VA Loan Center of Texas, a Division of Mortgage Express,
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VA Loan Center of Texas
VA Loan Center of Texas
VA Loan Center of Texas

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VA Jumbo Loans

The state of Texas has a max county limit of $417,000 for VA home loans. However, if you are looking to purchase a home above this sales price the VA will allow up to $1,000,000, but a down payment would be required. The primary goal is to verify the minimum guaranty required by the VA is satisfied through the veteran’s entitlement and down payment.

  • No portion of the down payment can be derived from borrowed funds
  • Minimum guaranty required by the VA is 25% of the lesser of the appraised value or sales price
  • Maximum guaranty is lesser of 25% of the $417,000 max limit or 25% of the loan amount

Here’s a calculation example for educational purposes only:

Sales Price (SP): $1,000,000
Appraised value (AV): $1,200,000
VA Funding Fee (FF) (for first time use of VA entitlement is 2.15%) $21,500
Veteran is requesting a base loan amount (SP + FF) $1,021,500
Minimum VA Guaranty = 25% of $1,000,000(SP) $250,000
Maximum VA Guaranty = 25% of $417,000 (max county limit) $104,250
**Since the Minimum VA Guaranty required is greater than the Maximum VA Guaranty, a cash down payment is required from the veteran, and the loan amount needs to be reduced by the amount of the down payment.
Required Down Payment = Minimum Guaranty less maximum
Available entitlement ($250,000 - $104,250)
$145,750
Adjusted Base Loan Amount = Sales Price – Cash down payment
($1,000,000 - $145,750)
$854,250
Adjusted Base Loan Amount with VA Funding Fee added
($854,250 + $18,366)
$872,616