• Have paid their previous VA loan in full and sold the home • Have used their VA home loan benefit but had a foreclosure or compromise claim (also called a short sale) and repaid the VA in full. Your only limitation is how much of a mortgage you can afford and how much money the lending agency will loan you based on your finances.
Second Tier Entitlement
If you have previously used your VA loan entitlement, then any further use is subject to the current county loan limits of where the new property is located. For example the county loan limit in 2025 is $806,500 for a single family dwelling. As with most counties across the U.S., special statutory provisions establish different loan limits for Alaska, Hawaii, Guam, and the U.S. Virgin Islands. In these areas, the baseline loan limit is $1,209,750 to account for the higher costs of living in those areas.
Bankruptcy and Foreclosures
If you filed for Chapter 13 Bankruptcy, you can apply for a VA backed loan immediately after everything has been settled. If you filed for Chapter 7 Bankruptcy or had a foreclosure, you must wait 2 years to apply.
Appraisals
The VA doesn't employ appraisers, they are independent contractors hired (typically by the lender) just like any other type of loan and have the same requirements as a FHA loan. Once the appraisal is completed, the Notice of Value (NOV) will be issued. If it comes in lower than the purchase price there are several
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