FIXED RATE

  • 30 Year
  • 25 Year
  • 20 Year
  • 15 Year
  • 10 Year

ADJUSTABLE RATE

  • 3/1
  • 5/1
VA 0% down loan limit   County
1050000   ALAMEDA
417000   ALPINE
417000   AMADOR
417000   BUTTE
417000   CALAVERAS
417000   COLUSA
1050000   CONTRA COSTA
417000   DEL NORTE
437500   EL DORADO
417000   FRESNO
417000   GLENN
417000   HUMBOLDT
417000   IMPERIAL
417000   INYO
417000   KERN
417000   KINGS
417000   LAKE
417000   LASSEN
687500   LOS ANGELES
417000   MADERA
1050000   MARIN
417000   MARIPOSA
417000   MENDOCINO
417000   MERCED
417000   MODOC
417000   MONO
500000   MONTEREY
575000   NAPA
417000   NEVADA
687500   ORANGE
437500   PLACER
417000   PLUMAS
417000   RIVERSIDE
437500   SACRAMENTO
827500   SAN BENITO
417000   SAN BERNARDINO
527500   SAN DIEGO
1050000   SAN FRANCISCO
417000   SAN JOAQUIN
518750   SAN LUIS OBISPO
1050000   SAN MATEO
643750   SANTA BARBARA
827500   SANTA CLARA
681250   SANTA CRUZ
417000   SHASTA
417000   SIERRA
417000   SISKIYOU
417000   SOLANO
500000   SONOMA
417000   STANISLAUS
417000   SUTTER
417000   TEHAMA
417000   TRINITY
417000   TULARE
417000   TUOLUMNE
556250   VENTURA
437500   YOLO
417000   YUBA

VA Guaranty Calculation Examples (for loans above the county limit or if the borrower is currently obligated on a VA loan)

The following examples illustrate some common situations involving VA-guaranteed loans. They are by no means comprehensive. Due to variations in the amount of entitlement available to an individual veteran, loan limits for individual counties, and purchase prices for homes, situations may arise which are not covered here. Borrowers are encouraged to contact us if there are questions about the VA guaranty calculation.

Example 1

Veteran has full entitlement available and is purchasing a home for $300,000 where the county loan limit is $417,000.

$417,000 X 25% = $104,250 Maximum Guaranty and Available Entitlement

$300,000 X 25% = $75,000 Guaranty and Down Payment Combination Required

Since VA’s guaranty is limited to the lesser of 25% of the county loan limit or 25% of the loan amount, VA will guaranty $75,000 on Veteran’s $300,000 loan in this county. A down payment should not be required.

Example 2

Veteran has used $48,000 of entitlement on a prior loan, which may not be restored, and is purchasing a home for $320,000 where the county loan limit is $625,000.

$625,000 X 25% = $156,250 Maximum Guaranty

$156,250 - $48,000 = $108,250 Entitlement Available

$108,250 X 4 = $433,000 Maximum Loan Amount with 25% Guaranty

Since the proposed loan amount will be less than $433,000, the lender will receive 25% VA Guaranty on the loan of $320,000. A down payment should not be required.

Example 3

Veteran has used $104,250 of entitlement on a prior loan, which may not be restored, and is purchasing a home for $380,000 where the county loan limit is $815,000.

$815,000 X 25% = $203,750 Maximum Guaranty

$203,750 - $104,250 = $99,500 Entitlement Available

$99,500 X 4 = $398,000 Maximum Loan Amount with 25% Guaranty

Since the proposed loan amount will be less than $398,000, the lender will receive 25% VA Guaranty on the loan of $380,000. A down payment should not be required.

Example 4

Veteran has full entitlement available and is purchasing a home for $480,000 where the county loan limit is $417,000.

$417,000 X 25% = $104,250 Maximum Guaranty and Entitlement Available

$104,250 / $480,000 = 21.72% Guaranty

Since VA’s Guaranty will be less than 25%, a down payment will likely be required to meet investor requirements.

$480,000 X 25% = $120,000

$120,000 - $104,250 = $15,750 Down Payment

Example 5

Veteran has used $27,500 of entitlement on a prior loan, which may not be restored, and is purchasing a home for $320,000 where the county loan limit is $417,000.

$417,000 X 25% = $104,250 Maximum Guaranty

$104,250 - $27,500 = $76,750 Entitlement Available

$76,750 / $320,000 = 23.98% Guaranty

$76,750 X 4 = $307,000 Maximum Loan Amount with 25% Guaranty

Since VA’s Guaranty will be less than 25%, a down payment will likely be required to meet investor requirements.

$320,000 X 25% = $80,000

$80,000 - $76,750 = $3,250 Down Payment

Example 6

Veteran has used $36,000 of entitlement on a prior loan, which may not be restored, and is purchasing a home for $120,000 where the county loan limit is $417,000.

Since the loan amount will not be over $144,000, the veteran’s additional entitlement cannot be used. Therefore, the guaranty would be 0%: $0 / $120,000

Example 7

Veteran has full entitlement available and is purchasing a home for $800,000 where the county loan limit is $729,750.

$729,750 X 25% = $182,437.50 Maximum Guaranty and Entitlement Available

$182,437.50 / $800,000 = 22.81% Guaranty

$800,000 X 25% = $200,000 Guaranty and Down Payment Combination Required

$200,000 - $182,437.50 = $17,562.50 Down Payment

NOTE: Lenders should contact their investor to determine secondary market requirements.