There is no maximum VA loan, except that the loan cannot exceed the appraised value or purchase price, plus the VA financing charge and energy efficiency improvements, if applicable. VA buyers with their full right to the VA loan can borrow as long as the lender is willing to lend without needing a down payment. Because the down payment is often the biggest obstacle to homeownership for borrowers, especially those buying a home for the first time, VA loans can make homeownership much more accessible to those who qualify. Veterans with less than their full entitlement may not need a down payment to buy back with their VA loan benefit.
At that time, if you plan to keep the home rather than sell it, you could request a one-time restoration of the right to buy again using your full right to the VA loan. There are many different types of VA loans and they come with a lot of benefits, the main one being that you don't need to make a down payment to buy a home. First-time VA borrowers who make a down payment of less than 5% will pay a fee equal to 2.3% of the loan amount. Because you keep your home, the right used to secure that VA loan is not available for another purchase.
Therefore, if you can and are willing to make a down payment, you may be able to borrow more than the county loan limit with a VA-backed loan. The limit on your VA loan or how much you can borrow without making a down payment is directly based on your entitlement. So when you go to apply for your second VA loan to buy your new home at your new destination, your entitlement amount will be reduced by that amount. Military members receiving change of station orders may be eligible for VA loans to purchase homes near their new armed forces.
VA borrowers can count their VA financing charge toward that total, but not toward any qualified energy efficiency improvement.
