Big news! 2024 VA loan limits are up! If you’re eyeing a new home, this is your moment. As an experienced loan officer who’s seen many homeownership dreams come true, I’m here to tell you how these changes can work for you. Think bigger homes and more choices, especially in high-cost areas.

So, what’s new? The limits have jumped to $766,550 and are even higher in pricier neighborhoods. This means more borrowing power for you without the stress of a hefty down payment. Whether you’re a first-time buyer or looking to upgrade, I’m here to guide you through these exciting possibilities. Let’s make your home-buying journey in 2024 a success!

What Are 2024 VA Loan Limits?

As I’ve said, the VA loan limit for 2024 is $766,550. If you’re in Utah or thinking of moving here, this is for you. For those with full entitlement, and I mean if you’ve never used a VA loan or fully paid off a previous one, there’s no limit to how much you can borrow. That’s huge, right?

But, if you’ve used part of your VA loan before, that’s what we call remaining entitlement, and here’s where things get specific to each county.

Full Entitlement Vs. Remaining Entitlement In 2024

Let’s make it simple. Full entitlement is like having a fresh start. You can borrow as much as you need, following the lender’s rules for qualifying, of course.

But with remaining entitlement, it’s a bit different. Think of it as having a part of your loan benefits already used. So, the amount you can borrow now depends on where you’re buying your home.

County-Specific VA Loan Limits For 2024

In Utah, for example, if you’re looking to buy a property in Salt Lake City for your family, the standard loan limit for those with remaining entitlement is $766,550 in 2024. This means you can get a home up to this price without a down payment. It’s a good deal for many of you. But remember, the limits can be different if you’re looking at other counties’ 2024 VA loan limits.

High-Cost Area Limits In 2024

Now, for those eyeing homes in pricier areas, like some parts of Summit County, the VA loan limits are even higher. We’re talking about limits up to $1,149,825! This is excellent news if you’re looking in high-cost areas because it means you can aim for a higher-priced home without worrying about a massive down payment.

6 Strategies To Maximize Benefits Under The 2024 VA Loan Limits

Let’s talk about strategy. With the 2024 VA loan limits, you’ve got more options than ever. But it’s not just about borrowing more. You should be wise when borrowing. Let me walk you through ways to make these new limits work best for you.

1. Select Properties Within The 2024 Limits

When you’re house hunting in places like Davis County or even closer to Ogden, keep that $766,550 standard limit in mind. Think about what you really need in a home. Maybe it’s an extra bedroom or a bigger garage.

Find homes that tick these boxes but stay within the limit. This way, you’re not stretching your budget too thin. Aside from that, staying under the limit means you can skip the down payment, which is a huge financial relief.

2. Navigate High-Cost Areas With Increased Limits

If your heart is set on a place in a high-cost area, like around Park City, you’re in luck. The limits here can go up to $1,149,825. But higher limits mean you need to be extra careful. A pricier home can be tempting, but it’s got to be the right investment.

Work with a local realtor who really knows the market. They can guide you to properties that are beautiful and a smart buy. And remember, I’m here to help you figure out how much you can comfortably afford without overstretching.

3. Balance Loan Size And Financial Stability

This is the big one. A larger loan can seem attractive but always try to find a balance. You’ve got to think about your future, not just today.

A good way to check if you’re on track is to keep your housing costs, including your mortgage, under 30% of your monthly income. This helps you enjoy your home without stressing over bills. 

And just because you can borrow up to the limit doesn’t mean you should. We can work together to find that “perfect balance,” ensuring you get a great home and healthy finances.

To make this a bit clearer, let’s break it down with some specific points:

  • Budgeting for Total Housing Costs: Remember, it’s not simply the mortgage. Factor in taxes, insurance, and maintenance costs. These can add up, so plan for them in your budget. 
  • Future Financial Goals: Are you planning for big life events? Maybe starting a business, funding education, or saving for retirement? Let’s make sure your home loan fits into these plans.
  • Emergency Savings: It’s always smart to have a safety net. An emergency fund can cover unexpected repairs or changes in your income.
  • Loan Term Considerations: Shorter loan terms mean higher payments, but you’ll pay less interest over time. Longer terms lower your monthly payments but increase the total interest.

4. Look At Growing Areas Within Your Budget

Have you thought about checking out places that are getting more popular? This year, with the VA loan limits up, areas like Tooele are worth a look. Homes here often fit right into the new loan limits.

You could find a nice place that’s also a smart buy. These areas are growing, and that’s good for your home’s value in the long run. And it’s always exciting to be part of a community that’s on the up and up.

5. Think About Energy-Saving Homes

Here’s something cool – VA loans in 2024 can cover homes that save energy. Let’s say you find a house in Murray that could use energy updates. Your VA loan can help pay for those.

I know you need a new home, but why not make it better and save on bills later? In the long run, these updates can significantly pay off for your wallet and the planet.

6. Choose Homes With Good Future Value

I’ll say it again: think about the future. With the higher loan limits, you might be able to afford a home in a sought-after area, like near a top school in Layton. This is great if you ever want to sell or rent out your home.

When you apply for a VA home loan and plan to buy a house, it’s wise to keep in mind that it’s also a smart investment for your future. With the 2024 VA loan limits, you’ve got more room to think about these things.

2024 VA Home Loan Limits - A photo of a couple talking to a loan officer

Impact Of 2024 VA Loan Limits On Different Buyer Scenarios

The 2024 VA loan limits are here, and they’re making a big splash across different home-buying scenarios. Let’s dive into how these changes can benefit various buyers, from first-timers to those looking to upsize or downsize.

First-Time Buyers And The 2024 VA Loan Limits

If you’re a first-time buyer and a veteran, the new VA loan limits are like a welcome mat to your first home. Imagine you’re looking in a place like Draper or even Cedar City.

With the limit now at $766,550, you’ve got a broader range of properties to choose from. This means you can find a place that fits your needs and stays within a comfortable budget.

Best of all, you can often do this without worrying about a down payment. It’s a great way to step into homeownership.

Here are some specific details to consider:

  • Explore Different Neighborhoods: The increased limits allow you to consider various neighborhoods. Whether you’re looking for a quiet, family-friendly area or a lively urban setting, your choices are now broader.
  • Prioritize Home Features: With more financial flexibility, you can focus on finding a home with the features you desire. Need an extra room for a home office or a spacious yard? These are now within your grasp.
  • Understand Loan Terms: It’s crucial to know the terms of your VA loan. Familiarize yourself with aspects like interest rates, loan duration, and any additional fees that might apply.
  • Plan for Future Needs: Consider a home that can adapt to your future plans, whether that’s starting a family or having space for hobbies. The new loan limits make finding a home that can grow with you easier.

Upsize Families And The 2024 Limits

For families thinking of upsizing, maybe needing more space or a bigger yard, these new limits are a game-changer. Say you’re in a growing family and planning a home renovation in Salt Lake City for a larger home. The increased loan limits mean you can now consider houses previously out of reach, giving your family more room to grow.

Downsize In Retirement With The 2024 Limits

And for the retirees out there who are thinking of downsizing, this is your time, too. Maybe the kids are all grown up, and you’re looking for a smaller, more manageable place in St. George. The new VA loan limits can help you find a comfortable, cozy home that suits your new lifestyle.

Planning For The Future With The 2024 VA Loan Limits

As we look ahead, it’s not only about getting a home now. Make smart choices for the future. With the 2024 VA loan limits, you’ve got more room to plan and dream big. Let me walk you through some points to consider for your long-term goals.

Anticipate Future Market Trends

Staying ahead means keeping an eye on how things are changing, especially in real estate. Here’s what’s happening in Utah:

  • Growing Cities: Take a look at Lehi and Herriman. These places are growing fast. More people moving in usually means home prices go up. With the new VA loan limits, you can get into these hot markets now before prices climb even higher.
  • Tech Industry Growth: The tech industry is booming around Salt Lake City. This growth is excellent for home values. If you buy a home in this area with your VA loan, your investment could grow as the tech sector expands.

Refinancing Opportunities Under New Limits

Refinancing can be a smart move, and the new limits give you more options. Here’s how you can benefit:

  • Catch Lower Rates: If interest rates drop, refinancing your mortgage can cut down your monthly payments. The higher loan limits mean you have more wiggle room to refinance, even if your home’s value has increased.
  • Fund Home Improvements: Thinking about a new kitchen or a bigger garage? You can refinance with a VA loan and use the money for home improvements. This will make your home nicer and boost its value.

Long-Term Investment Strategies With VA Loans

Your VA loan is a powerful tool for long-term investment. Here are some strategies to think about:

  • Invest in Rental Properties: In places like Ogden, rental properties can be a profitable investment. Use your VA loan to buy a property, then rent out some rooms for extra income.
  • Build Equity for the Future: Buy in an area that’s growing, like near Provo. Live there for a few years, and you could sell it later for a profit. The new loan limits let you get into these promising areas more easily.


The 2024 VA loan limits are here, and they’re opening up some profitable opportunities for homebuyers like you. Whether you’re buying your first home, looking for something bigger, or even downsizing, these new limits are your ticket to finding the perfect place.

Here’s my personal advice to you:

  • Stay Informed: Keep up with local real estate trends. Whether it’s Salt Lake City or a quieter spot like Logan, knowing the market will help you make intelligent choices.
  • Think Long-Term: Consider how your home fits into your future plans. Where will you and your investment be in 5, 10, or 20 years?
  • Budget Wisely: Remember, just because you can borrow a certain amount doesn’t mean you should. Plan your finances to ensure you’re comfortable now and in the future.

And remember, I’m here to help. As a loan officer who’s worked with many veteran homebuyers, I understand that every situation is unique.

If you’re thinking about buying a home and want to explore your options with the new VA loan limits, don’t hesitate to reach out. I can provide personalized guidance tailored to your specific needs and help you navigate this exciting journey.

Let’s work together to make your dream home a reality. Contact me, and let’s start exploring your options under the 2024 VA loan limits!