VA loan limit

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Real Estate

VA loan limit for 2018 depends on where you want to buy. In the Northern Virginia the amount will be 679,650. What does that mean. It means that you could borrow  up to that amount if you qualify with no money down. What if you already have a VA loan on a home elsewhere, can you still use your VA loan benefit? Yes you can The higher rate area allows you to still use this benefit even if you already have an existing loan. Let's say you have a 300.000 VA loan for a home you have in North Carolina, now you are move to Northern Virginia, you still have 379,650 of entitlement that you can use if you qualify still with no money down. 

What if you want to go over the 679,650, that ok too. It just means you will need to have money for a down payment.

If you would like more information, please reach out.