Financing amount over VA limit of $417K

VA requires that financing a home over the 417K limit requires that the purchaser put don 25% of the difference. Is there a way that this can be rolled into the note or must it actually be paid in cash from the borrower at closing? Home is 475K which would require 14.5K down. Can you finance for say 490K showing the 14.5K as a seller concession?

1 Answer

Nice idea, but won't work. Seller concessions can offset closing costs, prepaids, and VA funding fee, but don't count towards down payment.