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VA Jumbo Loan Q&A

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Questions About Jumbo VA Loans

ask a questionWhat is a VA Jumbo Loan?

A loan is considered a jumbo loan if it exceeds what is known as the conforming loan limit. The current limit is $417,000 for all states, and $625,000 in Alaska and Hawaii.

How does the interest rates for VA Jumbo loans compare to that of conventional loans?

Jumbo loans generally have a higher interest rate than a conforming loan because the lender is taking a higher risk. However, this is not the case with VA. Non-conforming jumbo loan interest rates usually run between .25% and 05% higher.

Do VA Jumbo loans require a down payment?

Yes, VA Jumbo loans require a down payment, but it is very little compared to non-conforming jumbo products. Generally, a 20% down payment is required.

Do I have to maintain private mortgage insurance on a jumbo loan?

No, this loan does not require mortgage insurance, whereas most loans with less than 20% down do require mortgage insurance.

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Barbara Cockrell

(904) 210-5117

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Barbara Cockrell
Primary Phone: 904-210-5117

Jacksonville Areas

  • Jacksonville Beach
  • Intracoastal
  • Southside
  • Arlington
  • Baymeadows
  • Mandarin
  • Northside
  • Westside

Surrounding Areas

  • Town of Nocatee
  • Ponte Vedra
  • St. Johns
  • St. Augustine
  • World Golf Village
  • Orange Park
  • Middleburg/Green Cove
  • Nassau County
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