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Are you a veteran or a member of the U.S. military who needs a very large loan amount for your home? Good news! Quicken Loans is proud to offer the VA jumbo loan for amounts over $453,100 (or $484,350 under new loan limits that start January 1) – up to $1.5 million.

VA jumbo loans are a top benefit for veterans and military personnel because they have more flexible requirements and higher loan amounts than conventional loans. Contrary to popular belief, the Department of Veterans Affairs (VA) actually doesn’t write the mortgages. Instead, the VA insures the loans that are written by banks and mortgage companies. Financing (or refinancing) with VA loans is only available for veterans and active members of the U.S. military and their spouses (even widows, as long as they haven’t remarried).

Does the VA Offer Jumbo Loans?

Many people know about the VA loan, but the VA jumbo loan is a lesser-known offering intended to help people who are looking at houses with prices higher than conforming loan limits. We’ll get into a bit more detail on those loan limits below, but in general, the conforming loan limit is $453,100 ($484,350 January 1).

They also offer all of the benefits of a standard VA loan. We’ll dig into those a bit later on.

Why Is the Loan Limit Different in My Area?

In most areas of the country, the general conforming loan limits apply. If you live in a county that’s considered a high-cost area, there may be higher loan limits before you have to go with a jumbo loan.

VA loans follow conventional loan limits. You can find the conventional loan limit in your area here.

The Benefits of VA Jumbo Loans

The VA jumbo loan offers higher refinancing amounts than many typical conventional loans. These flexible guidelines often allow more homeowners to refinance in difficult housing and financial markets. Here are some of the benefits of refinancing with a VA jumbo loan:

  • If you’re purchasing a home, you have the option of doing so without a down payment. If you’re looking to lower your rate or change your term, you can refinance up to your full loan amount.
  • VA loans allow up to a 90% loan-to-value ratio on cash-out refinances. This means you only have to leave 10% equity in your home and can convert more of your home’s existing value into the cash you need.
  • There’s no mortgage insurance with a VA loan.
  • There are no prepayment penalties on VA loans.
  • VA assistance is available for veteran borrowers in default due to temporary financial difficulty.
  • You have the ability to roll the VA funding fee into the refinance amount, and there’s no funding fee for disabled veterans or surviving spouses.

Jumbo VA Loan Requirements

VA jumbo loans require a higher credit score than the usual VA loans due to the high loan amounts. The minimum credit score is 620 for regular VA loans, but for jumbo loans, the minimum score is 640.

Regardless of whether you’re purchasing a new home or refinancing, now is a great time to take advantage of the benefits you earned. Give us a call today at (800) 785-4788 to find out more about which loan option best suits you and your family.

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This Post Has 10 Comments

    1. Hi Herman:

      Unfortunately, we only do home loans up to $3 million on the jumbo side. I’m sorry.


  1. If we are purchasing a home that is over the county limit, are we required to pay the 25% difference down payment? For example if the house is $700,000 and county limit is $636,150…..the difference = $63,850 and 25% of that is $15,962.50.

    1. That’s a bit of a complex question and I’m not sure on the answer. However, I want to make sure you get the right information, so I’m going to recommend you speak to one of our Home Loan Experts. You can get in touch with them by calling (888) 980-6716.

  2. my fico scores are about 700. I am working to find out why they are so much lower then they should be. I have a very good financial statement showing little debt and over $400,000. in liquid cash assets. What can I do to qualify for a VA jumbo loan? I have an attorney trying to find errors and correct them in my credit reports. I have had many very large bank loans all with perfect credit history, rather its small items that happened between 2013 and 2014 that s some slow pays. At the end of 2014 I earned over $1,000,000. which enabled me to literally pay off most of these small debts. Can you help or advise?

    1. Hi Michael:

      In terms of what affects your credit score, it doesn’t matter that the loans in question were for small amounts necessarily. If you have late payments, your score is going to go down. That being said, if there are any errors in your credit report, you’re doing the right thing by working with someone to have them removed. The disputed accounts may cause a bit of an issue because it puts your credit score in limbo.

      That said, I recommend you speak with one of our Home Loan Experts by calling (888) 980-6716. They may be able to give you advice on how to move forward.

      Kevin Graham

    1. For a purchase or rate/term refi, no down payment is required. For a cash-out refinance, the minimum amount of equity is 10%. I hope this helps! If you’d like to get started, you can fill out this form or call 888-728-4702 to speak with one of our Home Loan Experts.

    1. Hi Amanda:

      We can definitely help you look into that. I see you filled out an application with us. I’m going to make sure someone contacts you. In the meantime, I just wanted to say happy Veterans Day and thank you for your service!

      Kevin Graham

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