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Before 1/1/20 the VA would only guarantee up to 25% of the county maximum. This is the price at which a loan is considered a jumbo loan. Currently the most common county limit is $510,400. So the VA would guaranty127,600 = 510,400 * 0.25. Basically any non-jumbo loan required no down payment. Jumbo loans required a down payment in the amount to bring the total guarantee back up to 25%. So a house with a purchase price of $750,000 would be guaranteed up to $127,600 but require $187,500 in guaranty (750,000 * 0.25 = 187,500) so $187,500 - $127,600 = $59,900.

Under the new rules there is no limit to the guaranty so you could purchase with a jumbo loan 0% down like you could a non-jumbo.

This isn’t to endorse the idea that 0% is a good idea, it generally is not, but there are situations where this new calculation methodology would be beneficial.

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Thank you for the explanation.

TLDR?

In English?

What’s this?!?

Lever up. Rates coming down even further. Free money at this point

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