VA Guaranteed Loans in Oregon do not require a down payment if the purchase price/loan amount is below $417,000. However, if the purchase price is above that amount, then a down payment is require, which still could be the best way to go for many veterans. The VA Guaranteed Home Loan is, to my thinking, one of the best benefits we have for our veterans.

The down payment requirement for loans over the $417,000 amount is equal to 25% for the amount over $417,000. This means that if you are buying a home for $517,000, the down payment requirement would be $25,000 (25% X $100,000). Even with the funding fee, this is still a cheaper loan than trying to get jumbo (loan over $417,000) financing which is not available with 5% down.

VA loans have a lot of advantages, one often overlooked is for financing jumbo loans with minimal down payments. In a market place where large homes are not moving quickly, now may be the time to make the move to the dream home using a VA Guaranteed Home Loan. Give me a call at 541-342-7576/541-221-3455 Cell or e-mail me and let’s discuss your possibilities. 

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