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   Doug Barry, Associate Broker

                     Licensed in Maryland
  Direct Line 410-207-4751 Office 410-583-5700  

VA Requirements & Limits

In addition to meeting the service eligibility requirements, the veteran will have to qualify for the loan. Traditionally, 41% of the military veteran borrower's gross monthly income could go to their house payment, plus all other monthly debts combined. A borrower with good credit may now be able to go a little bit higher (talk to your loan officer about what you can do).

The house must appraise for the loan amount or higher. The appraiser will issue a Certificate of Reasonable Value, which states the appraised value. The Department of Veterans Affairs (VA) will not guarantee a loan for higher than the amount on the certificate. Regardless of the appraised value, the loan can also not exceed the loan ceiling for the county the property is located in. The standard loan ceiling is $417,000, but in many jurisdictions, the ceiling is higher, based on higher property costs in many cities or counties. A list of loan ceilings by county can be found here. There is no limit on the purchase price, as long as the veteran can pay the amount above the loan ceiling in cash.


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  Doug Barry

  Direct 410-207-4751
  Office 410-583-5700


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