# How Much Can You Borrow with a VA Loan?

If you’re a veteran of the armed forces, you may be wondering how much you can borrow with a VA loan. The answer depends on a number of factors, but we can give you some general guidelines to help you get started.

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## The Maximum Guaranty

The maximum guaranty amount (available for loans over \$144,000) is 25 percent of the loan amount up to \$104,250, and 20 percent of any loan amount above \$144,000. VA’s maximum guaranty amount is the lesser of 25% of the loan limit for the county in which the property is located or 25% of the Conforming Loan Limit.

## Factors That Determine the Maximum Loan Amount

There are a number of factors that go into how much you can borrow with a VA loan. The first thing to understand is that there is no set limit on how much you can borrow with a VA loan. Instead, the maximum loan amount is determined by a number of factors, including:
-The value of the home you’re buying
-The cost of the home you’re buying

These are just some of the factors that go into determining the maximum loan amount. The best way to find out exactly how much you can borrow is to speak with a VA loan specialist.

## How to Calculate Your Maximum Loan Amount

If you’re eligible for a VA loan, the first step is to determine how much you can borrow. The amount you can borrow is based on a number of factors, including your credit score, income, debts, and the value of your home. You can use a VA loan calculator to get a preliminary estimate of your maximum loan amount.

### Step One: Determine the Maximum Guaranty

The first step in finding out your maximum loan amount is to determine the maximum guaranty offered by the Department of Veterans Affairs (VA). The VA guaranty is determined by the va county loan limit. For most of the country, the2019 VA loan limit is \$484,350 for a one-unit home. That means that if you qualify, you can borrow up to that amount and the VA will back a portion of the loan. The exact amount they are willing to guaranty depends on your eligibility status.

### Step Two: Find Out the Loan Limit in Your County

The easiest way to find out the maximum loan amount in your county is to visit the Loan Limits page on the Department of Veterans Affairs website. Here, you can search for the county in which you plan to purchase a home and find out the loan limits for that area.

If you don’t want to search through all of the counties, you can also view a list of loan limits by state. Simply select your state from the drop-down menu and all of the county loan limits for that state will be displayed.

Once you know your county’s loan limit, you need to determine the amount of your entitlement. Entitlement is the amount of money the VA guarantees on every loan. Most borrowers have full entitlement, which is equal to 25% of the maximum loan amount in your county.

### Step Three: Calculate Your Maximum Loan Amount

You can calculate your maximum loan amount by subtracting your closing costs from the appraised value or sale price of the home, depending on which is less. To do this, first determine the lesser of the two values. Then, subtract your estimated closing costs from that number. The result is your maximum loan amount.

For example, let’s say you’re buying a home for \$200,000. Your closing costs are \$3,000. The lesser of the two values is \$200,000. Subtracting \$3,000 from \$200,000 gives you a maximum loan amount of \$197,000.

## How to Get a Loan Above the Maximum Loan Amount

If you’re looking to get a VA loan above the maximum loan amount, you’ll need to provide a down payment. The down payment can be paid in cash or in the form of equity in your home. Lenders will typically require a minimum of 10% down, but this can vary depending on the lender. Keep in mind that you’ll also need to pay closing costs, which can add up to thousands of dollars.

### The VA Jumbo Loan

VA Jumbo Loans are loans that exceed the standard loan limits set by the Department of Veterans Affairs. The standard loan limit is \$484,350 in most areas of the country, but it can go up to \$726,525 in high-cost areas. VA Jumbo Loans are available in both fixed-rate and adjustable-rate mortgages (ARMs).

To qualify for a VA Jumbo Loan, you must meet all of the standard eligibility requirements for a VA loan, including income, credit, and service requirements. In addition, you will need to have a down payment of at least 25% of the difference between the standard loan limit and the maximum loan amount that you are eligible for. For example, if you are looking to borrow \$700,000 and the standard loan limit in your area is \$484,350, you will need to have a down payment of at least \$215,650.

If you are interested in applying for a VA Jumbo Loan, we can help connect you with a lender who can assist you with your application. Give us a call or fill out our online form to get started today.

### The Portfolio Loan

If you’re looking to get a loan above the maximum loan amount, you’ll need to apply for a portfolio loan. Portfolio loans are loans that are not backed by the government, so they aren’t subject to the same restrictions as VA loans.

Portfolio loans can be more difficult to qualify for than VA loans, and they typically have higher interest rates. However, if you’re able to qualify for a portfolio loan, you can borrow up to the full value of your home.

If you’re interested in applying for a portfolio loan, contact a lender that offers these types of loans.

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