Qualifying for a Virginia Jumbo Loan
Qualifying for a jumbo loan vs a conventional loan is very similar and is not difficult. The requirements for credit score and down payment are higher, but they are not so different from those you would need to meet for conventional financing.
A higher credit score of 700 or higher.
Debt to income 43%, but in some cases can be as high as 50%.
You should have a minimum of six months of cash in reserves after closing.
The down payment requirement for a jumbo loan is 10-20% depending on loan amount and credit score.
With offices in Blacksburg, Marion, and Abingdon we provide jumbo loans in Virginia including Blacksburg, Christiansburg, Roanoke, Abingdon, and the surrounding areas.