

What is the maximum amount I can borrow if I have partial eligibility?

Since 2020, specific MA VA loan limits only apply to partial entitlement. Those mortgage limits are identical to the conventional conforming loan limit for a particular area. Conventional loan limits are set by the Federal Housing Finance Agency (FHFA) each year. The loan limits will depend on where you live and the property you purchase. They are determined based on local home prices. This FHFA map will show you the loan limits for your county. It’s not difficult to determine your county’s loan limit. However, it can be complicated to calculate how this limit will affect your home loan. To determine if you will need a downpayment on the VA loan, lenders use a complex equation. You can read our guide on buying an additional house with a VA loan. Talk to a VA lender if you only want to find out how much house you could afford using a VA loan. In just a few minutes, they can calculate your home’s potential price and look up your COE.

Massachusetts VA Home Loan Limits 2022 Map (for partial eligibility applicants)

Massachusetts VA County Loan Limits 2022 (for partial eligibility applicants)

County Name
Limit
BARNSTABLE$424,100
BERKSHIRE$424,100
BRISTOL$426,650
DUKES$636,150
ESSEX$598,000
FRANKLIN$424,100
HAMPDEN$424,100
HAMPSHIRE$424,100
MIDDLESEX$598,000
NANTUCKET$636,150
NORFOLK$598,000
PLYMOUTH$598,000
SUFFOLK$598,000
WORCESTER$424,100

VA Loan FAQs

Can closing costs be included in a VA Loan?

If you don’t have enough funds to cover closing costs on your new home, you can include certain costs in your VA loan. You also have the option to roll your funding fee into your total mortgage amount. As for the fees that can’t be rolled into your mortgage per VA loan qualifications, you may still be eligible for seller or lender concessions that will lower the upfront cash cost.

What are the closing costs for a VA loan?

Borrowers generally pay different closing costs depending on where they live and the particulars of their transaction you have. Closing costs are often within the range of 3% and 5% of the total mortgage amount.

Who pays the closing costs of a VA loan?

The closing costs of a VA loan are generally split between the seller and buyer, however the seller costs must not exceed 4% of the total loan amount. The seller’s share usually includes the commission for real estate agents.

You, as the buyer, are responsible for the VA funding fee, origination fee and discount points, VA appraisal fee, title fees, and other costs, some of which can be financed. Fortunately, VA home loan requirements establish limitations on costs for home buyers, and also help you keep costs down by limiting the origination fee.

Rhode Island VA Loan Limits

VA Loans in Rhode Island

Did you know you may be eligible for a zero-down loan without any maximum limit if you are a veteran or military service member in Rhode Island? In 2020, the VA eliminated all limits for VA loans in Rhode Island VA loans for most borrowers. This means that first-time VA homebuyers and those with full entitlements can borrow as much money as the lenders will allow. The amount of your Rhode Island VA home loan will now depend more on your financial status than the local housing market. VA loan limits are also still available for homebuyers with VA loans or partial entitlement. You may qualify if you are one of the 54,121 veterans living in Rhode Island, active-duty servicemember or eligible surviving spouse of a military member.

There’s no Rhode Island VA loan limits in 2022 for those with full entitlement

The Department of Veterans Affairs eliminated RI VA home loan limits for fully-qualified borrowers in 2020. That means you can borrow more because you don’t have to worry about finding a house within your local limits. As such, VA home loans now have increased appeal since removing the loan limit requirement. This is especially true when compared to other government mortgage loans. FHA loans, also government-backed, have loan limitations that are based on local housing prices. In most areas across the country, the FHA limit for 2022 is $420,680. Loan limits also apply to conforming conventional mortgages, which are insured by Fannie Mae or Freddie Mac rather than a government agency. All that being said, it’s important to remember that just because qualified applicants don’t have to meet any VA loan limit in Rhode Island doesn’t mean that you can purchase a home at any price.

Lenders now decide how much loan you can afford

Your ability to repay the loan now depends on on the private mortgage lender that issues your VA-backed loan. Along with some general VA loan requirements, the lender will consider several factors.

  • Applicant Credit Score: VA borrowers usually need to have a credit score of 620 or better, although some lenders are rumored to lend down to a 580 from time to time. Additionally, Rhode Island VA loan rates often depend on an applicant’s credit score.
  • Income: Lenders will verify your income for the past 2 years to ensure you are earning enough to pay your monthly mortgage payment. VA loans employ two methods of evaluating applicant income to determine how much mortgage they can afford, known as the Debt-to-Income Ratio and the Residual Income method. Of course, you should be asking yourself how much mortgage can I afford before applying for any home loan.
  • Applicant Debt-To Income Ratio (DTI): Your debt-to-income ratio compares your monthly debt payments to your monthly income. VA even allows the lender to approve them at a higher DTI if they have other compensating factors. While there’s no limit on VA loan programs for 2022, its ultimately up to your lender and your personal circumstances to determine how much you can borrow.

You can search for an approved VA lender in Rhode Island, including in the following cities and towns here:

Barrington, Bristol, Burrillville, Central Falls, Charlestown, Coventry, Cranston, Cumberland, Cumberland Hill, East Greenwich, East Providence, Exeter, Glocester, Greenville, Hopkinton, Jamestown, Johnston, Kingston, Lincoln, Middletown, Narragansett, Newport, Newport East, North Kingstown, North Providence, North Smithfield, Pawtucket, Portsmouth, Providence, Richmond, Scituate, Smithfield, South Kingstown, Tiverton, Tiverton (CDP), Valley Falls, Warren, Warwick, Westerly, Westerly (CDP), West Greenwich, West Warwick, Woonsocket

How do I determine my entitlement level?

The VA Certificate of Eligibility, or COE, is what informs lenders of an applicant’s eligibility for a VA loan. It also indicates your level of entitlement. The COE helps the VA and your lender to communicate. Your COE may not make much sense at first glance. As an example, if a COE reflects a basic entitlement of $36,000, that number shows how much loan insurance the VA offers through the VA guarantee, rather than your potential borrowing potential. This VA insurance reduces the risk for the lender and eliminates the need to make a down payment or monthly mortgage insurance payments. The VA covers 25% of the amount you borrow on your home loan, regardless of how much it is approved by the lender. You may also want to refer to a VA loan calculator to help figure out your entitlement and potential borrowing power.

What does full entitlement refer to?

The maximum VA home loan benefits you’re eligible for is known as full entitlement. If you’re a first-time home buyer or it’s you’re first time using a VA loan, you’re likely to have a full entitlement. If you’ve used your VA benefits before, you may still be eligible for a full entitlement if the loan is fully repaid and your benefit is restored. Otherwise, you may be a borrowers that’s eligible for partial entitlement. That may be the case for someone who used an Rhode Island VA loan to purchase a home a few years back and is still paying that loan off. With a partial entitlement, an applicant may still be eligible for a VA loan but the mortgage must not exceed their local max loan amount for VA financing. There are other caveats that may apply related to your VA home loan entitlement eligibility. As an example, current VA loan holders or former borrowers who have been foreclosed will not be eligible for their full entitlement. You won’t get your full entitlement if you’ve short-sold a VA-backed loan which the VA had to reimburse. In fact, if you’ve had a foreclosure or short-sale in your past, you might not be eligible to receive another VA loan at all.

What is the maximum amount I can borrow if I have partial eligibility?

Since 2020, specific RI VA loan limits only apply to partial entitlement. Those mortgage limits are identical to the conventional conforming loan limit for a particular area. Conventional loan limits are set by the Federal Housing Finance Agency (FHFA) each year. The loan limits will depend on where you live and the property you purchase. They are determined based on local home prices. This FHFA map will show you the loan limits for your county. It’s not difficult to determine your county’s loan limit. However, it can be complicated to calculate how this limit will affect your home loan. To determine if you will need a downpayment on the VA loan, lenders use a complex equation. You can read our guide on buying an additional house with a VA loan. Talk to a VA lender if you only want to find out how much house you could afford using a VA loan. In just a few minutes, they can calculate your home’s potential price and look up your COE.

Rhode Island VA Home Loan Limits 2022 Map (for partial eligibility applicants)

Rhode Island VA County Loan Limits 2022 (for partial eligibility applicants)

County Name
Limit
BRISTOL$426,650
KENT$426,650
NEWPORT$426,650
PROVIDENCE$426,650
WASHINGTON$426,650

VA Loan FAQs

Can closing costs be included in a VA Loan?

If you don’t have enough funds to cover closing costs on your new home, you can include certain costs in your VA loan. You also have the option to roll your funding fee into your total mortgage amount. As for the fees that can’t be rolled into your mortgage per VA loan qualifications, you may still be eligible for seller or lender concessions that will lower the upfront cash cost.

What are the closing costs for a VA loan?

Borrowers generally pay different closing costs depending on where they live and the particulars of their transaction you have. Closing costs are often within the range of 3% and 5% of the total mortgage amount.

Who pays the closing costs of a VA loan?

The closing costs of a VA loan are generally split between the seller and buyer, however the seller costs must not exceed 4% of the total loan amount. The seller’s share usually includes the commission for real estate agents.

You, as the buyer, are responsible for the VA funding fee, origination fee and discount points, VA appraisal fee, title fees, and other costs, some of which can be financed. Fortunately, VA home loan requirements establish limitations on costs for home buyers, and also help you keep costs down by limiting the origination fee.

Michigan VA Loan Limits

VA Loans in Michigan

Did you know you may be eligible for a zero-down loan without any maximum limit if you are a veteran or military service member in Michigan? In 2020, the VA eliminated all limits for VA loans in Michigan VA loans for most borrowers. This means that first-time VA homebuyers and those with full entitlements can borrow as much money as the lenders will allow. The amount of your Michigan VA home loan will now depend more on your financial status than the local housing market. VA loan limits are also still available for homebuyers with VA loans or partial entitlement. You may qualify if you are one of the 549,526 veterans living in Michigan, active-duty servicemember or eligible surviving spouse of a military member.

There’s no Michigan VA loan limits in 2022 for those with full entitlement

The Department of Veterans Affairs eliminated MI VA home loan limits for fully-qualified borrowers in 2020. That means you can borrow more because you don’t have to worry about finding a house within your local limits. As such, VA home loans now have increased appeal since removing the loan limit requirement. This is especially true when compared to other government mortgage loans. FHA loans, also government-backed, have loan limitations that are based on local housing prices. In most areas across the country, the FHA limit for 2022 is $420,680. Loan limits also apply to conforming conventional mortgages, which are insured by Fannie Mae or Freddie Mac rather than a government agency. All that being said, it’s important to remember that just because qualified applicants don’t have to meet any VA loan limit in Michigan doesn’t mean that you can purchase a home at any price.

Lenders now decide how much loan you can afford

Your ability to repay the loan now depends on on the private mortgage lender that issues your VA-backed loan. Along with some general VA loan requirements, the lender will consider several factors.

  • Applicant Credit Score: VA borrowers usually need to have a credit score of 620 or better, although some lenders are rumored to lend down to a 580 from time to time. Additionally, Michigan VA loan rates often depend on an applicant’s credit score.
  • Income: Lenders will verify your income for the past 2 years to ensure you are earning enough to pay your monthly mortgage payment. VA loans employ two methods of evaluating applicant income to determine how much mortgage they can afford, known as the Debt-to-Income Ratio and the Residual Income method. Of course, you should be asking yourself how much mortgage can I afford before applying for any home loan.
  • Applicant Debt-To Income Ratio (DTI): Your debt-to-income ratio compares your monthly debt payments to your monthly income. VA even allows the lender to approve them at a higher DTI if they have other compensating factors. While there’s no limit on VA loan programs for 2022, its ultimately up to your lender and your personal circumstances to determine how much you can borrow.

You can search for an approved VA lender in Michigan, including in the following cities and towns here:

Ada, Addison, Adrian, Adrian (Township), Albion, Algoma, Allegan, Allendale, Allendale (Charter Township), Allen Park, Alma, Almena, Almont (Township), Alpena, Alpena (Township), Alpine, Ann Arbor, Antwerp, Argentine (Township), Armada (Township), Ash, Atlas, Auburn Hills, Augusta, Bagley, Bangor, Bath (Charter Township), Battle Creek, Bay City, Bear Creek, Bedford, Bedford, Beecher, Belding, Benton, Benton Harbor, Berkley, Berlin, Berrien, Beverly Hills, Big Rapids, Birch Run (Township), Birmingham, Blackman, Blair, Blendon, Bloomfield, Boston, Brandon, Breitung, Bridgeport, Bridgeport (Charter Township), Brighton, Brighton (Township), Brownstown, Bruce, Buena Vista, Buena Vista (Charter Township), Burton, Byron, Byron Center, Cadillac, Caledonia (Township), Calumet (Charter Township), Cambridge, Cannon, Canton, Carrollton, Cascade, Center Line, Charlotte, Chelsea, Chesterfield, Chocolay, Clawson, Clay, Clayton, Clinton, Clyde, Coldwater, Columbia, Commerce, Comstock, Comstock Northwest, Comstock Park, Cooper, Courtland, Cutlerville, Dalton, Davison (Township), Dearborn, Dearborn Heights, Deerfield, Delhi, Delta, Denton, Detroit, DeWitt (Charter Township), Dexter (Township), Dorr (Township), Dowagiac, Dundee (Township), East Bay, East Grand Rapids, East Lansing, Eastpointe, Eastwood, Eaton Rapids, Ecorse, Egelston, Elba, Emmett, Escanaba, Fair Plain, Farmington, Farmington Hills, Fenton, Fenton (Charter Township), Ferndale, Flat Rock, Flint, Flint (Charter Township), Flushing, Flushing (Charter Township), Forest Hills, Forsyth, Fort Gratiot, Frankenmuth, Fraser, Freeland, Frenchtown, Fruitland, Fruitport (Charter Township), Gaines, Gaines (Township), Garden City, Garfield, Genesee, Genoa, Georgetown, Grand Blanc, Grand Blanc (Charter Township), Grand Haven, Grand Haven (Charter Township), Grand Ledge, Grand Rapids, Grand Rapids (Charter Township), Grandville, Grass Lake (Charter Township), Grayling (Charter Township), Green Lake, Green Oak, Greenville, Grosse Ile, Grosse Pointe, Grosse Pointe Farms, Grosse Pointe Park, Grosse Pointe Woods, Groveland, Gun Plain, Hamburg, Hampton, Hamtramck, Handy, Harper Woods, Harrison, Hartland (Township), Haslett, Hastings, Hazel Park, Highland, Highland Park, Hillsdale, Holland, Holland (Charter Township), Holly, Holly (Township), Holt, Houghton, Howard, Howell, Howell (Township), Hudsonville, Huntington Woods, Huron, Independence, Inkster, Ionia, Ira, Iron Mountain, Ishpeming, Jackson, Jamestown, Jenison, Kalamazoo, Kalamazoo (Charter Township), Kentwood, Kimball, Kinross, Lake Fenton, Laketon, Laketown, Lambertville, Lansing, Lansing (Charter Township), Lapeer, Lapeer (Township), Larkin, Leighton, Lenox, Leoni, Lincoln, Lincoln Park, Livonia, Lodi, Long Lake, Lowell (Charter Township), Ludington, Lyon, Macomb, Madison, Madison Heights, Manistee, Marion, Marquette, Marshall, Marysville, Mason, Mayfield, Melvindale, Menominee, Meridian, Midland, Milan, Milford, Milford (Charter Township), Monitor, Monroe, Monroe (Charter Township), Montrose (Charter Township), Mount Clemens, Mount Morris (Township), Mount Pleasant, Mundy, Muskegon, Muskegon (Charter Township), Muskegon Heights, Napoleon (Township), Nelson, New Baltimore, New Haven, Niles, Niles (Township), Northfield, Northview, Northville, Northville (Township), Norton Shores, Novi, Oakfield, Oakland, Oak Park, Oceola, Okemos, Olive, Ontwa, Oregon, Orion, Oronoko, Oscoda (Charter Township), Oshtemo, Otsego (Township), Owosso, Oxford (Charter Township), Paradise, Park, Pavilion, Paw Paw (Township), Peninsula, Pennfield, Petoskey, Pittsfield, Plainfield, Plymouth, Plymouth (Charter Township), Pontiac, Portage, Port Huron, Port Huron (Charter Township), Putnam, Raisin, Raisinville, Redford, Reynolds, Richfield, Richland (Township), Richmond, River Rouge, Riverview, Robinson, Rochester, Rochester Hills, Rockford, Romulus, Rose, Roseville, Royal Oak, Saginaw, Saginaw (Charter Township), Salem, Salem, Saline, Sault Ste. Marie, Schoolcraft (Township), Scio, Shelby, Shields, Solon, Southfield, Southfield (Township), Southgate, South Lyon, South Monroe, Sparta (Township), Spring Arbor (Township), Springfield, Springfield, Spring Lake (Township), St. Clair, St. Clair Shores, St. Clair (Township), Sterling Heights, St. Johns, St. Joseph, St. Joseph (Charter Township), St. Louis, Sturgis, Summit, Sumpter, Superior, Swartz Creek, Tallmadge, Taylor, Tecumseh, Temperance, Texas, Thetford, Thomas, Thornapple, Three Rivers, Tittabawassee, Traverse City, Trenton, Troy, Tyrone, Tyrone, Union, Utica, Van Buren, Vienna, Walker, Walled Lake, Warren, Washington, Waterford, Watertown, Waverly, Wayne, Webster, West Bloomfield, Westland, Westwood, White Lake, Whitmore Lake, Williamstown, Windsor, Wixom, Woodhaven, Wyandotte, Wyoming, York, Ypsilanti, Ypsilanti (Charter Township), Zeeland, Zeeland (Charter Township)

How do I determine my entitlement level?

The VA Certificate of Eligibility, or COE, is what informs lenders of an applicant’s eligibility for a VA loan. It also indicates your level of entitlement. The COE helps the VA and your lender to communicate. Your COE may not make much sense at first glance. As an example, if a COE reflects a basic entitlement of $36,000, that number shows how much loan insurance the VA offers through the VA guarantee, rather than your potential borrowing potential. This VA insurance reduces the risk for the lender and eliminates the need to make a down payment or monthly mortgage insurance payments. The VA covers 25% of the amount you borrow on your home loan, regardless of how much it is approved by the lender. You may also want to refer to a VA loan calculator to help figure out your entitlement and potential borrowing power.

What does full entitlement refer to?

The maximum VA home loan benefits you’re eligible for is known as full entitlement. If you’re a first-time home buyer or it’s you’re first time using a VA loan, you’re likely to have a full entitlement. If you’ve used your VA benefits before, you may still be eligible for a full entitlement if the loan is fully repaid and your benefit is restored. Otherwise, you may be a borrowers that’s eligible for partial entitlement. That may be the case for someone who used an Michigan VA loan to purchase a home a few years back and is still paying that loan off. With a partial entitlement, an applicant may still be eligible for a VA loan but the mortgage must not exceed their local max loan amount for VA financing. There are other caveats that may apply related to your VA home loan entitlement eligibility. As an example, current VA loan holders or former borrowers who have been foreclosed will not be eligible for their full entitlement. You won’t get your full entitlement if you’ve short-sold a VA-backed loan which the VA had to reimburse. In fact, if you’ve had a foreclosure or short-sale in your past, you might not be eligible to receive another VA loan at all.

What is the maximum amount I can borrow if I have partial eligibility?

Since 2020, specific MI VA loan limits only apply to partial entitlement. Those mortgage limits are identical to the conventional conforming loan limit for a particular area. Conventional loan limits are set by the Federal Housing Finance Agency (FHFA) each year. The loan limits will depend on where you live and the property you purchase. They are determined based on local home prices. This FHFA map will show you the loan limits for your county. It’s not difficult to determine your county’s loan limit. However, it can be complicated to calculate how this limit will affect your home loan. To determine if you will need a downpayment on the VA loan, lenders use a complex equation. You can read our guide on buying an additional house with a VA loan. Talk to a VA lender if you only want to find out how much house you could afford using a VA loan. In just a few minutes, they can calculate your home’s potential price and look up your COE.

Michigan VA Home Loan Limits 2022 Map (for partial eligibility applicants)

Michigan VA County Loan Limits 2022 (for partial eligibility applicants)

County Name
Limit
ALCONA$424,100
ALGER$424,100
ALLEGAN$424,100
ALPENA$424,100
ANTRIM$424,100
ARENAC$424,100
BARAGA$424,100
BARRY$424,100
BAY$424,100
BENZIE$424,100
BERRIEN$424,100
BRANCH$424,100
CALHOUN$424,100
CASS$424,100
CHARLEVOIX$424,100
CHEBOYGAN$424,100
CHIPPEWA$424,100
CLARE$424,100
CLINTON$424,100
CRAWFORD$424,100
DELTA$424,100
DICKINSON$424,100
EATON$424,100
EMMET$424,100
GENESEE$424,100
GLADWIN$424,100
GOGEBIC$424,100
GRAND TRAVERSE$424,100
GRATIOT$424,100
HILLSDALE$424,100
HOUGHTON$424,100
HURON$424,100
INGHAM$424,100
IONIA$424,100
IOSCO$424,100
IRON$424,100
ISABELLA$424,100
JACKSON$424,100
KALAMAZOO$424,100
KALKASKA$424,100
KENT$424,100
KEWEENAW$424,100
LAKE$424,100
LAPEER$424,100
LEELANAU$424,100
LENAWEE$424,100
LIVINGSTON$424,100
LUCE$424,100
MACKINAC$424,100
MACOMB$424,100
MANISTEE$424,100
MARQUETTE$424,100
MASON$424,100
MECOSTA$424,100
MENOMINEE$424,100
MIDLAND$424,100
MISSAUKEE$424,100
MONROE$424,100
MONTCALM$424,100
MONTMORENCY$424,100
MUSKEGON$424,100
NEWAYGO$424,100
OAKLAND$424,100
OCEANA$424,100
OGEMAW$424,100
ONTONAGON$424,100
OSCEOLA$424,100
OSCODA$424,100
OTSEGO$424,100
OTTAWA$424,100
PRESQUE ISLE$424,100
ROSCOMMON$424,100
SAGINAW$424,100
SANILAC$424,100
SCHOOLCRAFT$424,100
SHIAWASSEE$424,100
ST. CLAIR$424,100
ST. JOSEPH$424,100
TUSCOLA$424,100
VAN BUREN$424,100
WASHTENAW$424,100
WAYNE$424,100
WEXFORD$424,100

VA Loan FAQs

Can closing costs be included in a VA Loan?

If you don’t have enough funds to cover closing costs on your new home, you can include certain costs in your VA loan. You also have the option to roll your funding fee into your total mortgage amount. As for the fees that can’t be rolled into your mortgage per VA loan qualifications, you may still be eligible for seller or lender concessions that will lower the upfront cash cost.

What are the closing costs for a VA loan?

Borrowers generally pay different closing costs depending on where they live and the particulars of their transaction you have. Closing costs are often within the range of 3% and 5% of the total mortgage amount.

Who pays the closing costs of a VA loan?

The closing costs of a VA loan are generally split between the seller and buyer, however the seller costs must not exceed 4% of the total loan amount. The seller’s share usually includes the commission for real estate agents.

You, as the buyer, are responsible for the VA funding fee, origination fee and discount points, VA appraisal fee, title fees, and other costs, some of which can be financed. Fortunately, VA home loan requirements establish limitations on costs for home buyers, and also help you keep costs down by limiting the origination fee.

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