VA JUMBO LOAN
A VA jumbo loan is any loan
greater than $417,000.
If you are a veteran who lives in a high cost area or you wish to
purchase or refinance a home that cost more than $417,000 you can use your
VA status to do so. The VA jumbo loan requires that the veteran put down a
100% down payment on any amount over the $417,000.
An example of a VA jumbo loan transaction would be an eligible veteran wanting to purchase a new home
for $427,000. The maximum VA loan amount would be $417,000 with a $0
down payment, and the veteran would need to come up with a cash down
payment of 100% of the amount over $417,000 which is $10,000. So, in this example, the Veteran could purchase
this home for a down payment of $10,000 plus closing cost and obtain a mortgage in the
amount of $417,000.
Click Here to Get Pre-qualified for a VA Jumbo Loan
Veteran Benefits
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Mortgage Resources
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