VA Loan Limits Have Been Removed!!!

[Darrell D.]

In 2018 I wrote an article about how I used VA loans to build my portfolio. I maximized the VA loan entitlement and unfortunately the program limited how much I buy. Now however, it's a completely different.

My 2018 BP Article

The current VA website...

VA Link

Effective January 1, 2020, there are no county loan limits for Veterans with full VA home loan entitlement.

However, county loan limits still apply to Veterans who have previously used, and not restored, their VA home loan entitlement to purchase, refinance, or construct a home above $144,000.

Your entitlement can only be restored when the property is sold, or the loan is paid-in-full. If you want to purchase another home without fulfilling these criteria, VA will only guarantee your total outstanding loan amount up to the county loan limit of the home you wish to purchase next.

There may be other restrictions such as how many you can have or how many in a single city. At first glance though, it looks like investors can go as high as they want (while still qualifying for a loan) and as many times as they want. Every investor tries to invest without money out of their pocket. This makes the VA loan so powerful. Without limits I can't imagine what this will do. Every veteran should know about these benefits. I built a nice nest egg but it could have been bigger with this new program.

Trump signed this into action BTW.

[Kyle W.]

@Darrell D. I heard rumors. We will have to wait months for the VA, lenders, military resource websites etc. to update this information. In the meantime, conflicting information will need to be vetted as usual. This is fantastic news. Lump this with the "Forever G.I. Bill" and being able to seek local private health care when further than 30 minutes from a VA offered healthcare facilities. I also believe better transition information is being provided to newly separated, so they hopefully take advantage of everything available to them. Thanks for sharing this information and especially the source.

[Darrell D.]

@Kyle W.

I agree it is fantastic.  We're definitely headed in the right direction.  

However, it's amazing to me how little information the veterans know about their benefits. Rarely do they know you can use the VA loan more than once. I've been thinking about teaching at the local base on occasion to spread the word. I could write a book but I think they're outdated. Everything is own Youtube now or they won't pick it up.

I currently have three VA loans but now I want to sell them just to take advantage of the program.

[David Pere]

You are correct brother! The limit is lifted, Purple Heart recipients (even if still active duty) no longer pay funding fee's, and several other changes. The funding fee increased, but I think that is an acceptable payoff.

I have written a few articles, and posted a YouTube video about this, but there are some great things about this update!

[Darrell D.]

@David Pere

Hey bud.  Send me your youtube channel.  Some of your links on BP profile need to be updated, the links are broken.

I'm just getting started in Youtube.  My channel is "Houses and Cars."

[Carlos Scarpero]

Yes, I remember when this law was passed. A great day for the VA home loan program indeed.

While the VA home loan does not have limits, most lenders impose their own limits. Luckily most are in the several million dollar range.