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jumbo VA eligible with 682 fico score?

want to buy property south of santa barbara where I'll be moving for work (no job changs, just offices). prices are steep but i'm VA eligible so hoping to get financed with VA terms. have 15% to put down, more if really necessary given my credit. possibilities? by inacroft784623371 from Buellton, California. Sep 10th 2014 Reply


Dan Paladin (dpaladin)
#1 ranked lender in California - 604 contributions

Your score is fine...To be pre-approved please feel free to contact me....877-369-4319.Regards and thanks for serving!!

Sep 10th 2014
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ALLEN PERRY (aperry)
#369 ranked lender in California - 8 contributions

We can do 100% financing on a VA loan. This loan will not have mortgage insurance payments. You are better off keeping your down payment money for closing costs and moving expenses. Please call me at 888-842-7296.

Sep 10th 2014
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Blake Kleckner (BlakeK)
#5 ranked lender in California - 259 contributions

What is the price of the home? It could make a difference in how your loan is structured. Your FICO score is fine, I can structure your VA loan without a down payment or mortgage insurance. Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing more than 40 quality lenders that offer in excess of 1,000 loan programs, we definitely have something for everybody.

Sep 10th 2014
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

The score is fine for a VA loan. The nice thing about a VA jumbo loan is that if you are fully eligible you can go up to 100% of the County max loan limit. The max VA loan limit in Santa Barbara County is $643,750. If the home is higher than this amount you will be responsible in paying 25% of the difference between the purchase price and the max loan limit. If you need a good referral for a loan officer in your area, let me know. Best wishes, Sean.

Sep 10th 2014
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

Score is fine. You might need to pay off auto loan(s) or credit cards, bsed on your income and the purchase price.

Sep 10th 2014
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

You should have no problems.. but as far as VA financing, some lenders only lend to conforming loan limits which is $417K, other lenders will allow you to finance up to the High Cost Limit for your area, which for Santa Barbara County is $643,750. And other lenders will allow you to go as high as $1M using VA.. Because each lender is different, it's best you try contacting a mortgage broker vs. the local banks. You will have to shop pretty hard if you looking for a bank to do your loan, but the broker already has access to 20+ lenders.. more lenders means more options.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Sep 10th 2014
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the homes i'm interested in have all been in the $750k range. so sean i would need 25% down? sorry getting confused about if 100% financing is going to be possible!

Sep 11th 2014
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

No, only 25% of the difference between the $750 and the max county loan limit in Santa Barbara of $643,750. For example if your purchase is $750,000, VA will cover you up to 100% of $643,750. The difference between $750,000 and $643,750 is $106,250, you would have to come in with 25% of this amount for $26,562.50. If you have a VA funding fee some lenders will also require that you pay 25% of the funding fee too. Again this is assuming you have full eligibility.

Sep 11th 2014
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Blake Kleckner (BlakeK)
#5 ranked lender in California - 259 contributions

Your 15% available funds are more than adequate to purchase a $750,000 home in Santa Barbara County. A 25% down payment is definitely not needed. We are specialists in doing VA loans in CA because we only do them in CA. With a 682 mid-FICO score, it is conceivable for me to structure a loan for you with an interest rate in the 3s depending upon your qualifications for the loan, and I may even be able to structure it so you won't have to pay anything our-of-pocket at the close. If you would like me to explain to you how this can be done, please contact me.

Sep 11th 2014
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Dan Paladin (dpaladin)
#1 ranked lender in California - 604 contributions

You have adequate funds and score is fine...best to have a consult to better explain how it is structured to minimize your cash requirement. Contact me toll free at 877-369-4319 or 562.254-5616.Regards

Sep 11th 2014
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Blake Kleckner (BlakeK)
#5 ranked lender in California - 259 contributions

As a follow-up to my last post, we should be able to complete your purchase loan in less than 30 days because of our extremely efficient processing team as long as we get all of the necessary documentation from you and the realtors involved in a timely manner. For additional info, you can reach me at 626-644-2020--7 days a week at virtually any time.

Sep 11th 2014
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