Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE”. This week, we answer the question: What is a Jumbo VA loan?
A jumbo VA loan is a VA loan where the loan amount is over the conforming limit. The conforming limit varies by area, however, the predominate conforming limit as of January 1st 2018 is $453,100. Did you know that on a VA loan, the borrower can exceed a loan amount of $453,100? VA does limit the size of the loan, however, loans over the conforming limit do require a down payment.
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