Calulating your loan limit for Multnomah County as set by the VA:
1. Veterans are not required to put any money down on the first $453,100 in Portland OR.
2. Veterans will pay a 25% down payment on the difference of a VA loan greater than $453,100.
Example: Sale price $1,000,000.00 minus guaranty of $453,100 = $546,900 x 25% = $136,725.00 down payment.
3. Veterans buyers may pay the VA Funding fee at the time of closing or finance into the loan for VA Jumbo Loans of $453,101 to $1,000,000
4. Portland Veterans will still receive all the benefits of the VA loan on amounts greater than $453,100.
1. Veterans will need a minimum credit score of 580 and lenders may have additional requirements.
2. Manufactured homes are not eligible for the VA Jumbo program in Portland.
3. VA Loan Funding fees can financed for loans greater than $453,100. They may also be paid in cash by the Veteran or by the Seller at closing.
4. Multi-Family 2 to 4 unit purchase transactions will also work with a VA Jumbo Loan on owner occupied purchases.
5. The VA Jumbo Loan Program is best with a fixed rate loan.
6. VA Funding Fee may be waived with 10% or greater service disability
7. Other terms and conditions may apply, contact your local VA Lender for details
Multnomah County Limit VA Guaranty ($0 down and up to)$453,100.00
Washington County Limit VA Guaranty ($0 down and up to)$453,100.00
Clackamas County Limit VA Guaranty ($0 down and up to) $453,100.00
Clark County Limit VA Guaranty ($0 down and up to)$453,100.00