Your Virtual assistant loan tend to be considered as the an excellent Va jumbo financing in the event the the latest borrowed matter is more than new state-specific limitation to the Virtual assistant funds. During the 2022, very counties have a great Virtual assistant mortgage limitation out-of $647,2 hundred to help you an up regarding $970,800 for the large-pricing area portion.
Remember that Virtual assistant financing restrictions don’t have a lot of affect your residence to buy fuel. It is because there isn’t any cover towards the maximum Virtual assistant house mortgage one could simply take. Yet not, the latest constraints help determine the `restrict amount of cash you can need instead a deposit.
Eligibility
Such as the normal Virtual assistant mortgage brokers, you really need to demonstrate that you is actually a veteran otherwise a keen eligible solution user whenever making an application for a Va jumbo loan. The money and you may borrowing from the bank standards be more tight than the compliant Virtual assistant mortgage. Furthermore, their cost disagree slightly for the financial.
Regardless of if credit criteria differ to your financial, you prefer a credit history of at least 620 to get the credit.