VA Loan Types


Step four: What kind of homes can you buy with a VA Loan?

Many people think you can only buy a single family home, with a VA loan, but that is not correct. These are the most common homes that the VA allows.


Single Family Residence

This type of home is the standard home that most people associate with a VA loan. A stand-alone house is a free-standing residential home. Sometimes referred to as a single-family home. 

Veterans can qualify on these homes in almost all areas up to $484,350, depending on eligibility.

Townhomes - Attached single family residence

Townhomes are also elgible for VA financing. A Townhome is a multi-story house in a modern housing development which is attached to one or more similar houses by shared walls.

These homes are also very common for Veterans. They allow you to own your own space, but in most cases maintenance on the house and landscape are included in the association fees.

Manufactured homes 

The VA will finance a Modular home and a Manufactured home. A manufactured home (commonly known as mobile homes in the United States) is a type of prefabricated housing that is largely assembled in factories and then transported to sites of use. 

Modular buildings and modular homes are sectional prefabricated buildings, or houses, that consist of multiple sections called modules. "Modular" is a method of construction differing from other methods of building, in that most of the structure is assembled somewhere else, and than final assembly is completed on the property.

Both of these types of homes are common for Veterans who want a little more land or in areas that are more remote. 

Jumbo or estate homes

These are higher price homes that do not fall withing conventional fiancing guidelines.

A Veteran still has the ability to purchase homes that do not qualify for conventional financing. Most areas the conventional VA loans are maxed out at $453,000 as of 2018. But you can get a loan for more than that; in most area the limit is a little over 1 million, depending on eligibility and locations.