va loans over county limit: Understanding Jumbo VA loans - Jumbo VA loans explained
- 05/14/14 04:20 AM
Did you know that it IS possible to get a loan over the County VA loan limit? The basic formula is calculated by figuring the difference between the County limit and the purchase price. The required down payment is 25% of the above-limit amount. For example, as of May 2014, the San Diego County VA loan limit is $546,250. You CAN get a loan for MORE THAN $546,250 and buy a higher priced home. Here's how it works: Dream Home: $750,000 $750,000-$546,250 (San Diego VA loan limit) =$203,750 ** 25% of $203,750 = $50,937.50 Down payment needed for "Jumbo" VA loan: $50,938 ** VA … (0 comments)
Did you know that it IS possible to get a loan over the County VA loan limit?
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