va mortgage

Alaska VA Loan Limits

By Spencer Llewellyn at 12:44 am on January 5, 2023
VA Loans in Alaska

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 Alaska? In 2020, the VA eliminated all limits for VA loans in Alaska 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 Alaska 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 65,186 veterans living in Alaska, active-duty servicemember or eligible surviving spouse of a military member.

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

The Department of Veterans Affairs eliminated AK 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 Alaska 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, Alaska 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 Alaska, including in the following cities and towns here:

Anchorage, Badger, Bethel, Chena Ridge, College, Fairbanks, Farmers Loop, Fishhook, Gateway, Homer, Juneau, Kalifornsky, Kenai, Ketchikan, Knik-Fairview, Kodiak, Meadow Lakes, Palmer, Sitka, Steele Creek, Sterling, Tanaina, Wasilla

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 Alaska 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 AK 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.

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

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

County Name
Limit
ALEUTIANS EAST$636,150
ALEUTIANS WEST$636,150
ANCHORAGE$636,150
BETHEL$636,150
BRISTOL BAY$636,150
DENALI$636,150
DILLINGHAM$636,150
FAIRBANKS NORTH$636,150
HAINES$636,150
HOONAH-ANGOON C$636,150
JUNEAU$636,150
KENAI PENINSULA$636,150
KETCHIKAN GATEW$636,150
KODIAK ISLAND$636,150
KUSILVAK CENSUS AREA$636,150
LAKE AND PENINS$636,150
MATANUSKA-SUSIT$636,150
NOME$636,150
NORTH SLOPE$636,150
NORTHWEST ARCTI$636,150
PETERSBURG CENS$636,150
PRINCE OF WALES$636,150
SITKA$636,150
SKAGWAY MUNICIP$636,150
SOUTHEAST FAIRB$636,150
VALDEZ-CORDOVA$636,150
WRANGELL CITY A$636,150
YAKUTAT CITY$636,150
YUKON-KOYUKUK$636,150

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.

Arizona VA Loan Limits

By Spencer Llewellyn at 12:44 am on January 5, 2023
VA Loans in Arizona

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 Arizona? In 2020, the VA eliminated all limits for VA loans in Arizona 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 Arizona 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 488,061 veterans living in Arizona, active-duty servicemember or eligible surviving spouse of a military member.

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

The Department of Veterans Affairs eliminated AZ 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 Arizona 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, Arizona 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 Arizona, including in the following cities and towns here:

Anthem, Apache Junction, Arizona City, Avondale, Avra Valley, Bisbee, Buckeye, Bullhead City, Camp Verde, Casa Grande, Casas Adobes, Catalina, Catalina Foothills, Cave Creek, Chandler, Chino Valley, Citrus Park, Coolidge, Corona de Tucson, Cottonwood, Doney Park, Douglas, Drexel Heights, El Mirage, Eloy, Flagstaff, Florence, Flowing Wells, Fort Mohave, Fortuna Foothills, Fountain Hills, Gilbert, Glendale, Globe, Gold Canyon, Golden Valley, Goodyear, Green Valley, Guadalupe, Holbrook, Kayenta, Kingman, Lake Havasu City, Litchfield Park, Marana, Maricopa, Mesa, New Kingman-Butler, New River, Nogales, Oro Valley, Page, Paradise Valley, Paulden, Payson, Peoria, Phoenix, Picture Rocks, Prescott, Prescott Valley, Queen Creek, Rincon Valley, Rio Rico, Saddlebrooke, Safford, Sahuarita, San Luis, San Tan Valley, Scottsdale, Sedona, Show Low, Sierra Vista, Sierra Vista Southeast, Snowflake, Somerton, South Tucson, Sun City, Sun City West, Sun Lakes, Surprise, Tanque Verde, Tempe, Thatcher, Tolleson, Tuba City, Tucson, Tucson Estates, Vail, Valencia West, Verde Village, Village of Oak Creek (Big Park), Wickenburg, Williamson, Winslow, Youngtown, Yuma

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 Arizona 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 AZ 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.

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

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

County Name
Limit
APACHE$424,100
COCHISE$424,100
COCONINO$424,100
GILA$424,100
GRAHAM$424,100
GREENLEE$424,100
LA PAZ$424,100
MARICOPA$424,100
MOHAVE$424,100
NAVAJO$424,100
PIMA$424,100
PINAL$424,100
SANTA CRUZ$424,100
YAVAPAI$424,100
YUMA$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.

District of Columbia VA Loan Limits

By Spencer Llewellyn at 12:44 am on January 5, 2023
VA Loans in DC

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 District of Columbia? In 2020, the VA eliminated all limits for VA loans in District of Columbia 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 District of Columbia 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 26,156 veterans living in District of Columbia, active-duty servicemember or eligible surviving spouse of a military member.

There’s no District of Columbia VA loan limits in 2022 for those with full entitlement

The Department of Veterans Affairs eliminated DC 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 District of Columbia 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, District of Columbia 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 District of Columbia, including in the following cities and towns here:

District of Columbia

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 District of Columbia 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 DC 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.

District of Columbia VA Home Loan Limits 2022 Map (for partial eligibility applicants)

District of Columbia VA County Loan Limits 2022 (for partial eligibility applicants)

County Name
Limit
DISTRICT OF COL$636,150

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.

Arkansas VA Loan Limits

By Spencer Llewellyn at 12:44 am on January 5, 2023
VA Loans in Arkansas

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 Arkansas? In 2020, the VA eliminated all limits for VA loans in Arkansas 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 Arkansas 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 197,138 veterans living in Arkansas, active-duty servicemember or eligible surviving spouse of a military member.

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

The Department of Veterans Affairs eliminated AR 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 Arkansas 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, Arkansas 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 Arkansas, including in the following cities and towns here:

Alma, Arkadelphia, Barling, Batesville, Beebe, Bella Vista, Benton, Bentonville, Berryville, Blytheville, Bryant, Cabot, Camden, Cave Springs, Centerton, Clarksville, Conway, De Queen, East End, El Dorado, Farmington, Fayetteville, Forrest City, Fort Smith, Greenbrier, Greenwood, Harrison, Heber Springs, Helena-West Helena, Hope, Hot Springs, Hot Springs Village, Jacksonville, Jonesboro, Little Rock, Lowell, Magnolia, Malvern, Marion, Maumelle, Mena, Monticello, Morrilton, Mountain Home, Newport, North Little Rock, Osceola, Paragould, Pea Ridge, Pine Bluff, Pocahontas, Prairie Grove, Rogers, Russellville, Searcy, Sheridan, Sherwood, Siloam Springs, Springdale, Stuttgart, Texarkana, Tontitown, Trumann, Van Buren, Walnut Ridge, Ward, Warren, West Memphis, Wynn

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 Arkansas 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 AR 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.

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

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

County Name
Limit
ARKANSAS$424,100
ASHLEY$424,100
BAXTER$424,100
BENTON$424,100
BOONE$424,100
BRADLEY$424,100
CALHOUN$424,100
CARROLL$424,100
CHICOT$424,100
CLARK$424,100
CLAY$424,100
CLEBURNE$424,100
CLEVELAND$424,100
COLUMBIA$424,100
CONWAY$424,100
CRAIGHEAD$424,100
CRAWFORD$424,100
CRITTENDEN$424,100
CROSS$424,100
DALLAS$424,100
DESHA$424,100
DREW$424,100
FAULKNER$424,100
FRANKLIN$424,100
FULTON$424,100
GARLAND$424,100
GRANT$424,100
GREENE$424,100
HEMPSTEAD$424,100
HOT SPRING$424,100
HOWARD$424,100
INDEPENDENCE$424,100
IZARD$424,100
JACKSON$424,100
JEFFERSON$424,100
JOHNSON$424,100
LAFAYETTE$424,100
LAWRENCE$424,100
LEE$424,100
LINCOLN$424,100
LITTLE RIVER$424,100
LOGAN$424,100
LONOKE$424,100
MADISON$424,100
MARION$424,100
MILLER$424,100
MISSISSIPPI$424,100
MONROE$424,100
MONTGOMERY$424,100
NEVADA$424,100
NEWTON$424,100
OUACHITA$424,100
PERRY$424,100
PHILLIPS$424,100
PIKE$424,100
POINSETT$424,100
POLK$424,100
POPE$424,100
PRAIRIE$424,100
PULASKI$424,100
RANDOLPH$424,100
SALINE$424,100
SCOTT$424,100
SEARCY$424,100
SEBASTIAN$424,100
SEVIER$424,100
SHARP$424,100
ST. FRANCIS$424,100
STONE$424,100
UNION$424,100
VAN BUREN$424,100
WASHINGTON$424,100
WHITE$424,100
WOODRUFF$424,100
YELL$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.

California VA Loan Limits

By Spencer Llewellyn at 12:44 am on January 5, 2023
VA Loans in California

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 California? In 2020, the VA eliminated all limits for VA loans in California 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 California 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 1,574,531 veterans living in California, active-duty servicemember or eligible surviving spouse of a military member.

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

The Department of Veterans Affairs eliminated CA 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 California 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, California 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 California, including in the following cities and towns here:

Acton, Adelanto, Agoura Hills, Alameda, Alamo, Albany, Alhambra, Aliso Viejo, Alondra Park, Alpine, Altadena, Alta Sierra, Alum Rock, American Canyon, Anaheim, Anderson, Antelope, Antioch, Apple Valley, Aptos, Arcadia, Arcata, Arden-Arcade, Arroyo Grande, Artesia, Arvin, Ashland, Atascadero, Atherton, Atwater, Auburn, August, Avenal, Avocado Heights, Azusa, Bakersfield, Baldwin Park, Banning, Barstow, Bay Point, Bear Valley Springs, Beaumont, Bell, Bellflower, Bell Gardens, Belmont, Benicia, Ben Lomond, Berkeley, Bermuda Dunes, Beverly Hills, Big Bear City, Big Bear Lake, Blackhawk, Bloomington, Blythe, Bonita, Bostonia, Boulder Creek, Boyes Hot Springs, Brawley, Brea, Brentwood, Bret Harte, Broadmoor, Buellton, Buena Park, Burbank, Burbank, Burlingame, Calabasas, Calexico, California City, Calimesa, Calipatria, Calistoga, Camarillo, Cambria, Cameron Park, Campbell, Camp Pendleton South, Canyon Lake, Capitola, Carlsbad, Carmichael, Carpinteria, Carson, Casa de Oro-Mount Helix, Castaic, Castro Valley, Castroville, Cathedral City, Ceres, Cerritos, Charter Oak, Cherryland, Cherry Valley, Chico, Chino, Chino Hills, Chowchilla, Chula Vista, Citrus, Citrus Heights, Claremont, Clayton, Clearlake, Cloverdale, Clovis, Coachella, Coalinga, Colton, Colusa, Commerce, Compton, Concord, Contra Costa Centre, Corcoran, Corning, Corona, Coronado, Corte Madera, Costa Mesa, Cotati, Coto de Caza, Country Club, Covina, Crescent City, Crestline, Cudahy, Culver City, Cupertino, Cutler, Cypress, Daly City, Dana Point, Danville, Davis, Del Aire, Delano, Delhi, Denair, Desert Hot Springs, Desert Palms, Diamond Bar, Diamond Springs, Dinuba, Discovery Bay, Dixon, Dos Palos, Downey, Duarte, Dublin, Durham, Earlimart, East Foothills, East Hemet, East Los Angeles, East Palo Alto, East Pasadena, East Porterville, East Rancho Dominguez, East San Gabriel, Eastvale, East Whittier, El Cajon, El Centro, El Cerrito, El Cerrito, El Dorado Hills, El Granada, Elk Grove, El Monte, El Paso de Robles (Paso Robles), El Rio, El Segundo, El Sobrante, El Sobrante, Elverta, Emeryville, Encinitas, Escalon, Escondido, Eucalyptus Hills, Eureka, Exeter, Fairfax, Fairfield, Fair Oaks, Fairview, Fallbrook, Farmersville, Fillmore, Firebaugh, Florence-Graham, Florin, Folsom, Fontana, Foothill Farms, Fort Bragg, Fort Irwin, Fortuna, Foster City, Fountain Valley, Fowler, Franklin, Fremont, French Valley, Fresno, Fruitridge Pocket, Fullerton, Galt, Gardena, Garden Acres, Garden Grove, Garnet, Gilroy, Glendale, Glendora, Golden Hills, Gold River, Goleta, Gonzales, Good Hope, Grand Terrace, Granite Bay, Grass Valley, Greenacres, Greenfield, Gridley, Grover Beach, Guadalupe, Guerneville, Gustine, Hacienda Heights, Half Moon Bay, Hanford, Hawaiian Gardens, Hawthorne, Hayward, Healdsburg, Hemet, Hercules, Hermosa Beach, Hesperia, Hidden Valley Lake, Highgrove, Highland, Hillsborough, Hilmar-Irwin, Hollister, Holtville, Home Gardens, Homeland, Hughson, Huntington Beach, Huntington Park, Huron, Imperial, Imperial Beach, Indian Wells, Indio, Inglewood, Interlaken, Ione, Irvine, Isla Vista, Jamul, Joshua Tree, Jurupa Valley, Kensington, Kentfield, Kerman, Keyes, King City, Kingsburg, La Cañada Flintridge, La Crescenta-Montrose, Ladera Heights, Ladera Ranch, Lafayette, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, La Habra, La Habra Heights, Lake Arrowhead, Lake Elsinore, Lake Forest, Lakeland Village, Lake Los Angeles, Lake Mathews, Lakeside, Lake Wildwood, Lakewood, La Mesa, La Mirada, Lamont, Lancaster, La Palma, La Presa, La Puente, La Quinta, La Riviera, Larkfield-Wikiup, Larkspur, Las Flores, Lathrop, La Verne, Lawndale, Lemon Grove, Lemon Hill, Lemoore, Lemoore Station, Lennox, Lincoln, Linda, Lindsay, Live Oak, Live Oak, Livermore, Livingston, Lodi, Loma Linda, Lomita, Lompoc, Long Beach, Loomis, Los Alamitos, Los Altos, Los Altos Hills, Los Angeles, Los Banos, Los Gatos, Los Osos, Lucas Valley-Marinwood, Lucerne Valley, Lynwood, Madera, Madera Acres, Magalia, Malibu, Mammoth Lakes, Manhattan Beach, Manteca, Marina, Marina del Rey, Martinez, Marysville, Mayflower Village, Maywood, McFarland, McKinleyville, Mead Valley, Mecca, Mendota, Menifee, Menlo Park, Mentone, Merced, Midway City, Millbrae, Mill Valley, Milpitas, Mira Monte, Mission Viejo, Modesto, Monrovia, Montclair, Montebello, Montecito, Monterey, Monterey Park, Moorpark, Moraga, Moreno Valley, Morgan Hill, Morro Bay, Mountain House, Mountain View, Murrieta, Muscoy, Myrtletown, Napa, National City, Newark, Newman, Newport Beach, Nipomo, Norco, North Auburn, North Fair Oaks, North Highlands, North Tustin, Norwalk, Novato, Nuevo, Oakdale, Oak Hills, Oakland, Oakley, Oak Park, Oceano, Oceanside, Oildale, Ojai, Old Fig Garden, Olivehurst, Ontario, Orange, Orange Cove, Orangevale, Orcutt, Orinda, Orland, Orosi, Oroville, Oroville East, Oxnard, Pacifica, Pacific Grove, Palermo, Palmdale, Palm Desert, Palm Springs, Palo Alto, Palos Verdes Estates, Paramount, Parkway, Parlier, Pasadena, Patterson, Perris, Petaluma, Phelan, Pico Rivera, Piedmont, Pinole, Piñon Hills, Pismo Beach, Pittsburg, Placentia, Placerville, Pleasant Hill, Pleasanton, Pleasure Point, Plumas Lake, Pollock Pines, Pomona, Porterville, Port Hueneme, Poway, Prunedale, Quartz Hill, Ramona, Rancho Calaveras, Rancho Cordova, Rancho Cucamonga, Rancho Mirage, Rancho Murieta, Rancho Palos Verdes, Rancho San Diego, Rancho Santa Margarita, Red Bluff, Redding, Redlands, Redondo Beach, Redwood City, Reedley, Rialto, Richmond, Ridgecrest, Rio del Mar, Rio Linda, Rio Vista, Ripon, Riverbank, Riverside, Rocklin, Rodeo, Rohnert Park, Rolling Hills Estates, Rosamond, Rosedale, Rosemead, Rosemont, Roseville, Rossmoor, Rowland Heights, Sacramento, Salida, Salinas, Salton City, San Anselmo, San Bernardino, San Bruno, San Buenaventura (Ventura), San Carlos, San Clemente, San Diego, San Diego Country Estates, San Dimas, San Fernando, San Francisco, San Gabriel, Sanger, San Jacinto, San Jose, San Juan Capistrano, San Leandro, San Lorenzo, San Luis Obispo, San Marcos, San Marino, San Martin, San Mateo, San Pablo, San Rafael, San Ramon, Santa Ana, Santa Barbara, Santa Clara, Santa Clarita, Santa Cruz, Santa Fe Springs, Santa Maria, Santa Monica, Santa Paula, Santa Rosa, Santee, Saranap, Saratoga, Sausalito, Scotts Valley, Seal Beach, Seaside, Sebastopol, Selma, Shafter, Shasta Lake, Sierra Madre, Signal Hill, Silver Lakes, Simi Valley, Solana Beach, Soledad, Solvang, Sonoma, Soquel, South El Monte, South Gate, South Lake Tahoe, South Monrovia Island, South Pasadena, South San Francisco, South San Gabriel, South San Jose Hills, South Whittier, Spring Valley, Spring Valley Lake, Stanford, Stanton, Stevenson Ranch, St. Helena, Stockton, Strawberry, Suisun City, Sunnyvale, Sun Village, Susanville, Taft, Tamalpais-Homestead Valley, Tara Hills, Tehachapi, Temecula, Temescal Valley, Temple City, Templeton, Thermalito, Thousand Oaks, Thousand Palms, Tiburon, Topanga, Torrance, Tracy, Truckee, Tulare, Turlock, Tustin, Twentynine Palms, Twin Lakes, Ukiah, Union City, University of California-Davis, Upland, Vacaville, Valinda, Vallejo, Valle Vista, Valley Center, Vandenberg Village, Victorville, View Park-Windsor Hills, Villa Park, Vincent, Vineyard, Visalia, Vista, Walnut, Walnut Creek, Walnut Park, Wasco, Waterford, Watsonville, West Athens, West Carson, West Covina, West Hollywood, Westlake Village, Westminster, West Modesto, Westmont, West Puente Valley, West Rancho Dominguez, West Sacramento, West Whittier-Los Nietos, Whittier, Wildomar, Williams, Willowbrook, Willows, Wilton, Windsor, Winter Gardens, Winters, Winton, Woodcrest, Woodlake, Woodland, Woodside, Yorba Linda, Yosemite Lakes, Yreka, Yuba City, Yucaipa, Yucca Valley

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 California 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 CA 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.

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

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

County Name
Limit
ALAMEDA$636,150
ALPINE$463,450
AMADOR$424,100
BUTTE$424,100
CALAVERAS$424,100
COLUSA$424,100
CONTRA COSTA$636,150
DEL NORTE$424,100
EL DORADO$488,750
FRESNO$424,100
GLENN$424,100
HUMBOLDT$424,100
IMPERIAL$424,100
INYO$424,100
KERN$424,100
KINGS$424,100
LAKE$424,100
LASSEN$424,100
LOS ANGELES$636,150
MADERA$424,100
MARIN$636,150
MARIPOSA$424,100
MENDOCINO$424,100
MERCED$424,100
MODOC$424,100
MONO$529,000
MONTEREY$575,000
NAPA$636,150
NEVADA$477,250
ORANGE$636,150
PLACER$488,750
PLUMAS$424,100
RIVERSIDE$424,100
SACRAMENTO$488,750
SAN BENITO$636,150
SAN BERNARDINO$424,100
SAN DIEGO$612,950
SAN FRANCISCO$636,150
SAN JOAQUIN$424,100
SAN LUIS OBISPO$586,500
SAN MATEO$636,150
SANTA BARBARA$625,500
SANTA CLARA$636,150
SANTA CRUZ$636,150
SHASTA$424,100
SIERRA$424,100
SISKIYOU$424,100
SOLANO$431,250
SONOMA$595,700
STANISLAUS$424,100
SUTTER$424,100
TEHAMA$424,100
TRINITY$424,100
TULARE$424,100
TUOLUMNE$424,100
VENTURA$636,150
YOLO$488,750
YUBA$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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