Tax cap: why did my lender say only up to 6k?

[Manasseh Arnold]

It's me again with another Newbie question...

I recently got approved for my first ever home loan it was a 0% down VA home loan of up to $275,000 and the lender said the taxes can only be up to $6,000.

Just curious as to why this is and what factors come Into play when accounting for how much is alloted for a "tax cap".

Is it my credit? The type of loan used?

Thanks BP!

-Manny

[Aaron K.]

Probably just a safeguard for you taxes that high on a $275k home in NY seem like something may be wrong, so there shouldn't be much of a problem.  As to why they have a cap at all, it could be to reduce their risk if they had to foreclose, but I don't know for sure.