Increased VA Loan Limits Allow Borrowers To Purchase In More Expensive Markets

The 2019 VA loan limit will increase to $484,350 from $453,100, allowing military borrowers in more expensive loan markets to borrow more without having to put any money down.

The new limits apply to the majority of military borrowers, except for 199 “high cost” counties where the limits are higher.  In most markets the 2019 VA loan limit will be $484,350 and will apply to all loans closed January 1, 2019 through December 31, 2019.

The maximum conforming VA loan limits for mortgages acquired by Fannie Mae and Freddie Mac are determined by the Federal Housing Finance Agency (FHFA). VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.

VA Home Loans:  How to Get Started
Understanding Veterans home loans may be a bit confusing at first. In order to help you get started, visit the Veteran Administrations website for information on VA home loan mortgages and how to qualify. Real estate agents can also provide updated information and assistance on how to apply.

About Veterans Home Loans
If you’re considering purchasing a new house and you’re retired or an active member of any branch of service ( that includes the reserves or the public health service), you might be eligible for a VA home loan. These types of loans were designed to aid the majority of military veterans who are interested in securing home ownership following or during their time in service.

Qualifying for Veteran Loans
Veteran loan eligibility varies depending upon the length of service, the military branch of service, as well as the dates of service. Usually, eligible recipients have to have served for a minimum quantity of time, as well as have to be either active service members or received honorable discharge. The quantity of time in which you need to have served will depend on your responsibilities within the services.

Where to Apply
You may figure out if you are eligible for a Veteran home loan by speaking with your regional Veterans Administration office. In Florida, you can contact the St. Petersburg Regional Loan Center by calling 1-877-827-3702, Monday-Friday, 8:30-4. You’ll learn more on Veteran home loan entitlements, as well as what kind of limitation you might expect upon your home loan. In general, you might expect to obtain a loan which is going to cover the expense of your new house without needing to secure a down payment. If you have a down payment of at the minimum of 5%, however, you may save in the long run by decreasing the quantity of charges that are related to your loan.

One of the best benefits to a Veteran home loan is that the most veterans can qualify even if their credit possesses a couple of flaws as the loan is secured by the U.S. government.


Sources:  Military Benefits and Veterans Administration

Crystal Coovert is a Florida-licensed Realtor® at Michael Saunders and Company in Punta Gorda, Florida. Crystal is a member of the Punta Gorda/Port Charlotte/North Port Realtors® Association, Florida Association of Realtors®, National Association of Realtors®, Womens Council of Realtors  and is a Certified International Property Specialist (CIPS), a designation achieved by only a small percentage of Realtors® worldwide, as well as a Seniors Real Estate Specialist (SRES).

Crystal can be reached by phone or text at 941-322-7133  or by email at

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