Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Big Loans for Big Dreams: an Introduction to Jumbo VA Loan Rates

By Virendra Smith Subscribe to RSS | June 7th 2012 | Views:
loading
 
  



If there’s one group of people who truly deserve to get their dream home, it’s the Veterans. This is exactly why the government created the VA home loan program. This financial aid allows Veterans to purchase a home without shelling out any down payment as long as the total cost of the house does not go beyond $417,000.

But what if you’re eyeing a splendid beachfront property in Hawaii which will not only be your primary residence, but also serve as your retirement haven in the future? This is a big dream that can easily costs over $417,000. This is where VA jumbo loans come in.

Definitely Not a Mumbo Jumbo

Any VA mortgage exceeding $417,000 is classified as a jumbo loan. The Department of Veteran Affairs (VA) designates several counties as high-cost counties. Jumbo VA loan rates vary from county to county. Currently, Honolulu Hawaii has the highest loan able amount at $695,750. So if you’re looking for something grand, try looking in these high cost counties where the loan limits are much higher.

What if You Want Something Beyond the Limit?

What if you want to purchase a home worth $1,000,000 in Honolulu? This goes beyond the maximum VA jumbo loan rates. You can still avail of the VA jumbo loan, but you will need to pay a 25% equity or down payment on everything in excess of the VA loan limit. So in this case, you have to pay 25% down on $304,250 which is roughly around $76,000. While you did not get to enjoy zero down payments for the entire amount, it’s still much lower as compared to paying the 25% on the entire mortgage.

Interest Rates and Limitations

In terms of interest, the national average on VA Jumbo loans rates of interest is at 3.75% with an APR of 3.837% for a 30-year fixed mortgage and 3.5% with an APR of 3.65% for a 15-year fixed mortgage. Please take note that the interest rates for VA jumbo loans are fixed and non-negotiable. Further, you cannot apply for a VA jumbo loan to purchase a mobile or prefabricated home. Finally, a FICO score of 640 is a mandatory for any VA loan higher than $650,000.

After putting your life on the line for the sake of your beloved country, you definitely deserve to live in your dream home. See if you qualify for a VA jumbo loan today.

Virendra Smith - About Author:
Valoandesk.com offers loan at cheap interest rate. For more details click here VA jumbo loans, Jumbo VA loan rates and va jumbo loan rates.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/loans-articles/big-loans-for-big-dreams-an-introduction-to-jumbo-va-loan-rates.htm

Related Loans Articles Subscribe to RSS

Hard Money Loan No Teletrack- Grab loan with no credit checking
Published by Gorgie Nork on January 9th 2012 | Finance
Hard Money Loan No Teletrack can be availed with the aid of simple online process. This loan is usef...
 
Get a loan less than 24 hours- Critical fiscal support to US borrowers
Published by Abell Bush on May 21st 2012 | Loans
The sanctioned amount of funds which taken from this loan can be useful to manage financial worries....
 
Signature loan- Valuable cash scheme available online
Published by John Simen on May 28th 2012 | Loans
By availing signature loan, you have provision for obtaining quick cash within 24 hours. The funds c...
 
3 month loan- Ideal option to meet adversity
Published by Kelse Roy on January 17th 2012 | Loans
By availing 3 month loan, it is easy for you to meet urgency. Without waiting for next payday, you c...
 
Small payday loan- Impeccable fiscal solution for salaried people
Published by Abell Bush on April 13th 2012 | Loans
By acquiring quick cash through small payday loan, you can combat unforeseen financial trauma with e...
 
Collateral loan - a rightful measure in financial disorder
Published by Malcom Baker on August 3rd 2012 | Loans
We often meet temporary financial crisis and look for sources to tide over the situation. In such ju...
 
Personal Loan Tenants:Accepted by loan with quick selection right away
Published by Ian Foster on May 3rd 2012 | Loans
Personal loan tenants are frequently acquirable on somewhat small become awake of, which makes them ...
 
Waiting for approval of your loan? Contact Loan Officer
Published by Wills Loren on March 27th 2012 | Loans
feedbackhere.com : We provide Loan Officer Services most event planners have something directly to t...
 
Fast cash 500- Fast loan with easy repayment criterion
Published by Rocky Ales on April 6th 2012 | Loans
With the aid of fast cash 500 scheme, you will obtain small sum of money that can be used for emerge...
 
Same day loans- Quickest loan available in the financial market!
Published by Dalton Erwin on March 28th 2012 | Loans
If you are Australian and want to avail instant money, you can now apply for same day loans to get q...
 
Secured loan in UK: are an inexpensive economic result
Published by Ian Foster on November 29th 2011 | Loans
Secured loans in UK can be availed by presenting safety beside loan amount and most of the lenders p...
 
I need a 2000 dollar loan- Unique form of loan for borrowers
Published by Kelin Smith on June 1st 2012 | Loans
Now, you can easily get rid of any fiscal worries by availing 2000 dollar loan....
 
Installment payday loans- Great beneficial loan option for everyone!
Published by Albert Bells on July 19th 2012 | Loans
Nowadays, installment payday loans are available with attractive loan quotes online. So, you can eas...
 
90 day loan no credit check- Ideal choice of financial plan for you!
Published by Alesia Ace on May 31st 2012 | Loans
If you have availed instant funds via 90 day loan no credit check scheme, you may fight against any ...
 
1 month loan: Enjoy Hassle-free Cash Aid Till 1 Month
Published by Martin Bale on June 14th 2012 | Loans
Select 1 month loan deal amongst various loans that are available for you at low interest rate with ...
 
With online research you can loan about car loan with bad credit
Published by Pamela Andersen on May 16th 2012 | Finance
The online auto financing is easy way of saving time and money as well as not compromising on the ra...
 
24 hour loan - Grab money instantly to overcome monetary crunch
Published by Alex Abigil on June 12th 2012 | Loans
By getting quick funds through 24 hour loan, it is quite easy for you to overcome financial woes wit...
 
Teletrack payday loans- Easy cash loan available online
Published by Malen Cheks on May 10th 2012 | Loans
By acquiring quick cash via teletrack payday loans, you have the right option to fulfill unexpected ...
 
Personal Loan Company: Accomplish their personal requirement on rate interest loan
Published by Steve Matthew on February 3rd 2012 | Loans
Personal loans company are the most excellent resources of fulfilling the individual wants and one c...
 
Unsecured debt consolidation loan: Payback all your debts by an individual loan
Published by Alan Poly on May 14th 2012 | Loans
Unsecured debt consolidation loan a economical company proovide some particular services before the ...