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Indigo Mortgage Offers VA Jumbo Loans

Wednesday Sep 23, 2015
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A lot of vets considering a home purchase don't know that the Veterans Administration offers a jumbo loan or how those loans work. A VA jumbo loan can be used when a veteran needs a mortgage loan of $417,000 or more.

The interest rates for a VA jumbo loan are currently below 4% for a 30 year fixed rate mortgage. Therefore, the VA jumbo loan may the best option for veterans considering a loan of $417,000 or more. Ben Lucero, the owner and president of Indigo Mortgage, says “You'd be hard pressed to find any other jumbo loan priced so low. For most vets needing that amount for a mortgage, this is the way to go.”

There are many types of VA loans and they do not require a down payment if the mortgage loan does not exceed the maximum amount that has been established for the county. However, if the loan is greater than that maximum, the veteran is required to make a 25% down payment on the difference. Let's say for example, you wanted to buy a house for $427,000, or $10,000 above the $417,000 loan limit. Because the loan is $10,000 more than $417,000, the veteran would be required to pay a 25% down payment on the $10,000 difference which is $2,500.

For a disabled veteran with 10% or more disability, the funding fee is waived for the VA jumbo loan. This is a great incentive because the funding fee can be expensive depending on whether the veteran had used their VA benefit before.

At Indigo Mortgage we assist numerous veterans with mortgage loans. We help our veterans:

  • Buy a new home
  • Consolidate a first and second mortgage
  • Refinance a short term jumbo loan
  • Start major home improvements projects

If you are considering a VA jumbo loan, we encourage you to call us at Indigo Mortgage to have all your questions answered. We are more than happy to help our veterans in any way we can.

Indigo Mortgage is a locally owned and operated company, serving homebuyers in Colorado and New Mexico. For questions about selecting a mortgage lender, contact Indigo Mortgage in Colorado Springs at (303) 571-5700. Indigo Mortgage in Colorado proudly focuses on VA Loans. They are licensed by the Nationwide Mortgage Licensing System (NMLS #188348), and can provide loans anywhere in Colorado and New Mexico.

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