There are no hard limits set by the VA about how much individuals can borrow when taking out a VA refinance loan. However, lenders can set their own restrictions based on how risky an investment they deem the borrowers to be.
The basic entitlement for a VA loan is $36,000 with no down-payment, and most lenders will lend up to four times this amount. With a significant down-payment, the amount lent out will increase, especially if you have a strong credit score and income. The exact amount you can borrow also depends on your county – if you live in a place with expensive properties, you’ll be able to borrow more.