Lancaster County PA Realty Check: Supersize a VA Loan

Supersize a VA Loan

Supersize a VA Loan

Since 2004, the maximum VA loan is the same as the maximum FNMA mortgage which is currently $417,000.  Occasionally, a Veteran wants a loan in excess of that amount.  If the Veteran will put a 25% down payment on the excess amount, a lender will loan the other 75%.

Sales Price                                                         $475,000
Maximum VA Loan                                              $417,000
Excess Amount                                                   $ 58,000
25% Required Down Payment on Excess              $ 14,500
Adjusted Loan                                                    $460,500

VA loans are eligible for veterans of the military with a certificate of eligibility.  A Veteran can get a 100% loan up to the maximum VA loan amount and the seller can pay their closing costs which would allow a Vet to get into a home with no down payment and no closing costs.  The VA Funding Fee can be rolled into the mortgage or paid by the Seller.

When the Vet sells the home, their VA loan is assumable at the existing interest rates but does require qualification of the new buyer.  The benefits would be a possible lower interest rate and lower closing costs.

There's more to finding the "Right" home than driving around looking at houses.  A Residential Finance Consultant can help you make better decisions to help you understand the tax advantages, financing alternatives and investment aspects of homeownership.


Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA.  To learn more, visit

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Comment balloon 2 commentsBrian Schulman • March 14 2011 06:04PM


Brian, I have done quite a few VA loans.  Other agents I worked with in the "big box" seemed to not care for them.  But, they are no worse than FHA or Rural Development loans. 

Posted by Suzanne McLaughlin, Sabinske & Associates, Realtor (Sabinske & Associates, Inc. (Albertville, St. Michael)) about 8 years ago

Hi Suzanne, you're right, VA has different formats, but for lenders and agents that are familiar with them, can be a good alternative.

Posted by Brian Schulman, Lancaster County PA RealEstate Expert 717-951-5552 (Coldwell Banker Residential Brokerage, Lancaster PA) about 8 years ago