VA Loans

VA Home Loans 

VA Guaranteed Home Loans are made by private lenders and the VA, ie the U.S. Department of Veteran Affairs  guarantees them for eligible veterans to purchase a home, Single Family, Condominiums, and 2-4 unit multi family homes.  The VA guaranty protects the lender against loss if the Veteran fails to repay the loan.   No down payment is required on most VA guaranteed home loans and the veteran borrower usually receives a very competitive interest rate compared with other loans.

Here are some of the benefits with VA loans:

  • Competitive fixed interest rates
  • Zero down payment required – up to your County VA Loan Limit
  • Closing costs are typically lower than conventional or FHA Loans
  • NO PMI
  • No Prepayment Penalties
  • VA Loans are assumable to qualified Veterans – makes your home more saleable
  • New VA Jumbo Loans allow higher 100% financing for VA Loans
  • You can exceed the county VA loan limits by contributing a down payment (usually smaller than what is required on conventional or FHA Loans)
  • VA Jumbo Loans info here.

Check out the California County VA Loan Limits

VA Loans do not require mortgage insurance, however the VA requires a funding fee to issue a guarantee to a private lender against future VA borrower default on a mortgage.

The VA Funding Fee can be Financed into the loan (typical) or paid in cash by the buyer or seller.

VA loans can be used to buy a home, refinance your home, consolidate debts, or just lower your interest rate.

VA Loans require a  Certificate of Eligibility from the VA.  which must be obtained to qualify for a VA loan.

Call us to get started, we can help you attain your VA Certificate of Eligibility and get Pre-approved for your VA Loan.