Did you know that you can get a VA Home Loan over the $417,000 limit? JUMBO VA Home Loans require that the Veteran make a down payment equal to 25% of the Balance over $417,000.

For example: This means that if the loan amount on a property is $600,000 the calculation looks like this:$600,000 - $417,000 = 183,000/25% = 45,750.00 That means you are making less than an 8% down payment plus there's no monthly mortgage insurance.

On a Jumbo Conforming loan (where you made a 10% downpayment) your mortgage insurance premium could be hundreds of dollars per month plus your monthly mortgage.Remember there is a 2.25% funding fee for a purchase and .5% funding fee for a refinance, but this can be added into your loan amount, and will cost you minimally.

Interest rates are still at a nearly 60 year low, so if you have VA benefits this might an alternative to getting you into a home that is priced as a jumbo.

Call us 7 days a week at 800 315 8803 or visit us at bartprequalifes.com to discuss your VA loan scenario. I am proud veteran that has been offering VA loans since 1987.