Based on changes to VA and the GNMA marketplace the current maximum VA loan at 100% financing is limited to $417,000, inclusive of the funding fee being rolled into the loan. This maximum amount applies to all jurisdictions in the United States. The changes are a temporary increase in the maximum guaranty amount for loans closed January 1, 2009, through December 31, 2011

VA Jumbo Loans (greater than $417,000)

Loans for More Than $417,000If the original principal loan amount is greater than $417,000, VA will guarantee 25 percent of the original principal loan amount, up to the maximum guaranty amount. The maximum guaranty amount varies depending upon the location of the property.

• (1) For all locations in the United States other than Alaska, Guam, Hawaii, and the U.S. Virgin Islands, the maximum guaranty amount is the greater of 25 percent of (a) $417,000 or (b) 125 percent of the area median price for a single-family residence, but in no case will the guaranty exceed 175 percent of the Freddie Mac loan limit for a single family residence in the county in which the property securing the loan is located. This translates to a potential maximum loan amount of $1,094,625.

  (2) In Alaska, Guam, Hawaii, and the U.S. Virgin Islands, the maximum guaranty amount is the greater of 25 percent of (a) $625,500 or (b) 125 percent of the area median price for a single-family residence, but in no case will the guaranty exceed 175 percent of the Freddie Mac loan limit for a single family residence in the county in which the property securing the loan is located. This translates to a potential maximum loan amount of $1,641,937.50.

  c. Annual Adjustments: The maximum guaranty amounts set forth above will be adjusted annually. The first adjustment will affect loans closed on or after January 1, 2010. 

CALCULATING THE MAXIMUM GUARANTY FOR LOANS OVER $417,000: The applicable maximum guaranty amount may be calculated using data available online from the Federal Housing Administration (FHA). To calculate the maximum guaranty amount for a particular property:

• a. go to FHA Outreach;

  b. scroll to the bottom of the page;

  c. select the state where the property is located;

  d. type the name of the county where the property is located in the box labeled "County";

  e. click "Submit"; and,

  f. multiply the resulting "Median Price" for the appropriate county by 1.25.

  g. If the resulting figure is:

  (1) less than $417,000, use $417,000 to calculate the maximum guaranty amount;

  (2) greater than $417,000, but less than $1,094,625 (or $1,641,937.50 in Alaska, Guam, Hawaii, and the U.S. Virgin Islands), use the result to calculate the maximum guaranty amount; or,

  (3) greater than $1,094,625 (or $1,641,937.50) use $1,094,625 (or $1,641,937.50) to calculate the maximum guaranty amount.