VA Jumbo Mortgage Financing Loan Florida, Best Rates!
We know the Florida VA jumbo mortgage loan business and can finance easy, complex and tough deals, with the VA jumbo best rates possible!
VA Jumbo Mortgage Loan for Florida Residences offer Higher Loan Amounts for Veterans.
- 700 Credit Score Required.
- Loan Amounts up to $1,094,625
- No Down Payment on the first $424,000
- 60% Debt to income ratio
- Refinance Cash out up to $325,000 and up to 90% loan to value
- 1 to 4 unit properties allowed
Florida VA jumbo mortgage financing loans offer some of the lowest down payments, the best interest rates and higher debt to income ratios than a conventional jumbo mortgage.
What are the down payment requirements for a Florida VA jumbo mortgage loan?
You simply put down 25% over the amount of $453,100, So if you found a home you wanted to purchase for $600,000 the down payment would be 25% of $175,900 or just $43,975 A lot less than a standard 20% mortgage down payment – and you are getting the full benefit of a Florida Jumbo VA Home mortgage in the amount of $556,025.
What is a VA Jumbo Mortgage Loan?
The VA Loan became known in 1944 through the original Servicemen’s Readjustment Act also known as the GI Bill of Rights. The GI Bill was signed into law by President Franklin D. Roosevelt and provided veterans with a federally guaranteed home with no down payment. This feature was designed to provide housing and assistance for veterans and their families, and the dream of home ownership became a reality for millions of veterans.
With more than 25 million veterans & service personnel eligible for VA financing, this loan is attractive and has many advantages. Eligibility for the VA loan is defined as Veterans who served on active duty and have a discharge other than dishonorable after a minimum of 90 days of service during wartime or a minimum of 181 continuous days during peacetime.
Are you a veteran or member of the U.S. military who needs a very large loan amount for your home? Great news! First Florida Financial Group LLC is proud to offer the VA Florida Jumbo loan for loan amounts up to $1,094,625.
Here’s an example of a Florida VA Jumbo Loan transaction: you are an eligible veteran who has just found your dream home, and it costs $600,000. Your maximum VA home loan amount would be $453,100 with a $0 down payment. You, simply put down 25% on the amount over $453,100, which would be 25% of $175,900 or just $43,975. In effect, you’re purchasing your new home with a down payment of just $43,975. Plus closing costs, a lot less than a standard 20% mortgage down payment – and you are getting the full benefit of a Florida Jumbo VA Home mortgage in the amount of $556,025. We offer some of the best VA jumbo mortgage rates available.
The Benefits of a Florida VA Jumbo Mortgage Loan
VA Jumbo Loans are a top benefit for veterans and military personnel because it offers lower down payments, more flexible requirements and higher loan amounts than conventional loans. Financing (or refinancing) with VA loans are available for veterans and active members of the U.S. Military and spouses – even widows, as long as they haven’t remarried.
- VA loans allow up to a 90% refinance limit – higher than most conventional loan limits.
- No PMI when refinancing with a VA loan.
- No prepayment penalties on VA loans.
What is the maximum VA loan amount?
The maximum VA loan amount is $1,094,625 and there is no down payment up to the first $453,100.
What are the VA jumbo loan limits by County?
The VA County Loan Limits are $453,100.
What is the interest rate for a VA Jumbo home loan?
We offer the best VA home loan mortgage rates available.
What are the VA jumbo loan credit score requirements?
You must have a 700 middle credit score to qualify for VA jumbo loan.