At the beginning of 2020 Eligible Veterans, service members, and survivors with full entitlement no longer have limits.This means you could buy a home, even in the Silicon Valley or Santa Cruz area,
No Loan Limit on VA home loans as of 2020
Dated: August 18 2020
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At the beginning of 2020 Eligible Veterans, service members, and survivors with full entitlement no longer have limits.
This means you could buy a home, even in the Silicon Valley or Santa Cruz area, with zero down payment. Previously the limit in 2019 was $726,525. This wasn't of much use in our high cost areas if you didn't have some cash available. That has now changed.
You may have full entitlement if you've never used your home loan benefit before, paid off a previous VA loan and sold the home, or used your VA home loan benefit previously and completed a foreclosure or short sale and repaid the VA.
Even if you have a current VA loan you still may have a remaining entitlement. In this case there is a limit to your total entitlement determined by the county where you live or are going to live. With your remaining entitlement you could possibly buy your new home and keep the existing as income generating property. Let me put you in touch with a VA lending specialist to get your options.
Paul Lazaga
Originally licensed in 1979, Paul worked in residential and commercial real estate in Silicon Valley for a number of years before pursuing a high technology career. As Sales Manager for a semiconduct....
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