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 Georgia? In 2020, the VA eliminated all limits for VA loans in Georgia 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 Georgia 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 629,302 veterans living in Georgia, active-duty servicemember or eligible surviving spouse of a military member.

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

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

Acworth, Adairsville, Adel, Albany, Alpharetta, Americus, Athens, Atlanta, Auburn, Augusta, Austell, Bainbridge, Barnesville, Belvedere Park, Braselton, Bremen, Brookhaven, Brunswick, Buford, Byron, Cairo, Calhoun, Candler-McAfee, Canton, Carrollton, Cartersville, Cedartown, Centerville, Chamblee, Clarkston, Cochran, College Park, Columbus, Commerce, Conley, Conyers, Cordele, Country Club Estates, Covington, Cumming, Cusseta, Dacula, Dahlonega, Dallas, Dalton, Decatur, Dock Junction, Doraville, Douglas, Douglasville, Druid Hills, Dublin, Duluth, Dunwoody, Eastman, East Point, Eatonton, Evans, Fairburn, Fair Oaks, Fairview, Fayetteville, Fitzgerald, Flowery Branch, Folkston, Forest Park, Fort Oglethorpe, Fort Stewart, Fort Valley, Gainesville, Garden City, Georgetown, Glennville, Gresham Park, Griffin, Grovetown, Hampton, Hapeville, Hawkinsville, Hinesville, Holly Springs, Irondale, Jackson, Jefferson, Jesup, Johns Creek, Jonesboro, Kennesaw, Kingsland, LaFayette, LaGrange, Lakeview, Lawrenceville, Lilburn, Lithia Springs, Locust Grove, Loganville, Lovejoy, Mableton, Macon, Marietta, Martinez, McDonough, McRae-Helena, Milledgeville, Milton, Monroe, Morrow, Moultrie, Mountain Park, Newnan, Norcross, North Decatur, North Druid Hills, Panthersville, Peachtree City, Peachtree Corners, Perry, Pooler, Port Wentworth, Powder Springs, Redan, Richmond Hill, Rincon, Riverdale, Rome, Roswell, Sandersville, Sandy Springs, Savannah, Scottdale, Skidaway Island, Smyrna, Snellville, South Fulton, Statesboro, St. Marys, Stockbridge, Stonecrest, Stone Mountain, St. Simons, Sugar Hill, Suwanee, Swainsboro, Sylvester, Temple, Thomaston, Thomasville, Thomson, Tifton, Toccoa, Tucker, Tyrone, Union City, Valdosta, Vidalia, Villa Rica, Vinings, Warner Robins, Waycross, Waynesboro, Whitemarsh Island, Wilmington Island, Winder, Woodstock, Cusseta, Dacula, Dahlonega, Dallas, Dalton, Decatur, Dock Junction, Doraville, Douglas, Douglasville, Druid Hills, Dublin, Duluth, Dunwoody, Eastman, East Point, Eatonton, Evans, Fairburn, Fair Oaks, Fairview, Fayetteville, Fitzgerald, Flowery Branch, Folkston, Forest Park, Fort Oglethorpe, Fort Stewart, Fort Valley, Gainesville, Garden City, Georgetown, Glennville, Gresham Park, Griffin, Grovetown, Hampton, Hapeville, Hawkinsville, Hinesville, Holly Springs, Irondale, Jackson, Jefferson, Jesup, Johns Creek, Jonesboro, Kennesaw, Kingsland, LaFayette, LaGrange, Lakeview, Lawrenceville, Lilburn, Lithia Springs, Locust Grove, Loganville, Lovejoy, Mableton, Macon, Marietta, Martinez, McDonough, McRae-Helena, Milledgeville, Milton, Monroe, Morrow, Moultrie, Mountain Park, Newnan, Norcross, North Decatur, North Druid Hills, Panthersville, Peachtree City, Peachtree Corners, Perry, Pooler, Port Wentworth, Powder Springs, Redan, Richmond Hill, Rincon, Riverdale

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 Georgia 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 GA 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.

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

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

County Name
Limit
APPLING$424,100
ATKINSON$424,100
BACON$424,100
BAKER$424,100
BALDWIN$424,100
BANKS$424,100
BARROW$424,100
BARTOW$424,100
BEN HILL$424,100
BERRIEN$424,100
BIBB$424,100
BLECKLEY$424,100
BRANTLEY$424,100
BROOKS$424,100
BRYAN$424,100
BULLOCH$424,100
BURKE$424,100
BUTTS$424,100
CALHOUN$424,100
CAMDEN$424,100
CANDLER$424,100
CARROLL$424,100
CATOOSA$424,100
CHARLTON$424,100
CHATHAM$424,100
CHATTAHOOCHEE$424,100
CHATTOOGA$424,100
CHEROKEE$424,100
CLARKE$424,100
CLAY$424,100
CLAYTON$424,100
CLINCH$424,100
COBB$424,100
COFFEE$424,100
COLQUITT$424,100
COLUMBIA$424,100
COOK$424,100
COWETA$424,100
CRAWFORD$424,100
CRISP$424,100
DADE$424,100
DAWSON$424,100
DECATUR$424,100
DEKALB$424,100
DODGE$424,100
DOOLY$424,100
DOUGHERTY$424,100
DOUGLAS$424,100
EARLY$424,100
ECHOLS$424,100
EFFINGHAM$424,100
ELBERT$424,100
EMANUEL$424,100
EVANS$424,100
FANNIN$424,100
FAYETTE$424,100
FLOYD$424,100
FORSYTH$424,100
FRANKLIN$424,100
FULTON$424,100
GILMER$424,100
GLASCOCK$424,100
GLYNN$424,100
GORDON$424,100
GRADY$424,100
GREENE$515,200
GWINNETT$424,100
HABERSHAM$424,100
HALL$424,100
HANCOCK$424,100
HARALSON$424,100
HARRIS$424,100
HART$424,100
HEARD$424,100
HENRY$424,100
HOUSTON$424,100
IRWIN$424,100
JACKSON$424,100
JASPER$424,100
JEFF DAVIS$424,100
JEFFERSON$424,100
JENKINS$424,100
JOHNSON$424,100
JONES$424,100
LAMAR$424,100
LANIER$424,100
LAURENS$424,100
LEE$424,100
LIBERTY$424,100
LINCOLN$424,100
LONG$424,100
LOWNDES$424,100
LUMPKIN$424,100
MACON$424,100
MADISON$424,100
MARION$424,100
MCDUFFIE$424,100
MCINTOSH$424,100
MERIWETHER$424,100
MILLER$424,100
MITCHELL$424,100
MONROE$424,100
MONTGOMERY$424,100
MORGAN$424,100
MURRAY$424,100
MUSCOGEE$424,100
NEWTON$424,100
OCONEE$424,100
OGLETHORPE$424,100
PAULDING$424,100
PEACH$424,100
PICKENS$424,100
PIERCE$424,100
PIKE$424,100
POLK$424,100
PULASKI$424,100
PUTNAM$424,100
QUITMAN$424,100
RABUN$424,100
RANDOLPH$424,100
RICHMOND$424,100
ROCKDALE$424,100
SCHLEY$424,100
SCREVEN$424,100
SEMINOLE$424,100
SPALDING$424,100
STEPHENS$424,100
STEWART$424,100
SUMTER$424,100
TALBOT$424,100
TALIAFERRO$424,100
TATTNALL$424,100
TAYLOR$424,100
TELFAIR$424,100
TERRELL$424,100
THOMAS$424,100
TIFT$424,100
TOOMBS$424,100
TOWNS$424,100
TREUTLEN$424,100
TROUP$424,100
TURNER$424,100
TWIGGS$424,100
UNION$424,100
UPSON$424,100
WALKER$424,100
WALTON$424,100
WARE$424,100
WARREN$424,100
WASHINGTON$424,100
WAYNE$424,100
WEBSTER$424,100
WHEELER$424,100
WHITE$424,100
WHITFIELD$424,100
WILCOX$424,100
WILKES$424,100
WILKINSON$424,100
WORTH$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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