VA Jumbo Loans
VA Jumbo Loans
California VA Jumbo Loans (aka VA High Balance Loans)
The Veterans Administration has increased California VA Loan Limits to help Veterans utilize their VA benefit to purchase a home with an affordable, secure, Zero down VA Loan.
The Standard VA Loan limit is $417,000. In select areas approved by the VA, the loan limit is much higher. California’s highest county VA Loan Limit is $625,500. Qualified Vet’s can qualify up to $625,500 with no money down in San Francisco, Alameda, San Mateo, Marin and Contra Costa Counties. Eligible LA and Orange County Vets can qualify up to $625,500, and San Diego Vets up to $562,350. California VA County Loan Limit list
We offer VA Jumbo Loans that exceed the California 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 your county loan limit; $417,000 in most counties (plus 25% of the VA Funding Fee if applicable). Refer to our California VA County Loan Limit list.
Here are some of the benefits with VA Jumbo loans for California Veterans:
- 100% VA Jumbo Purchase Loan up to $625,500 in Bay Area Cities for 2015 (check your CA County VA Loan Limit here)
- Zero down payment required up to your County VA Loan Limit
- 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 (roughly 25% of the amount exceeding your county VA loan limit)
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 California:
- California 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 California 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. 866-900-2342 Toll Free Direct or apply online via our secure Online Application