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Indiana VA Home Loan Limits

indiana va limit

Migratory tribes of indigenous people inhabited the Midwestern State of Indiana perhaps as early as 8000 BC. Multiple tribes succeeded each other in terms of regional dominance for thousands of years. The mound-building cultures of the area, also known as Mississippian culture had become prominent at the time of first contact with European explorers. In the 1670’s, the area was claimed as a territory for the Kingdom of France. The claim was relatively meaningless as France established virtually no settlement in the area. Following their defeat at the hands of Great Britain during the Seven Years War, Indiana became a territory of the crown, before being ceded to the United States at the conclusion of the Revolutionary War. Indiana was named the nineteenth state of America in 1816. Largely a frontier, the area was transformed following statehood with the construction of roads, canals, the railroads and state-funded public schools. Today, the state is home to 6,570,902 residents.

The state is the 38th largest by area and the 16th most populous. Indianapolis is both the capital and largest city in the state. Additionally, there are a number of other metropolitan areas that serve as a draw for residents, including Fort Wayne, Evansville, and Bloomington. As of 2012, 70 percent of state residents live in metropolitan areas. The economy is reliant on manufacturing, and the state is home to the headquarters of the pharmaceutical company Eli Lilly as well as Mead Johnson Nutritionals. Indiana is the fifth largest of all states in terms of sales and shipments of pharmaceutical products. Located on the Corn and Grain Belt, Indiana is a major agricultural distributor. Cash crops and exports include corn, soybeans, dairy, melons, tomatoes, grapes, mint, and tobacco. Because of the large woodland area in the southern portion of the state, a fairly large furniture making sector of the economy exists.

The average home cost in Indiana is $115,000. In the past twelve months, home appreciation was one percent. Cost of living in Indiana is 14 percent below the American average. Unemployment is also lower by nearly a full percent in Indiana than the U.S. average.

There are two military bases in the state: Grissom Air Reserve Base and the Naval Surface Warfare Center Crane Division. There are nearly 500,000 veterans living in Indiana. The property tax exemption is available to certain veterans. The exemption is up to $37,440 if they are 100 percent disabled or is over the age of 62 and are suffering from a disability of ten percent or greater.

A veteran who purchases property in the state of Indiana using a VA home loan is not required to have a termite inspection.

Indiana VA Appraisal Fees

Effective April 1, 2019, the VA Appraisal Fees in Indiana are:

  • Single Family: $525
  • Condominium: $525
  • Manufactured Housing ( including modular): $525
  • 2-4 Unit Multi Family (Duplex, Triplex, Fourplex): $675
  • Appraisal Re-Inspection: $150

Indiana VA Home Loan Limits

NOTE: The following is for information purposes only.

To find out the exact dollar amount you qualify for, call the VA Home Loan Centers Applications Support Desk at 888-573-4496 or fill out the VA Home Loan Application located here.

As of 2020, counties come with $0 down and no VA loan limit.

  1. Adams County
  2. Allen County
  3. Bartholomew County
  4. Benton County
  5. Blackford County
  6. Boone County
  7. Brown County
  8. Carroll County
  9. Cass County
  10. Clark County
  11. Clay County
  12. Clinton County
  13. Crawford County
  14. Daviess County
  15. DeKalb County
  16. Dearborn County
  17. Decatur County
  18. Delaware County
  19. Dubois County
  20. Elkhart County
  21. Fayette County
  22. Floyd County
  23. Fountain County
  24. Franklin County
  25. Fulton County
  26. Gibson County
  27. Grant County
  28. Greene County
  29. Hamilton County
  30. Hancock County
  31. Harrison County
  32. Hendricks County
  33. Henry County
  34. Howard County
  35. Huntington County
  36. Jackson County
  37. Jasper County
  38. Jay County
  39. Jefferson County
  40. Jennings County
  41. Johnson County
  42. Knox County
  43. Kosciusko County
  44. La Porte County
  45. Lagrange County
  46. Lake County
  47. Lawrence County
  48. Madison County
  49. Marion County
  50. Marshall County
  51. Martin County
  52. Miami County
  53. Monroe County
  54. Montgomery County
  55. Morgan County
  56. Newton County
  57. Noble County
  58. Ohio County
  59. Orange County
  60. Owen County
  61. Parke County
  62. Perry County
  63. Pike County
  64. Porter County
  65. Posey County
  66. Pulaski County
  67. Putnam County
  68. Randolph County
  69. Ripley County
  70. Rush County
  71. Scott County
  72. Shelby County
  73. Spencer County
  74. St Joseph County
  75. Starke County
  76. Steuben County
  77. Sullivan County
  78. Switzerland County
  79. Tippecanoe County
  80. Tipton County
  81. Union County
  82. Vanderburgh County
  83. Vermillion County
  84. Vigo County
  85. Wabash County
  86. Warren County
  87. Warrick County
  88. Washington County
  89. Wayne County
  90. Wells County
  91. White County
  92. Whitley County