VA Loan Limits for Single Family and Multifamily Properties in Louisiana

Andrew Severino
Published on June 30, 2017

VA Loan Limits for Single Family and Multifamily Properties in Louisiana

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by Andrew Severino June 30, 2017

VA Loan – 100% Finanicing – 0% Down Payment Home Purchase

Active military and veterans are blessed with the tremednous opportunity offered by the Veterans Administration to obtain a low interest mortgage loan for the purchase of a home, including the benefit of 100% financing, providing the extended benefit if a no money down home purchase.  Current VA loan limits as published by the Federal Housing Finance Agency are determined by provisions of the Housing and Economic Recovery Act of 2008 by county. Subsequently, all counties in Louisiana (also referred as parishes) are bound by the same VA loan limits, including New Orleans, which is part of Orleans County, or Orleans Parish. It is failry common knowledge that the VA lona limit for single family homes in New Orleans and Louisina is $424,100.  What is not so widely known is that the VA loan limit for multi family properties increases based on the number of units, up to four units.  

VA Loan Limits – Single Family and Multifamiy Properties in Louisiana

The VA loan limit for single family homes in Louisiana is $424,100.

The VA loan limit for two family homes is $543,000.  In New Orleans these are commonly referred to as doubles and duplexes. The VA loan limit for three unit properties is $656,350.  These are also referred to as tri-plexes, or 3 plexes. The VA loan limit for four unit multifamily properties in Louisiana is $815,650.  These are commonly referrd to as a four-plex.

Additional VA Loan Requirements for Multifamily Properties

If you are active military or a veteran planning to utilize a VA loan for the purchase a multifmaily property, should be aware that if you need the rental income from the units you do not plan on occupying to be included as income for the purpose of qualifying for the higher loan amounts, you will need to document your likelihood to succeed as a landlord, such as prior experience in property management.

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VA Loan Limits for Single Family and Multifamily Properties in Louisiana
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