Q&A With Ashok Ghildyal: A VA Mortgage Benefits Specialist Discusses VA Jumbo Financing

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Haven Magazine has been created for people buying Luxury homes.  We encourage our subscribers to examine all options for financing their purchases.  Often overlooked is the VA Mortgage Benefit as a viable and competitive option.

It must be emphasized that the Veterans Administration has made great strides and adjustments to make VA Jumbo Loans more accessible to the Luxury Home market.

We talked to Ashok Ghildyal, a loan officer for PrimeLending who specializes on the VA Mortgage benefits, to discuss recent changes and how meaningful they are.

What is the biggest change to the VA Jumbo Loan Program?

Ashok: The passage of Blue Water Navy Vietnam Veterans Act of 2019 expanded the no down payment benefit to cover any purchase price.

What do you think the impacts of these changes will be?

Ashok: Over time, the VA Jumbo financing will become the 1st choice for Veteran buying Luxury Homes like the ones Showcased in Haven Magazine.

Why do you think these changes happened when they did?

Ashok: I think the Veterans Administration realized that it was unintentionally “penalizing” the veterans for “being successful.”  This healthy housing market may have persuaded them to change the policy so that every eligible veteran could get 100% financing.

Can you give an example?

Ashok: We recently did a $2.25 Million Purchase in Los Angeles with $0 down payment required.

Will you give an example in Dollar terms?

Ashok: New VA Jumbo $0. The old Formula $319,800 vs 20% for a regular Jumbo $450,000.  To reiterate The veteran bought the above-mentioned $2.25 Million Dollar home with no Down Payment requirement.

Who can attest to this – sounds too “good to be true”?

Ashok: My friend and affiliate Bjorn Eklund has agreed to take calls on his cell phone at 925-775-8206.  He is a Realtor with Keller Williams in Beverly Hills, CA.

Is there anything else that stands out about the VA Jumbo Financing?

Ashok: It is a simple straightforward loan.  The guidelines do not change whether it is a $200,000 or $2,000,000 loan!!

What specific advice do you have for VA Jumbo Buyers?

Ashok: Please consult a loan officer and explore all options – sometimes,  no down payment may not be the suitable choice – at least look at all the numbers before you decide.

ASHOK GHILDYAL
LOAN ORIGINATOR

Ashok Ghildyal is a Loan officer with PrimeLending and is regarded to be a subject matter specialist on the VA Mortgage benefit.  He has been teaching continuing Education courses to Realtors Since 2013. He can be reached on his Cell phone at 51 3-600-4961  or via e-mail  aghildyal@primelending.com.

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