Can I borrow above the maximum VA loan limit?


Yes, you can. In general, the Veteran's Administration Guidelines require 100% upfront payment of any amount exceeding $417,000 which is the regular maximum VA loan limit.

However, there are lenders who have designed VA home loan programs allowing eligible borrowers to take out larger loans under certain requirements, avoiding the 100% down payment demanded by VA on VA jumbo mortgages, but a lot of additional restrictions will apply.

How do I qualify for a VA jumbo loan?

Generally, borrowing over the maximum VA mortgage loan limit requires the veteran to have sufficient entitlement and down payment, as requested by the lender sponsoring the loan program.

Generally, 25% of the amount exceeding the VA loan limit is required as down payment, but the percentage varies among lenders.

Also, some lenders will require that the VA Funding Fee is also paid in cash; others may finance it into the loan.

VA jumbo loans usually are only offered as fixed rate mortgages with at least 20-year term. VA jumbo mortgage loans exceeding $1 mil are likely to carry 1% increase of the interest rate, compared to VA jumbo home loans below $1 mil.

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