2013 loan limits for Veterans

For most of the country, the limit for VA loans is $417,000.  The VA loan program goes up to 100% loan to value so you can buy up to a $417,000 house in most counties.  There are some exceptions, and the list is here: http://www.benefits.va.gov/HOMELOANS/documents/docs/2013_county_loan_limits.pdf

 

Here in Idaho, the only county with a limit higher than $417,000 is Teton County.  For those of you outside of Idaho, its on the back side of the Teton mountains and Jackson Hole, WY.  Its a beautiful area with very pricey real estate.

Back in 2005, I financed a bunch of homes in Teton Springs, and most of them were more than the VA limits.  Just for fun, here is their site: http://www.www.tetonsprings.com/real-estate-overview.php

Now, if you live in Nantucket County, MA you can get a VA loan up to $1,094,625.  At the current rates, you would need an income of $11619 per month to support a payment of roughly $5,000 or so.  Even if I could afford it, would I really want that much debt?

Anyway, its fund to dream sometimes.

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