Question 1

Can I use a VA loan in Woodside if homes cost over $2 million?

Accepted Answer

Yes, but you'll need 25% down on the amount exceeding $806,500. Few lenders approve VA loans above $2 million total.

Question 2

Do I pay the funding fee on the full loan amount?

Accepted Answer

Yes. The 1.4%-3.6% fee applies to your entire loan balance, not just the amount above the VA limit.

Question 3

What if the home needs repairs identified during VA appraisal?

Accepted Answer

Seller must complete repairs before closing, or you negotiate a price reduction to handle them. VA won't fund with safety issues present.

Question 4

How long does jumbo VA underwriting take in Woodside?

Accepted Answer

Expect 30-45 days with experienced lenders. Complex property types or income structures can add two weeks to the timeline.

Question 5

Can I waive the VA appraisal to compete with cash offers?

Accepted Answer

No. VA appraisal is mandatory and non-waivable. You can offer rent-back terms or faster closing to strengthen your position instead.

VA Loans in Woodside: Zero Down in San Mateo County's Premium Market