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need a jumbo loan but also VA eligible

can we do this through VA? credit is also a concern - 695. I can put 10% down as of now but selling another property which will yield more funds. by gigiwella7942744 from Lompoc, California. Nov 3rd 2014 Reply


Chris Gummerson (cgummerson11)
#366 ranked lender in California - 648 contributions

What is your desired purchase price?

Nov 3rd 2014
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Todd Windes (twindes)
#228 ranked lender in California - 6 contributions

Hi,You just need a 660 score. Having the reserves is great. They have JUMBO VA's loan. What is the sales price and what county are you in?Todd Windes661.342.5999

Nov 3rd 2014
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Hans Bruhner (Hans Bruhner)
#100 ranked lender in California - 101 contributions

If you are buying in Lompoc, that is Santa Barbara County and the loan limit for VA there is $643,750 and that is the loan amount you can borrow with no money down. Above that, you need to put 25% of whatever amount you are over $643,750. For example if you bought a $743,750 house you would need to put down $25,000 to get that loan.I am in CA and I am a VA expert. I would be happy to help you and VA would be the best loan for you as it is difficult to find a 90% Jumbo loan these days. In SB county you can go up to $625,500 on a conventional loan and if you go beyond that you need 20% down or we get you a 2nd mortgage.Call me at (866) 385-1650 or www.AskTheLoanMan.com

Nov 3rd 2014
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RANDA MISHLAWI (mishlawir)
#165 ranked lender in California - 10 contributions

What is the purchase price and How much will you be getting equity from the sale.There are many new programs available now on conventional as well.You can contact me directly at (619) 708-2002 and we can go through scenarios.ThanksRanda

Nov 3rd 2014
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

You can put down as much as you want, which will lower your monthly payment.

Nov 3rd 2014
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Larry Goodrow (larry_goodrow@yahoo.com)
#1042 ranked lender in California - 20 contributions

now VA only goes to $417,000 but with 10% down we could get either a conventional loan with PMI or no PMI or an FHA loan. up to $500,000 we can do a high balance loan over $417,000 for the VA for you too, they are just tougher on the property itself.let me know which way you were thinking and I can send you all paperwork needed, etcmy email is larry_goodrow@yahoo.com, send me an email about your deal and I will get back to you thanks!

Nov 3rd 2014
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Larry Goodrow (larry_goodrow@yahoo.com)
#1042 ranked lender in California - 20 contributions

email me and I can send you the application and list of items we need to approve you but it sounds like something we can do VA FHA or conventionally with 10% down

Nov 3rd 2014
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,927 contributions

More info is needed, specifically the sale price of the home you're looking at.. For VA in SB County, your maxed out at $643,750. If you go over that, then you would need 25% for every dollar above the $643,750. Looks like Hans is familiar this, and his info is good., plus he's local to you. You might want to try reaching out to him. 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

Nov 4th 2014
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