VA "Jumbo" loans!

In most area's the maximum VA loan amount is $453,100. But the VA allows for larger, "Jumbo", loans up to $1.5 million! There is no down payment requirement for loans up to $453,100. Loans over that amount require a 25% down payment but just on the amount over $453,100.

 

So on a $500,000 the required down payment would only be $11,725 ($453,100 x 0% plus $46,900 x 25%). A standard Jumbo loan would require a 25% down payment on the entire loan amount, $125,000! 

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