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VA loans in Lynn, MA

Quick answer

Eligible veterans and service members in Lynn, MA can buy with 0% down and no monthly mortgage insurance; with full entitlement there's no VA loan limit, and Essex County's $962,550 limit applies only to partial entitlement. On the $472,600 median home, the estimated payment is $3,884/month at 7.18% including the 2.15% first-use funding fee.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Median household income: $74,715; value-to-income ratio 6.33. Lynn ranks 53 by home value and 8 by population among 89 places in our MA dataset.

What does a VA loan cost on a typical Lynn home?

ItemLynn
Median home value (Census ACS)$472,600
Massachusetts median home value$525,800
Down payment (0%)$0
Loan incl. 2.15% funding fee$482,761
Estimated monthly payment (PITI + MI)$3,884
Income needed (28% / 36%)$167,000 / $130,000
Essex County 2026 county limit for partial VA entitlement$962,550

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Payment includes Massachusetts's 1.11% effective property tax rate (Census ACS), $2,134/yr homeowners insurance (NAIC state average); VA loans have no monthly mortgage insurance.

What is the 2026 VA loan limit in Lynn?

VA loans have no loan limit for borrowers with full entitlement. If part of your entitlement is tied up in another VA loan, VA uses Essex County's 2026 conforming limit of $962,550 to calculate your zero-down maximum. The county's FHA limit is $962,550 for comparison.

The Lynn median home value of $472,600 is 10% below the Massachusetts median, and within what the county limit supports.

Which down payment assistance programs can Lynn buyers use?

VA loans in nearby cities

SaugusSwampscottSalemReverePeabodyMelrose

VA loan FAQs for Lynn

Not for borrowers with full entitlement. If you have an active VA loan or unrestored entitlement, Essex County's 2026 limit of $962,550 is used to calculate how much you can borrow with no down payment.

With 0% down on $472,600, a 2.15% first-use funding fee financed brings the loan to about $482,761; the estimated payment including Massachusetts taxes and insurance is $3,884/month. Veterans with a service-connected disability rating are generally exempt from the fee.

At the $472,600 median value (below the Massachusetts median of $525,800), the estimated payment of $3,884/month at 7.18% needs about $167,000 a year under the 28% housing guideline, or $130,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 2 statewide programs are verified for this city (2 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.