# What is the VA loan limit for 2021?

## What is the VA loan limit for 2021?

\$548,250
The standard VA loan limit is \$548,250 for most U.S. counties in 2021, an increase from \$510,400 in 2020.

### What is the basic VA entitlement amount?

VA loan entitlement is the dollar amount the Department of Veterans Affairs will guarantee on each VA home loan and helps determine how much a veteran can borrow before needing a down payment. VA loan entitlement is typically either \$36,000 or 25% of the loan amount up to the conforming loan limit.

Does VA have a minimum square footage requirement?

When it comes to a home that is under consideration for a VA mortgage loan, there are no set rules about things such as the square footage of the home, a minimum number of rooms, or the style of the home.

What is the VA 1% rule?

38 C.F.R. 36.4813 limits the fees that a veteran may pay when obtaining a VA-guaranteed home loan. Veterans may pay a maximum of a one percent origination fee charged by the lender (plus reasonable discount points) as well as reasonable and customary amounts for certain itemized fees.

## How do I calculate VA entitlement?

The calculation for full entitlement in most areas of the country looks like this:

1. Basic entitlement is \$36,000 x 4 = \$144,000.
2. Bonus entitlement is \$70,025 x 4 = 280,100.
3. \$144,000 + \$280,100 = \$424,100 (the maximum loan value for which the VA will guarantee)

### What are allowable VA fees?

What are the VA allowable fees? VA lenders are allowed to charge several VA loan fees when finalizing a home loan, including a maximum 1% loan origination fee, which covers the cost of processing, underwriting and originating the loan.

Who pays for VA pest inspection?

While the VA doesn’t specify who is responsible for paying for treatment of termite damage, some states and lenders require the seller to pay for repairs up to a certain dollar amount. The pest inspection is the only one the VA sometimes requires that the seller pay for.

How is maximum VA loan calculated?

As a rule of thumb, the maximum loan amount for loans over \$144,000 is four times the amount of full entitlement. The calculation for full entitlement in most areas of the country looks like this: Basic entitlement is \$36,000 x 4 = \$144,000.

## Is a pest inspection required for a VA loan?

Regardless of the location of the property, an inspection is always required if the appraisal report indicates evidence of wood-destroying insect damage or an active insect infestation. VA offices may instruct fee appraisers to list, when applicable, other local requirements as conditions on appraisal reports.