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New York VA Loans

  • Buy a Home with 0% Down
  • Refinance to Lower Monthly Payments
  • Lower your monthly payment
  • Easy to Qualify
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Secure a VA Mortgage in New York

Veterans who live in the state of New York can qualify for a New York VA loan to help fund a home purchase or mortgage refinance.  VA loans are unique in the mortgage marketplace.  They are offered only to veterans and are backed by the Department of Veteran Affairs (VA), which gives them a highly beneficial financial status and allows veterans to take advantage of low rates and favorable terms.

Jump to: Eligibility | Loan Limits

What is the VA Loan?

The VA loan program is overseen by the VA, but the loans provided to veterans do not come from the government.  Rather, private lenders offer loans that are secured and guaranteed by the VA to veterans who qualify.  This backing removes much of the risk of the loan, which allows lenders to lower their rates and their application requirements for veterans.  VA loans are among the most financially practical loans available to veterans.

VA Loan Benefits in New York

Some of the key benefits of the New York VA home loan are listed here.

  • No prepayment penalty.  This means you can pay your loan off faster and save money.
  • No down payment required.  This means you don’t have to save up tens of thousands of dollars before you purchase a home.
  • No high credit score or income necessary.  Veterans often don’t have the time to build up high credit or powerful careers while serving in the military.
  • No private mortgage insurance needed.  The backing of the VA secures the loan.
  • You might be able to avoid paying closing costs with a seller concession that packages these fees into the price of the loan.
  • Many loan repayment schedules to choose from.  This means there will always be a loan type available to meet your needs.

VA Loan Requirements and Eligibility

Most veterans are already eligible to receive VA funding, whether they know it or not.  You must be a veteran of the US Armed Services and an American citizen.  Beyond this, more specifically, you must have served at least 90 continuous days of active duty during wartime or 181 days of service during a time of peace.  The exact requirement may vary depending on when you served.

You should also have a minimum qualifying credit score of 620; if not, consider taking some time to build up your credit score before applying for a VA loan. 

If you meet the above requirements, contact your local VA office to obtain a Certificate of Eligibility.  This part is essential, because this is the document you’ll use to prove to your lender that you’re eligible.  Once this is done, get in touch with a VA loan specialist to start working on the next step in the process.

VA Refinance

Your VA eligibility allows you to refinance your current mortgage with a New York VA Streamline refinance.  This refinance program, which is also part of the VA’s goal of assisting veterans, allows those who qualify to simply replace their current home loan debt with a new VA loan.  The streamline process eliminates much of the paperwork and time involved in the process and even cuts out a few of the associated fees.

The VA also backs a Cash-Out refinance option, which allows borrowers to access up to 100% of their home equity as spendable cash. Current VA-eligible homeowners whose property is not backed by the VA can refinance into a VA mortgage via the Cash-Out refinance. 

New York VA Mortgage Rates

Mortgage rates are the price tags of the mortgage industry.  The higher the price tag, the more you’ll have to pay for your funds.  It’s crucial that you find out what the lowest mortgage rates in your area are and contact the lenders who offer them.  Compare the loan options available to you and, all other elements equal, go with the lender who offers the best rate.  The right rate can make a difference of thousands of dollars on your monthly payments.

VA Lenders in New York

Fill out the form at the top of the page to get in touch with up to four lenders in New York who service your local areas.  Ask these lenders about their rates, about their application fees, and about the VA loan limits that apply.  Use this information to help you make your final decision.  If you need more information, contact the Department of Veteran Affairs.

New York Military Information

New York has a major military presence and is home to four military bases.  These bases are Fort Drum, Fort Hamilton, United States Military Academy, and Watervliet Arsenal.  These military facilities are normally where New York VA home loan applicants live and work.

VA Loan Lending Limits in New York

Below is the list of the maximum VA loan limits for counties in New York:

County Loan Limit
ALBANY $417,000
ALLEGANY $417,000
BRONX $625,500
BROOME $417,000
CATTARAUGUS $417,000
CAYUGA $417,000
CHAUTAUQUA $417,000
CHEMUNG $417,000
CHENANGO $417,000
CLINTON $417,000
COLUMBIA $417,000
CORTLAND $417,000
DELAWARE $417,000
DUTCHESS $625,500
ERIE $417,000
ESSEX $417,000
FRANKLIN $417,000
FULTON $417,000
GENESEE $417,000
GREENE $417,000
HAMILTON $417,000
HERKIMER $417,000
JEFFERSON $417,000
KINGS $625,500
LEWIS $417,000
LIVINGSTON $417,000
MADISON $417,000
MONROE $417,000
MONTGOMERY $417,000
NASSAU $625,500
NEW YORK $625,500
NIAGARA $417,000
ONEIDA $417,000
ONONDAGA $417,000
ONTARIO $417,000
ORANGE $625,500
ORLEANS $417,000
OSWEGO $417,000
OTSEGO $417,000
PUTNAM $625,500
QUEENS $625,500
RENSSELAER $417,000
RICHMOND $625,500
ROCKLAND $625,500
ST. LAWRENCE $417,000
SARATOGA $417,000
SCHENECTADY $417,000
SCHOHARIE $417,000
SCHUYLER $417,000
SENECA $417,000
STEUBEN $417,000
SUFFOLK $625,500
SULLIVAN $417,000
TIOGA $417,000
TOMPKINS $417,000
ULSTER $417,000
WARREN $417,000
WASHINGTON $417,000
WAYNE $417,000
WESTCHESTER $625,500
WYOMING $417,000
YATES $417,000


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