What is a VA Jumbo Loan?
How does the interest rates for VA Jumbo loan compare to that of conventional loans?
The interest rate is usually higher for a VA Jumbo loan than that of a conforming loan because the risks to the lender are higher. However, with a VA loan this is not the case. Unlike non-conforming interest rates that usually run between .25% and .5% higher, VA jumbo loans are very competitive with current conforming rates.
Do VA Jumbo loans require a down payment?
Yes, but very little compared to non-conforming Jumbo products. Call me to find out just how much of a down payment would be required on your upcoming Jumbo home purchase.
Do I have to maintain Private Mortgage Insurance (PMI)?
No. You will never need to worry about throwing your hard-earned money away on MI with a VA Jumbo loan.
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