The Department of Veterans Affairs (VA) offers a loan program for military service members and their families. This program offers 100% financing to eligible borrowers, among other benefits. The table below shows the 2017 VA loan limits for all Washington State counties.
At a glance: The current cap for most counties is $424,100. In the Seattle metro-area counties of King, Pierce and Snohomish, the VA loan limit is set at $592,250 to account for higher home prices in the area. San Juan County is currently capped at $483,000.
VA Loan Limits for Washington State, 2017
VA loan limits vary by county and are based on median home values. In Washington State, the current limit for most counties is $424,100. There are four exceptions to this standard, as shown below.
How These Limits Affect Borrowers
Technically, the Department of Veterans Affairs does not put a cap on the amount you can borrow to purchase a home. They do, however, limit the amount of liability the VA will assume, and this can affect the amount you’re able to borrow without a down payment.
In other words: If you want to use a VA loan to buy a home in Washington State, and you want to take advantage of the zero-down-payment benefit, you’ll probably have to stay within the VA loan limits shown above.
Caps Were Raised in Most Counties, from 2016 to 2017
For the past couple of years, the VA has used the same loan caps as the conforming limits set by the Federal Housing Finance Agency (FHFA). The FHFA determines conforming caps based on median home prices in each county. In Washington State, home prices have risen steadily over the last year — particularly in the Seattle metro area. As a result, the VA loan limits for Washington State were increased from 2016 to 2017, in most counties.
In King, Pierce and Snohomish counties, for example, the VA loan limit was raised from $540,500 (in 2016) to the current limit of $592,250. The limits for all Washington counties were increased for 2017, with the sole exception of San Juan County. The VA loan limit for San Juan County remained at $483,000.
Keep these changes in mind as you research this subject online, as you might encounter outdated information. The gray box at the top of this page contains the current VA loan limits for Washington State in 2017.