VA Jumbo Loans and Rates in Texas
Jumbo VA Loans also know as High Balance VA Loan, and are for Texas Veterans who are wanting to use their VA benefit purchase a primary residence that exceeds the $453,100 conforming loan limit. We offer excellent interest rates on VA Jumbo Loans in Texas.
Down payment requirements of a Texas Jumbo VA Loan.
The differences with a regular VA Loan and the VA Jumbo loan would be the amount of down payment required. The VA has $0 down up to $453,100 and for any amount over the $453,100 up to the loan amount, the Veteran would be required to put 25% of that amount down at closing.
For example- Purchasing a $500,000 home:
No money down on the first $453,100, and only 25% of the difference between $453,100 and the $500,000 (which is $46,900). So take 25% of the $46,900, which is $11,725.
In this example, Texas Veterans would have to only put a down $11,725 which is only 4% at closing, which is much less than regular Conventional Jumbo Loans.
Texas VA Jumbo Loan verses a Conventional Jumbo Loan
As you can see in the chart, Texas Veterans that choose a Jumbo VA Loan verses a Conventional Jumbo Loan, have a down payment that is dramatically lower. Conventional Jumbo loans usually require a minimum down of 20%. Interest Rates on VA Jumbo Loans are much better than other Jumbo loans.
|Loan Amount||VA Jumbo Loan Down Payment Requirement||Conventional Jumbo Loan Down Payment Requirement 20%|
We are an Independent Mortgage Broker and have many lenders that we can shop for the best VA Jumbo Interest Rates for you. For Jumbo VA Loan Rates Please contact us for we can give you a personalized quote!
Have questions about VA Loans ???
It doesn't matter if the home your looking to purchase or refinance is in Austin, San Antonio, Dallas, Houston, El Paso or Corpus Christi, as long as it is in our great state of Texas, we can help you.
Please give us a call at 210-656-1134, for a No Cost, No Credit Check, and No Obligation consultation and find out how much you qualify for.