VA Jumbo Loans
San Diego VA Jumbo Loans (aka VA High Balance Loans)
The Veterans Administration has increased San Diego VA Loan Limits for 2023 up to $977,500 to help Veterans utilize their VA benefit to purchase a home with an affordable, secure, Zero down VA Loan. Now here is the strange part. VA Loans no longer have a VA Loan Limit for Veterans with full VA Entitlement. What? Yes, the 2019 Blue Water Navy Veterans act eliminated the max VA Entitlement for Vets with full VA Entitlement available. (basically no other current VA Loans or a VA foreclosure or VA Short Sale charge against the Vets VA Entitlement). San Diego VA Jumbo Loans are available up to $2,000,000 with zero money down for qualified Veterans with full VA Entitlement.
Veterans with partial VA Entitlement can still qualify up to $2m for VA Jumbo loans in San Diego when a down payment is applied. The amount of the down payment is a formula based on the Veterans available VA Entitlement, the VA county loan limit, and the purchase price of the home. Give us a ring to review your options.
The Standard VA Loan limit is $726,200 for 2023. In select areas approved by the VA, the loan limit is much higher. San Diego’s VA Loan Limit is $977,500 for 2023. Qualified Vet’s can qualify up to $2m with no money down for San Diego County homes. The VA Loan limit for San Diego only applies to VA Loan down payment calculations for Veterans with partial VA Entitlement.
Here are some of the benefits with VA Jumbo loans for San Diego Veterans:
- 100% VA Jumbo Purchase Loan up to $2,000,000 in San Diego for 2023
- Zero down payment required – up to $2M for San Diego Veterans in 2023
- Closing costs are typically lower than conventional or FHA Loans
- NO PMI, MIP, or Mortgage Insurance
- No Prepayment Penalties
- Vets with a 10% or greater VA Disability Rating are Exempt from the VA Funding Fee
- Competitive fixed interest rates
- VA Jumbo loans can be used to purchase Condo’s, Single Family Homes, Townhomes, PUD’s, & 2-4 Units, duplex, triplex, and fourplex homes.
- 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 (or sooner – call us for details)
- VA Loans available after Short Sale’s without late payments require no waiting period
VA Jumbo IRRRL Streamline Refinance Info for San Diego:
- San Diego 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 San Diego 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.