The VA loan limit is the maximum amount a qualified Veteran can borrow without making a down payment. Borrowers with full VA loan entitlement have no loan limits. For those without full entitlement, loan limits are the same as Federal Housing Finance Agency’s limits. These vary by county and how many units the property you’re buying has.
VA loans are home loans designed for American veterans or their surviving spouses that are guaranteed by the U.S. Department of Veterans Affairs. Benefits include no down payment requirements, a negotiable interest rate, no mortgage insurance premiums and low closing costs.