Even though a VA guaranteed loan doesn't have a maximum loan amount, lenders prescribe to the GNMA (Ginne Mae) standards and limit the size so that they can be sold in the secondary market.
A loan would be considered a jumbo loan when the loan amount reaches or goes above $453,100. Jumbo Loans with the VA can go up to $1,000,000 or more.
Differences with a regular VA Loan and the VA Jumbo loan would be the amount of down payment required. The VA has zero down up to $453,100 and for any amount over the $453,100 up to the loan amount the customer would be required to put 25% of that amount down at closing.
For example- Purchasing a $500,000 home:
No money down on the first $453,100, and only 25% of the difference between $453,100 and the $500,000 (which is $46,900). In this example the customer would have to put a down payment of $11,725 at closing.
Loan Amounts | Down Payment Percent | Total Down Payment |
Up to $453,100 | Zero Percent | $0 |
$453,100 - $750,000 | 25% of the $333,000 | $83250 |
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We are located in San Antonio, Texas and are Licensed Mortgage Broker and a VA Approved lender and have been specializing in VA Loans throughout Texas since 2002.
We can help you accomplish your home purchase or home refinance with expert service, fast closing and very low fees.
To speak with a VA home loan specialist call
210-656-1134 or
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