What is the VA Loan Limit for a Duplex or 2 Unit home?
This is a common question we hear, as well as what is the VA Loan Limit for a 3 unit, triplex, 4 unit or fourplex? When Congress allowed the VA Jumbo / VA High Balance loan limit calculations to expire in 2015, the VA Loan Limits reverted to the Fannie Mae/ Freddie Mac limits for Single Family homes. That is where the rub comes in. VA does not have a separate loan limit for 2, 3 or 4 unit homes like FHA and Fannie/ Freddie. The VA County Loan Limit is the same for 1, 2, 3 or 4 unit VA Homes (purchase or refinance). This is most likely due to the VA Loan Guarantee and VA Entitlement requirements. It would take an act of Congress to update these, and we all know that is an unlikely proposition.
The good news is that you can exceed the County VA Loan limits with a down payment of a portion of the amount that exceeds your respective VA Loan limit. Many Lenders and Big Banks do not allow this, however VanDyk Mortgage allows you to use down payment or equity in the property to help meet the Minimum VA Requirements. Please call direct - 866-900-2342 to get your questions answered.
This is part 23 of our FAQ series for VA Loan Questions. FAQ = Frequently Asked Questions, and when it comes to VA Loans, we get plenty of questions. We have been making VA Loans since 1987 and are a Direct Lender. Please give us a call to get help with your VA Loan or VA Jumbo Loan questions, and see if you qualify for a VA Home Mortgage - 866-900-2342 toll free direct, or contact us online at VanDykFunding.com .