VA Loan Limit Guidelines UPDATE Eliminated Maximum Cap On VA Loans


This ARTICLE On VA Loan Limit Guidelines UPDATE Eliminated Maximum Cap On VA Loans Was PUBLISHED On August 28th, 2019

VA Loan Limit Guidelines UPDATE
Gustan Cho Associates

VA Loan Limit Guidelines UPDATE Eliminated Maximum Cap On VA Loans.

  • Prior to this new law, the VA loan limit was the same as Conforming Loan Limits at $484,350
  • The VA Loan Limit Guidelines UPDATE now allows active and/or retired members of the United States Military and eligible surviving spouses to qualify for VA Loans without worrying about the maximum loan limit
  • Eligible borrowers with a valid Certificate of Eligibility (COE) can now qualify for a VA Loan with no money down in any county of the U.S. with 100% financing
  • Many eligible veterans who can afford a higher loan limit were priced out of the escalating housing market due to going over the previous maximum VA loan limit of $484,350
  • Now eligible veterans do not have to worry about going with a Jumbo Loan
  • The new Loan Limit UPDATE enables these VA borrowers to purchase homes with no money down

In this article, we will cover and discuss the new law with the loan limit and how the VA Eliminated Maximum Cap On VA Loans

Changes In Mortgage Guidelines

what are Changes In Mortgage Guidelines

2019 brought many changes in mortgage guidelines. HUD, the parent of FHA, recently announced FHA will be reducing the loan to limit cap on FHA Cash-Out Refinance Loans from 85% to 80% LTV.

  • The new Loan Limit UPDATE takes effect for VA loans dated January 1, 2020, or after
  • Currently, any borrowers who needed a VA loan higher than the $484,350 down payment had to bring in a down payment
  • The VA only insured VA loans up to $484,350
  • Any homebuyers with a higher down payment needed to come up with 25% of the additional amount on top the $484,350
  • For example, prior to the VA Loan UPDATE, if a homebuyer wanted to purchase a $584,350 home with a VA loan, the VA will insure up to $484,350
  • The homebuyer needed to come up with 25% of the extra $584,350 of the VA loan limit which is $25,000

With the new VA Loan Limit UPDATE, the homebuyer does not have to come up with any money. The lender will finance the $584,350 VA loan with no down payment.

Other Changes In Addition To The VA Loan Limit Guidelines Update

what are the Other Changes To VA Loans

The VA Loan Limit Guidelines UPDATE is a developing story.

Follow us on Gustan Cho Associates for the latest updates on government and conforming loans and latest breaking news.

Start Mortgage Process With New VA Loan Limit Guidelines Update

How Start Mortgage Process With A Direct Lender With No Lender Overlays On VA Loans

Why trust Gustan Cho Associates Mortgage Group for your VA home loan? All of our mortgage underwriters of VA Loans are all VA SAR/LAPP certified. Not all direct lenders can say this. Our team at Gustan Cho Associates are experts in originating the toughest VA files. Over 75% of our borrowers are folks who either were stressing at other lenders and/or have recently gotten a VA Loan Denial due to the lender’s overlays. All of our loan officers are available 7 days a week, evenings, weekends, and holidays. To have a VA Champion in your corner and start the VA Loan Process with a direct lender with no overlays, contact us at Gustan Cho Associates at 262-716-8151 or text us for faster response. Or email us at

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