Jumbo Loans
As lending standards have tightened, jumbo home loans have become increasingly difficult to get. However, if you are a Veteran or are Active Duty, you may be able to take advantage of your VA Loan benefits to receive a great rate on your home loan.
Technically, the VA does not have a Jumbo Loan program, but VA Loans above $417,000 are available and the rates for those loans can be significantly better than a Conventional Jumbo Loan.
To find out how much you qualify for and how much you can save with a VA jumbo loan, fill out the short form below...
Get Started With Your VA Loan Request
Maximum Loan Amount
Pat & Jeff help our Jumbo Loan borrowers at VA Mortgage Center.com.
The VA loan limits vary depending on where you live and can go as high as $1 million.
For instance, a home buyer purchasing in Suffolk County in Virginia has a loan limit of up to $498,750; a home buyer in Los Angeles County in California has flexibility up to $737,500. To find out what your county loan limit is, contact one of our VA Specialists. However, you are still able to use your VA Home Loan benefits even if your home price is greater than the VA Limit...
Making a Down Payment
Most VA Home Loans do not require a down payment. However, if your home exceeds the county loan limit, you can still use your VA benefits on the amount up to the loan limit. Above that amount, you simply need to make a down payment.
Say you're a home buyer in Suffolk County, where the loan limit is $498,750, but the home you've got your heart set on is $560,000 - that's a difference of $61,250. As per the VA Requirements, you will be required to put down 25% of the difference, or $15,313. In this example, that is only a down payment of less than 3%, which is less than the FHA loan down payment requirement. Again, some lenders have different policies on making a down payment and the percentage of the payment, so we urge you to check with one of our VA Specialists.
Contact a VA Specialist Today
Because each home buyer's situation is unique, contact one of our VA Specialists to learn more about how a Jumbo VA Loan would work for you. As one of the leading VA Mortgage Lenders, VAMC has closed thousands of VA Loans and will help you secure yours.
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
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