Can I Buy a $1,000,000 Home With My VA Loan on St. Simons Island?
Written by David Burton, Realtor® | Keller Williams Realty • November 03, 2026 • St. Simons Island, GA
When senior military officers and defense leaders plan retirement to St. Simons Island, they tie up $240K in Jumbo down payments because they assume VA loan is capped. With full entitlement under Blue Water Navy Act, you can buy a $1M home in Georgia with $0 down — and if you have service-connected disability, $0 funding fee.
The Funding Fee Fix — Who Pays and Who Doesn't
1. EXEMPT — $0 Funding Fee:
If you have a VA service-connected disability rating of 10% or higher, you pay $0 funding fee on any VA loan, including $1M on St. Simons. Bring your VA Benefits Letter. Many O-5/O-6 retirees qualify.
2. Not Exempt — First Use: 2.15% = $21,500 on $1M
Can be financed — loan becomes $1,021,500. No monthly PMI ever.
3. Not Exempt — Subsequent Use: 3.3% = $33,000 on $1M — Exempt if disabled.
The Tactical Framework: No VA Loan Limits in Georgia
Georgia follows federal VA rules — no state overlay. With full entitlement, no maximum loan. $1M, $1.2M, even $11,999,000 Point Lane at 216 DOM is $0 down if you qualify. Partial entitlement? Glynn County limit ~$832,750 applies — you'd need 25% of gap: ($1,000,000 - $832,750) x 25% = $41,812 down.
Examples: Full + 30% disability = $1M loan $0 fee. Full + no disability = $1,021,500 loan. Partial + no disability = $979,687 loan + $41,812 down + $21,500 fee.
$1,000,000 Purchase: Jumbo vs VA
JUMBO $1M
$200K down required
PMI if <20%
Low velocity
Rigid DTI
Rate premium
VA $1M ⭐
$0 down full / $41,812 partial
$0 fee if disabled exempt
$21,500 first use if not exempt
No PMI ever
Rate 0.25% lower
Capital Velocity
Keep $200K liquid for rentals, syndications, business acquisition. Burying cash in primary home dead equity kills autonomy. If exempt, you keep $21,500 more. Author of E3 to Millionaire.
Command Your Next Move
Touring requires written buyer agreement in Georgia. Check your VA Benefits Letter for funding fee exemption before you offer.
Schedule $1M VA Consultation