With interest rates at record lows the home of your dreams may be closer within reach than you realize. In 2012 the VA Jumbo loan limit was increased to $1million for qualifying veterans. A jumbo loan is defined as any loan greater than $417,000. Part of the great news is that down payments are minimal on these loans and interest rates are below 4%! For any VA loan up to $417,000 VA guarantees the entire amount and $0 down is required. For any amount over $417,000 the borrower is only required to put down 25% on the amount over $417,000. For example, on the Lakeside Chateau valued at $562,021, the down payment would only be $36,255. If you have this amount in cash, investment or home equity you are good to go! At 3.75% interest on a 30 year fixed loan the monthly principle and interest payment would only be $2,434. Imagine living in this Mediterranean Castle directly on a lake for such a low monthly investment. We will probably never see interest rates this low again in our lifetime! Now is a once in a lifetime opportunity to lock in a payment as low as it will ever be on the home of your dreams in The Oaks. Think 10 years from now, what will you wish you had done today? Don’t settle for less, come out today and join the many other families who are living their dream in The Oaks!
*Rates subject to changes in market conditions, other fees man apply, w.a.c.
