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VA loan approval in high-limit high-cost counties

Posted by /u/ElectrikDonuts on


These loans are typically at higher amounts than someone may get approved for in other areas. How does affordability work with these? Does being in CA increase your chances of getting approved for a $700k home loan vs living somewhere lower cost?

Basically are lenders more willing to approve you or is a $700k house still going to be unapproved even though the VA loan can support it?

Im worried lenders calculations will be off gross income and not net income (after tax take home) and therefore not properly account for realized pay. Military in CA is are at a major tax advantage due to BAH not being taxed and home of record elsewhere so no 10% state income tax.

Lenders likely don’t reflect this in their approvals so IDK how anyone would get approved for anywhere near the high limits allowed for in high cost counties.

So whats your experience with high limit VA loans? Trying to avoid a hard credit pull if I wont get approved anyway. Thanks!

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