VA Jumbo Loans - With No Down Payment

Mortgage and Lending with Strategic Mortgage NMLS#160440


VA home loans have never had hard loan limits like Conventional or FHA loans. Rather they have mirrored Conventional Loan Limits, with anything over the Conventional Loan Limit ($510,400 currently), requiring a down payment.


However, those down payment requirements are now removed for 2020, allowing for Veterans to utilize their VA loan for no down payment loans.


In the past, when using a VA loan, you had to put down a 25% down payment, for every dollar over the conventional loan limit. That means a $25,000 down payment, for every $100,000 over the $510,400 Conventional loan limit.


That requirement is now gone, which means that as long as a Veteran has their full VA eligibility, then they can now obtain a VA loan with no down payment, even on a larger loan size, such as a $1,000,000 purchase.


            That’s great news for Veteran’s but we also need to touch on not so great news for the VA loan program in 2020, in the form of higher VA funding fees.

            VA funding fees for the first time use of a VA loan, will increase from 2.15% of the loan amount to 2.3%. As well, the subsequent use of VA loan funding fee will increase to 3.6% from 3.3% currently. As always, VA funding fees are waived for Veterans in receipt of VA disability benefits, but for other Veteran’s, this is a net negative change to VA loans.


            As always everyone’s individual situation is unique and it is always best to speak with a licensed lender, such as Strategic Mortgage and explore all available home loan options, for your specific situation.


For more information on  current home loan programs and options for existing and potential home owners, please contact Bill Kamboukos of Strategic Mortgage at (480) 219-3682 or by emailing: or online at 

Strategic Mortgage, LLC - NMLS#158804- Equal Housing Lender – AZBK#0909514

Vasilios Bill Kamboukos Jr – NMLS#160440


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