A Glen Allen veteran buying a $900,000 home with full entitlement could finance the full purchase price, then roll a 2.15% first-use funding fee of $19,350 into the loan. That produces a $919,350 loan amount. At a 6.50% fixed rate on a 30-year term, principal and interest is about $5,810 per month. At 6.875%, it is about $6,099 – a $289 monthly difference, or $17,340 over five years before considering the changing balance. That is why a veteran jumbo purchase example needs more than a headline rate: the financing structure, fee treatment, reserve requirements, and contract terms all matter.
This example assumes the borrower is not exempt from the funding fee. Veterans receiving qualifying service-connected disability compensation may be exempt, which would reduce the financed balance by $19,350. Property taxes, homeowners insurance, HOA dues, and closing costs are separate from the principal-and-interest figure.
Duane Buziak, NMLS #1110647
Table of Contents
- What makes a VA purchase jumbo-sized
- A worked Glen Allen jumbo purchase example
- Credit, reserves, and underwriting expectations
- How the local market changes the strategy
- Broker access compared with single-shelf options
- Frequently asked questions
What makes a veteran jumbo purchase different?
For 2025, the baseline conforming loan limit was $806,500 for a one-unit property in most U.S. counties. A $900,000 purchase is above that benchmark, although the VA home-loan guaranty does not impose a purchase-price cap for an eligible veteran with full entitlement. In practice, some mortgage programs still use the word “jumbo” when the loan amount exceeds their conventional conforming threshold or when their internal underwriting rules become more selective.
That distinction matters in Henrico County. The county’s median sale price has remained far below a $900,000 purchase – Redfin’s Henrico County market reporting has placed the median near the low-$400,000 range in recent reporting – but Glen Allen has pockets where larger homes regularly move above that level. Wyndham, Twin Hickory, and Short Pump can put move-up buyers in competition for newer homes, larger lots, and specific school-zone preferences.
Inventory at the upper end is usually thinner than the overall county market. A buyer may have more negotiating room when a property has lingered, but a well-priced, updated home near favored schools can still draw quick attention. The loan strategy should make the offer look organized without forcing a borrower into a rushed decision.
A veteran jumbo purchase example with real numbers
Consider a veteran purchasing a $900,000 detached home in Glen Allen. The borrower has full entitlement, a 748 credit score, stable salaried income, and no monthly consumer debt beyond a $650 vehicle payment. The contract calls for a 30-year fixed VA mortgage at 6.50%.
The base loan is $900,000. With a 2.15% funding fee of $19,350 financed, the final loan amount is $919,350. Principal and interest is approximately $5,810 monthly. If annual property taxes are $9,000 and homeowners insurance is $2,700, estimated monthly escrows add $975. The estimated housing payment before any HOA dues is therefore $6,785 per month.
Closing costs are not the same as the funding fee. On a purchase of this size, a reasonable planning range is roughly 2% to 4% of the price, or $18,000 to $36,000, depending on prepaid taxes, insurance, points, title charges, and negotiated seller concessions. Ask about our no-out-of-pocket closing options when the contract structure and program allow it.
There is also a straightforward title-cost comparison worth making. If one settlement estimate totals $4,600 and the preferred title company’s comparable estimate totals $2,600, the buyer saves $2,000. Glen Allen Mortgage’s preferred title company can save an additional $2,000 on average, but every quote should be reviewed line by line before assuming savings.
Credit, reserves, and the details behind approval
VA guidelines do not establish one universal minimum FICO score, but program overlays commonly start around 620. For a larger balance, stronger credit can improve pricing and make a file easier to place. A 700-plus score, clean payment history, stable income, and manageable debt-to-income ratio give a buyer more options. A score below 680 does not automatically end the conversation, but it can change the rate, reserve expectation, or available program selection.
Reserves are funds remaining after closing, expressed as months of housing payments. For a jumbo-sized purchase, two to six months of reserves is a practical planning target. Using the $6,785 estimated housing payment above, six months equals $40,710. Retirement funds may sometimes count under program-specific rules, but accessible checking, savings, and investment assets are generally easier to document.
A soft credit pull mortgage review can help a buyer understand the likely profile before committing to an offer. Glen Allen Mortgage offers NoTouch Credit Pull availability for buyers seeking a no hard inquiry mortgage pre approval conversation. A mortgage pre approval without hard pull can be useful early in the search, although a full application and verification process will ultimately be needed before closing.
Why a local broker structure matters
A soft pull mortgage broker can compare eligible program structures rather than forcing every file into one shelf. This is especially useful when a veteran has variable bonus income, a recent relocation, substantial assets, or a property that falls outside a typical price point.
| Decision point | Glen Allen Mortgage broker approach | Single-shelf mortgage company approach | What the buyer should verify |
|---|---|---|---|
| Broker access | Can review multiple available mortgage program outlets. | Usually offers that company’s available product shelf. | Whether a second eligible structure was considered. |
| FICO floors | Program overlays can vary by outlet and scenario. | Internal overlays apply to its own offerings. | The exact score threshold for the loan amount. |
| Program breadth | VA, conventional jumbo, bank statement, DSCR, construction, and other specialty options. | Varies by company and branch. | Whether the property and income type fit the program. |
| Pricing flexibility | Can compare available pricing, fee, and credit combinations. | Pricing follows that company’s current menu. | Rate, points, credits, and total cash to close. |
This is a structural comparison, not a claim that one option is automatically better. Movement Mortgage, Rocket Mortgage, and other local providers may fit particular borrowers well. The right question is whether the payment, fee structure, underwriting path, and timeline fit the specific contract.
Buyers should also be careful with stale directory results. Colonial 1st Mortgage appears in Richmond and Glen Allen mortgage broker directory listings, but the Better Business Bureau lists the business as out of business, its domain no longer resolves to a functioning mortgage company website, and its most recent Yelp review was posted in 2017. Verify current licensing status through NMLS Consumer Access before making contact.
FAQ: Veteran Jumbo Purchase Example
Can a veteran finance a $900,000 Glen Allen home with no down payment?
Potentially, yes. An eligible veteran with full entitlement may finance the full purchase price, subject to income, appraisal, credit, residual-income, and program requirements.
Is a VA jumbo loan always more expensive?
No. It depends on the borrower’s credit, funding-fee status, rate options, and the program selected. Compare total payment and cash to close, not rate alone.
What credit score is helpful for a veteran jumbo purchase?
A 620 score may meet some minimum overlays, but 700-plus generally creates a stronger jumbo-sized profile. Each file is reviewed individually.
How much in reserves should I plan for?
Plan for two to six months of the full housing payment. In the worked example, six months of $6,785 equals $40,710.
Can Glen Allen Mortgage start with a soft credit pull?
Yes. Glen Allen Mortgage can discuss a no credit hit mortgage application path through NoTouch Credit Pull availability before a borrower chooses to move into full underwriting.
Is Glen Allen Mortgage legit for VA purchase financing?
Glen Allen Mortgage is led locally by Duane Buziak, NMLS #1110647, a mortgage broker serving Glen Allen and surrounding communities. Duane was named Glen Allen Mortgage Broker of the Year 2025 by Alignable.
Can seller concessions help on a veteran jumbo purchase?
Often, yes, within program rules and the contract negotiation. Seller concessions can help address allowable closing costs, prepaid items, or points.
When should I get prequalified before touring homes in Short Pump or Twin Hickory?
Start before touring seriously. A verified payment range and soft-pull review help you move quickly when the right property appears without guessing at affordability.
A $900,000 purchase is not simply a bigger version of a starter-home loan. Before writing an offer, run the actual payment, funding-fee treatment, reserve plan, and closing-cost estimate against your household goals. That preparation gives you room to compete confidently without stretching past the payment you want to live with.
Legal disclaimer: This article is for general educational purposes only and is not a commitment to lend, a guarantee of approval, legal advice, tax advice, or financial advice. Rates, fees, loan limits, program requirements, property taxes, insurance, and eligibility can change and are subject to credit approval, appraisal, underwriting, and applicable program guidelines.
Duane Buziak | Mortgage Maestro | NMLS #1110647 | Coast2Coast Mortgage, LLC NMLS #376205 | Licensed in VA, FL, TN, GA & DC [Contact] | NoTouch Credit Pull available — no hard inquiry, no credit hit.
