Question 1

Can I use a VA loan on a $4 million Atherton property?

Accepted Answer

Yes, but you'll finance $806,500 with zero down and need 25% of the remaining $3,193,500 as a down payment—roughly $798,375 total. Your VA benefit still provides substantial leverage.

Question 2

Why do some Atherton sellers reject VA offers?

Accepted Answer

They worry about appraisal conditions and longer timelines. A strong pre-approval from an experienced VA jumbo lender plus a quick close timeline usually solves this.

Question 3

What credit score do I need for a VA jumbo loan in Atherton?

Accepted Answer

Most lenders want 640+ for VA jumbo financing. Some will go to 620 with strong compensating factors like high residual income or substantial reserves.

Question 4

Does the VA funding fee apply to expensive properties?

Accepted Answer

Yes, it's 2.15-3.3% of the entire loan amount regardless of price. On an $806,500 loan, that's $17,340-$26,615 unless you have a service-connected disability waiver.

Question 5

How does VA jumbo financing work above the county limit?

Accepted Answer

You get zero down up to $806,500. Above that amount, you need 25% down on the excess. A $1.2 million purchase requires roughly $98,375 down plus closing costs.

VA Loans in Atherton: Zero Down on Million-Dollar Properties