Fact or Fiction: The $1m San Diego VA Loan
Fact: VanDyk closes $1m VA Loans (and VA Loans over $1m). This may sounds ridiculous to many, but we offer (and make) $1m VA Loans for San Diego Veeterans. In fact, we offer VA Loans over $1m, all the way to $1.5M! How is this you ask? Via the combination of VA Loan Limits in San Diego, plus a down payment on a VA purchase loan, or sufficient equity on a VA Refinance Loan. These large VA Loans have several names: VA Jumbo, VA High Balance, and sometimes VA Super Conforming. We call them VA Jumbo Loans.
California has many counties that exceed the standard VA Loan limit of $417K. San Diego has a Zero Down VA Loan Limit of $562,350 for 2015.
Click here for more details on the complete list of California VA Loan Limits by county
Here is an example of how you can exceed the San Diego county Loan Limit. Let's say you are buying a $662K San Diego county. You would put down 25% of the difference between the VA County Loan Limit ($562,350) and the purchase price ($662K), making the down payment $24,913 - 3.763% . If you have used your VA Loan Benefit before, and the home has been sold or refinanced into a Non-VA Loan, your entitlement may have been restored, allowing you to put as little as $24,913 down on that $662K San Diego Home.
It is important to work with Experienced VA Loan Professionals to ensure a smooth closing. Call the Government Loan Pro's, Call VanDyk. 866-900-2342 direct. Ask for Brian Skaar.
Or get started now at vandykfunding.com.