Jumbo VA Loans

A VA Jumbo Loan over the conforming loan limit of $424,100, can refer to one of two types of loans:

The first is for more expensive areas where the median home price is higher, and the VA in conjunction with Federal Housing Finance Authority (FHFA) have increased the conventional loan amount for that area.  In Florida, there are two counties that have a higher median home price and loan limit.  They are Collier County with a $450,800 limit and Monroe County with a $529,000 limit.  If you are buying or refinancing a home in these counties, the maximum VA loan amount will be higher, however, you still have to the income to qualify for the larger loan amount.

The second type of VA Jumbo Loan is called a High Balance VA Loan.  Borrowers utilizing this loan can increase their VA loan amount over the conforming loan limit by making a small down payment with their home purchase.  Most of the time, they’ll need to put down 25% of the amount that their loan is over the conventional loan limit.  For instance, if they are buying a home for $474,100 that is $50,000 over the conventional loan maximum.  So they would need to have a down payment of 25% of $50,000 or $12,500.  This is less than a 3% down payment on a $474,100 home!  Also, the same VA benefits with no mortgage insurance and flexible underwriting guidelines still apply to a high balance VA Loan.

To get started on your VA Home Loan, call us at 561-810-1711 or fill out the short form on this page.  A  specialist from our team will contact and assist you with your VA Mortgage pre-qualification.

VA Loan Specialist Shirley Mueller

Working as a loan originator since 2003, Shirley has helped over 1500 Veterans with VA Home Loans. She has helped Veterans in almost every situation, including deployed personnel returning home or those with PCS orders. Shirley also helps disabled Veterans who...


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