VA Jumbo Loans

VA Jumbo Loans

Tennessee VA Jumbo Loans (aka VA High Balance Loans)

The Veterans Administration has allowed increased Tennessee VA Loan amounts to help Veterans utilize their VA benefit to purchase a home with an affordable, secure, low down VA Loan.

The Standard VA Loan limit is $417,000.    Qualified Vet’s can qualify for higher VA Loan Amounts with our  VA Jumbo Loans.   VA Jumbo Loans can exceed the Tennessee VA Loan Limit of $417K.  VA Jumbo loans over $417K in Tennessee require a down payment or equity of at least 25% of the amount that exceeds $417,000  (plus 25% of the VA Funding Fee if applicable).

Here are some of the benefits with VA Jumbo loans for Tennessee Veterans:

  • VA Jumbo Purchase Loans require lower down payments that Conventional Jumbo Loans  (example – $25K on a $517K purchase)
  • Closing costs are typically lower than conventional or FHA Loans
  • NO PMI, MIP, or Mortgage Insurance
  • No Prepayment Penalties
  • Competitive fixed interest rates
  • VA Jumbo loans can be used to purchase Condo’s, Single Family Homes, Townhomes, PUD’s, &  2-4 Units
  • You can exceed the county VA loan limits by contributing a down payment (usually smaller than what is required on conventional or FHA

VA Jumbo Loans After Financial Hardship:

  • VA Loans available in as little as 2 yrs after Bankruptcy Discharge
  • VA Loans available in as little as 2 yrs after Foreclosure
  • VA Loans available in as little as 2 yrs after Short Sale
  • VA Loans available after Short Sale’s without late payments with no waiting period

VA Jumbo IRRRL Streamline Refinance Info for Tennessee:

  • Tennessee 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 Tennessee 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 help you get 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, we can help you attain your VA Certificate of Eligibility and get Pre-approved for your VA Loan.   866-435-6553 Toll Free Direct or send us a message to get started.

 

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