Is there a VA jumbo loan?
By Kyle Melvin · NMLS #1486450 · REV Mortgage ·
Short answer
Not as a separate VA product. Since 2020 there is no VA loan limit for a borrower with full entitlement; VA guarantees 25% of whatever the lender approves. What lenders call a VA jumbo is simply a VA loan above the conforming limit, and the differences are lender overlays — reserves, credit score minimums, sometimes a small down payment — not VA rules. With remaining entitlement, the county limit re-enters the math and a down payment may apply.
The Blue Water Navy Vietnam Veterans Act removed the VA loan limit for full-entitlement borrowers effective January 1, 2020. VA's guaranty is 25% of the loan amount at any size, which is what makes a no-down-payment purchase possible at price points that would require a jumbo mortgage on the conventional side. The entitlement page covers the rule; the above-the-conforming-limit page covers the practical side in detail.
What actually changes on a large VA loan:
- Lender overlays. Lenders selling large VA loans to investors often add credit-score floors, cash-reserve requirements, or a modest down payment above certain amounts. These vary a lot between lenders, which makes shopping worthwhile on exactly these files.
- Appraisal scrutiny. Higher-priced homes have fewer comparables; the Tidewater process comes up more often.
- Remaining entitlement. If you have a VA loan open elsewhere, the county conforming limit is part of the second-tier calculation, and a down payment of 25% of the amount above your no-down maximum applies. High-cost counties help.
Where this matters most on this site: Quantico, San Diego and Camp Pendleton, where the conforming limit is routinely exceeded on ordinary family housing.
Questions people also ask
- Do I need a down payment on a VA loan above the conforming limit?
- Not from VA, with full entitlement. Some lenders add a down payment or reserve requirement on large loans as an overlay; ask, and compare lenders, because overlays vary widely.
- Is the funding fee different on a large VA loan?
- No. It is the same percentage of the loan amount, so the dollar figure scales with the loan. The exemptions apply the same way.
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