Yes, a VA loan goes that high
How to buy a $1 million home in Colorado with a VA loan.
We just helped a buyer finance a $1.3 million home with a VA loan. Here is how VA loan limits really work in 2026, what the down payment and funding fee look like on a $1 million-plus home, and how to make the offer compete.
A live person answers. Not a robot, not a phone tree.
The short version
Can you use a VA loan on a $1 million home?
Yes. A veteran with full VA entitlement has no VA loan limit, so a $1 million or $1.3 million home can be bought with a VA loan, often with no down payment. The VA removed loan limits for borrowers with full entitlement on January 1, 2020. What sets the ceiling now is your income, your debts, the VA's residual-income test and the lender's own maximum. County loan limits only matter when part of your entitlement is already in use.
The Kenna Group at Keller Williams DTC just helped a buyer finance a $1.3 million Colorado home with a VA loan, so this is not theory.
No VA cap.
No VA loan limit since 2020. The lender sets its own maximum.
Often $0.
With full entitlement and a lender that allows it at that size.
None.
VA loans carry no monthly mortgage insurance at any loan size.
2.15%.
First use, under 5% down. Waived with VA disability compensation.
2026 limits
When do VA loan limits still apply?
County limits come back into play when you have partial entitlement: you still own a home with an active VA loan, or you lost entitlement in a past VA foreclosure or short sale that was not repaid. Then the VA guarantees up to 25% of the county limit minus the entitlement in use, and the lender usually wants the rest of a 25% cushion as a down payment.
| County | 2026 limit | Area |
|---|---|---|
| Denver, Arapahoe, Jefferson, Adams, Douglas, Broomfield | $862,500 | Denver metro |
| Boulder | $879,750 | Boulder |
| Summit, Lake | $1,092,500 | Breckenridge, Leadville |
| Pitkin, Garfield | $1,209,750 | Aspen, Glenwood Springs |
| Eagle | $1,249,125 | Vail |
| El Paso, Larimer, Weld | $832,750 | Colorado Springs, Fort Collins, Greeley |
Every county is on our Colorado jumbo loan limits page. Source: FHFA 2026 conforming loan limits.
The math
What does a VA loan on a $1.3 million home look like?
| Scenario | Down payment | Funding fee | Loan amount |
|---|---|---|---|
| Full entitlement, $0 down | $0 | $27,950 (2.15%) | $1,327,950 if the fee is financed |
| Full entitlement, 5% down | $65,000 | $18,525 (1.5%) | $1,253,525 if the fee is financed |
| Full entitlement, 10% down | $130,000 | $14,625 (1.25%) | $1,184,625 if the fee is financed |
| Exempt veteran (disability compensation), $0 down | $0 | $0 | $1,300,000 |
Partial entitlement example. Say $50,000 of entitlement is still tied to a VA loan on another home. In the Denver metro, 25% of $862,500 is $215,625, so $165,625 of guaranty is left. The lender wants 25% of $1,300,000, which is $325,000, covered by guaranty plus cash, so the down payment would be about $159,375. Lenders round and apply their own rules; this is the shape of the math, not a quote.
Qualifying
What does the lender look at on a large VA loan?
- Debt-to-income. The VA guideline is 41%; higher ratios can work with strong residual income.
- Residual income. The VA's test of money left each month after the mortgage, taxes, debts and living costs, set by household size and region. It matters more as the payment grows.
- Reserves and credit. Lenders often ask for more credit strength and cash reserves above a set loan size. Ask for the lender's VA jumbo overlay in writing.
- The VA appraisal. The home must appraise and meet the VA's minimum property requirements. If the appraisal comes in low, the gap is cash or a renegotiation.
- Property taxes and HOA. On a $1.3 million Colorado home, taxes, metro district levies and HOA dues add up. They count in the payment.
Mike Oswald at Rate runs VA, VA jumbo and conventional jumbo side by side: (720) 677-5816. You may use any lender.
Winning the house
Will a seller take a VA offer on a luxury home?
Yes, when the offer is written well. Sellers of $1 million homes worry about two things with any loan: the appraisal and the closing date. A clean VA offer answers both up front: a full pre-approval letter from a lender who has closed VA loans at this size, an appraisal plan, realistic dates and an agent who explains the VA process to the listing agent before the offer lands. The VA's minimum property requirements are about the home's condition and soundness, and most well-kept luxury homes meet them.
- Lead with the pre-approval. A letter that names the loan amount and program, not a generic prequalification.
- Talk to the listing agent first. We call before we send it, so the VA part is not a surprise.
- Plan for the appraisal. We send the appraiser the comparable sales that support the price.
- Keep concessions simple. VA limits some seller concessions to 4% of the home's value; normal closing costs are separate.
Quick answers
VA loans on luxury homes: questions, answered.
Is there a VA loan limit in 2026?
Not for a veteran with full entitlement. Since January 1, 2020, the VA has not capped the loan amount for borrowers with full entitlement. Lenders set their own maximums, so ask your lender what it allows with no down payment.
Can I buy a $1 million home with a VA loan and no down payment?
Yes, if you have full entitlement, qualify on income and residual income, and your lender allows that loan size with no money down. Some lenders ask for a down payment above a set loan amount.
When do county loan limits apply to a VA loan?
When part of your entitlement is still tied up in another VA loan or was lost in a foreclosure. Then the 2026 county limit, $862,500 in the Denver metro, sets how much the VA guarantees, and you may need a down payment.
What is the VA funding fee on a $1.3 million loan?
For a first-time VA purchase with less than 5% down, the fee is 2.15% of the loan, or $27,950 on $1.3 million. It drops with a larger down payment, and veterans who receive VA disability compensation are exempt.
Do I need a jumbo loan if I am using a VA loan?
A VA loan above the conforming limit is often called a VA jumbo loan. It is still a VA loan: no mortgage insurance, VA appraisal and VA rules. Pricing and lender requirements can differ from smaller VA loans.
General information, not legal, tax or lending advice. Rules and numbers change; confirm with the county, your lender or an attorney before you act.
Private consultation
Ask us about buying with a VA loan.
303-955-4220A live person answers. Not a robot, not a phone tree.
- Private showings on your schedule, including evenings and weekends.
- Off-market homes from The Kenna Group's agent network.
- One point of contact from the first showing to the closing table.
Kenna Luxury Real Estate is a division of The Kenna Group at Keller Williams DTC (KWDTC).