Thursday, March 27, 2008

JUMBO VA Loans up to $1,000,000 a viable alternative

This from an OLD friend and an excellent mortgage loan officer Mark St. Onge:

Yes, that’s right: you can now do a VA loan up to $1,000,000! Here’s how it works: 100% financing is available up to the old limit of $417,000 (excluding the VA funding fee). The difference between the purchase price and $417K requires 25% down. On a million dollar home that would equate a down payment of 14.75% but there’s no add-on to the rate! This is the only jumbo financing available that still offers conforming rates. The funding fee of 2.15% for eligible first time regular military veterans cannot be financed when the loan amount exceeds $417K but the funding fee can be negotiated to be paid by the seller within VA’s liberal seller allowance limit of 6% of the purchase price. When you’re talking to a buyer in that price range, don’t forget to ask if they’re VA eligible!

Mark's contact information can be found at

So, if this kind of service could be valuable to you or your friends, put my 22 years of experience to work for you, learning about your new home town! Whether it is Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, Parker, Elizabeth, Larkspur, Franktown, Kiowa, or anywhere in metro Denver Colorado, we offer real estate advice, properties for sale, multiple listing service, property listings, mls, all available at Drop me a note to

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