VA Jumbo Loans

VA Jumbo Loans

VA Jumbo Loans are also known as VA High Balance or VA Super Jumbo Loans.  The Veterans Administration has eliminated VA Loan Limits to help Veterans utilize their VA benefit to purchase a home with an affordable, secure, Zero down VA Loan.  Be sure to read on, as there are two ways this works for your maximum VA Loan Amount.

Veterans with full VA Entitlement available have no VA Loan Limit.  You do have to qualify in terms of income, employment, etc so that you have an affordable house payment for your budget.   We offer VA loans and VA Jumbo Loans up to $2 million with no money down required for qualified Veterans with full VA Entitlement available.

We also make VA Loans up to $2m for Veterans with partial VA Entitlement with the corresponding down payment.  The VA loan limit only applies to Veterans with a current charge against VA Entitlement, aka partial VA Entitlement.  This can be another VA Loan currently outstanding (yes, you can have 2 VA Loans at the same time), or a charge against entitlement for a prior short sale or foreclosure.  We use a combination of VA Loan Limit and your individual partial VA Entitlement to calculate your required VA down payment.   Veterans with partial VA Entitlement available can still get VA Loans with no money down depending on the net calculation of available VA Entitlement and the County VA Loan limit.

The Standard VA Loan limit is $726,200.  In select areas approved by the VA, the loan limit is much higher.  For 2023, the VA Jumbo Loan Limit is as high as $1,089,300 in high cost areas such as San Francisco, Contra Costa County, Marin County, Alameda, etc.   LA and Orange County are OK up to $1,089,300 as well.

**Reminder, qualified Veterans can qualify with no money down up to $2m if you have full VA Entitlement available.

We also offer VA Jumbo Loans that exceed County VA Loan Limits.  VA Jumbo loans that exceed your County VA Loan Limit require a down payment or equity of at least 25% of the amount that exceeds the county VA Loan Limit minus your available VA entitlement.  Give us a call to help determine your minimum down payment.

 Other benefits of a VA Jumbo loan include:

  • VA Jumbo loans available up to $2.0M loan amounts with no down for Veterans with full VA Entitlement
  • Veterans with partial VA Entitlement available can qualify for a VA Loan up to $2m with a down payment or home equity.   Call us to help calculate your options.
  • Closing costs comparable, and sometimes lower than other financing types.
  • NO PMI, MIP, or Mortgage Insurance
  • No Prepayment Penalties
  • Competitive fixed interest rates
  • VA Jumbo Loans allow higher 100% financing for VA Loans – up to $2m
  • More forgiving with credit issues, job changes, etc
  • Can borrow as soon as 2 years after a foreclosure or bankruptcy
  • Can be used to purchase multi unit homes – duplex, triplex, fourplex.
  • You can exceed the county VA loan limits by contributing a down payment (usually smaller than what is required on conventional or FHA Loans)
  • VA Jumbo loans can be used to purchase Condo’s, Single Family Homes, Townhomes, PUD’s, &  2-4 Units
  • Fico scores as low as 500 with VA Loan amounts up to $726,200
  • Fico scores as low as 580 with VA Jumbo Loan amounts up to $2.0m

VA Jumbo Loans After Financial Hardship:

  • VA Jumbo Loans available in as little as 2 yrs after Bankruptcy Discharge
  • VA Jumbo Loans available in as little as 2 yrs after Foreclosure
  • VA Jumbo Loans available in as little as 2 yrs after Short Sale
  • VA Jumbo Loans available after Short Sale’s with no late payments with no waiting period (if loan was not a VA Loan)

VA Jumbo IRRRL Streamline Refinance Info for:

  • VA IRRRL Streamlines – available to lower your interest rate
  • No income Verification, Credit Qualification, or Asset documentation required in most cases
  • VA Jumbo IRRRL Streamline Refinances are available for Primary, Non-Owner, Investment, or Rental Homes
  • Our VA Jumbo IRRRL Streamline Refinances are not limited to your County VA Loan Limit.

VA Loans do not require mortgage insurance, however the VA requires a funding fee to issue a VA Guarantee to insure against future VA borrower default on a mortgage.   The VA Funding Fee can be Financed into the loan (typical) or paid in cash by the buyer or seller.   Veterans with a 10% or higher VA Disability Rating are EXEMPT from the VA Funding Fee – please ask to see if you qualify.

VA Jumbo loans can be used in  to buy a Home,  refinance your home, buy a Condo, Combine a first and second mortgage, consolidate debts, or just lower your interest rate.

VA Loans do require a Certificate of Eligibility from the VA.  which must be obtained to qualify for a VA loan.  We can assist you in contacting the VA and requesting your Certificate of Eligibility,  just send us your DD-214 and we will help out.

Call us to get started on your VA Jumbo Loan and get started on your VA Loan.   866-900-2342 Toll Free Direct or apply online here