Jumbo Loans
Thanks to a credit crunch, lending standards grew stricter making it harder to get a jumbo loan. Qualified active-duty military members and veterans have access to the VA Home Loan program, which is easier to qualify for and boasts a multitude of financial benefits. Rates on VA loans are often better than conventional loans.
The VA loan program does not have jumbo loans, but VA loans valued above $417,000 are available at competitive rates to traditional jumbo loans. Finding out the amount for which you may qualify, fill out the short form below.
Make a VA Loan Request
Maximum Loan Amount
Pat & Jeff help our Jumbo Loan borrowers at VA Mortgage Center.com.
Most parts of the country have a VA loan limit of $417,000 but the limit soars as high as $1 million in certain markets. A single-family home in Monroe County, Florida has a VA loan maximum of $425,000. In San Francisco County, California the VA loan limit tops out at $962,500.
The best way to find out what the VA loan limit is in your county or country of choice, connect with a VA Mortgage Center.com specialist. Our VA loan experts know all there is to know about VA jumbo loans. Even if the price of your home exceeds the VA loan limit, you can still use your VA home loan benefit.
Your Down Payment
On the whole, VA loans don't come with a down payment. However, if your home's price is higher than the VA loan limit in said county, then you need to make a down payment above the limit. Nevertheless, a VA loan can go toward the home value up to the county limit.
For example, you find your dream home in Monroe County, Florida. But the house costs $475,000. The difference between that and the loan limit is $50,000. Per the VA requirements, you'll have to pay 25 percent on the difference, or $12,500. That down payment is still less than 3 percent of the home value. Not even FHA loan down payments compete with this miniscule percentage.
Lenders do not have universal rules for paying a certain amount on the difference. That's why it's best to talk with one of our VA Loan Specialists.
Connect with a VA Loan Specialist Today
Every homebuyer's situation is different from the next. With that in mind, it's better to talk with an expert than to brave the home buying process alone. VA Mortgage Center.com has experts who frequently handle questions and concerns about jumbo VA loans. With years of practice and thousands of success stories, VA Mortgage Center.com is a leading VA loan lender nationwide.
Check Out What Our Customers Say
"This was our first home purchase, but Nathan and the other folks at VA Mortgage Center.com helped eliminate any concerns we had from day one. They answered all our questions, and qualified us for a home that fit perfectly within our budget. Thank you for helping us take a step towards achieving our financial goals!"
Jesse Jacobs, E-2 - Private First Class
MCB Camp Lejeune - North Carolina
We want to help more people like Jesse. Let us start helping you today!
