2023 Torrance VA Loan Limits and VA Minimum Down Payment requirements Here are the Torrance VA Loan Limits and VA Minimum Down Payment requirements for 2023 for qualified Veterans and Active Duty Military Personnel.
- Maximum VA Loan for qualified Veterans with full VA Entitlement: $2,000,000
- Maximum VA Loan for qualified Veterans with partial VA Entitlement: $2,000,000 (down payment required)
- Torrance VA Loan Limit – $1,089,300 (only applies to Veterans with partial VA Entitlement)
We offer VA Loans up to $2.0M loan amounts with no down payment for qualified Veterans with full VA Entitlement available. Veterans with partial VA Entitlement can also qualify up to $2m for their VA Loan when accompanied by the appropriate down payment to meet the VA minimum guaranty requirements.
Torrance Veterans are not limited to the Los Angeles County Loan Limit of $1,089,300, we offer VA Loans up to $2.0M loan amounts.
Here is a scenario for a Veteran with Partial VA Entitlement. Torrance Veteran has a current VA Loan with an original balance of $350K (that is the amount charged against VA Entitlement). Same Torrance Veteran wants to purchase a home in Los Angeles County with zero down. The maximum VA Loan for this scenario is $739,300.
Now let’s say our same Torrance Veteran wants to purchase a home for $800k, and not payoff the other VA Loan. In the scenario, the Veteran would need a down payment of $15,175 for that $800K Torrance home purchase. Give me a call at 760-752-4480 and we can calculate your options.
VA Loans that exceed the VA County Loan Limit of $1,089,300 for Torrance are also known as VA Jumbo Loans, VA High Balance Loans, and VA Super Conforming Loans.
Call today to get started with the VA Loan Pros at VanDyk Mortgage – 866-900-2342 toll free direct, or 760-752-4480 talk/text direct. or get started online here
VA Loans and VA Jumbo / VA High Balance Loans are available as soon as 2 years after Bankruptcy, 2 years after a foreclosure, and 2 yrs after Short Sales (sooner if the loan was not a VA Loan and had no late payments prior to the Short Sale).
We are a Privately held Direct Lender offering a full suite of Purchase Loan options: VA, VA Jumbo, VA High Balance, VA, VA High Balance, VA Jumbo, Conventional, Jumbo, VA High Balance, Single Family, VA Condo, and VA 2-4 unit.