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VA Zero Down Home Loan Limits Increased For 2014 In San Diego CA

By
Mortgage and Lending with Caliber Home Loans NMLS#284800

VA Zero Down Home Loan Limits Increased For 2014 In San Diego CA - The VA Zero Down Loan Limits for 2014 have been released and San Diego County is seeing a slight increase from $500,000 to $527,500.  The new limits apply to all loans closed January 1, 2014 through December 31, 2014.

Does this mean that the maximum VA loan is only $527,500?  Absolutely not.  This just means that someone purchasing a home and utilizing their VA Home Loan Benefits in San Diego County will be required to have some down payment if purchasing a home with a sales price greater than $527,500. 

An easy way to calculate the required down payment for purchase prices above the Zero Down VA Loan Limit is to subtract the new Zero Down VA Loan Limit from the purchase price and divide by four. 

So for a purchase price of $550,000 the minimum down payment would be $5,625.  For a purchase price of $600,000 the minimum down payment using a VA Home Loan would be $18,125.

Some other areas in California saw the maximum Zero Down VA Loan Limit For 2014 increase as well.  For example, both Orange and Los Angeles Counties will see their limits increase  from $668,750 to $687,500

In Northern California, certain counties still have a very high Zero Down Loan Limit For 2014 of $1,050,000 up from $987,500 including Alameda, Contra Costa, Marin, San Francisco, and San Mateo Counties.

Looking for a VA Home Loan in San Diego County or any other part of California?  Contact me today so that we can discuss your VA home loan options.

Posted by

 Kevin Kueneke, NMLS # 284800
San Diego County Mortgage Specialist
VA Mortgage Loan Specialist | FHA Mortgage Loan Specialist
Direct Lender | Mortgage Banker
Phone 760-500-1919 | Fax 619-419-2324

Visit My Website: kevinkloans.com 

Mann Mortgage LLC | NMLS #2550
11230 Sorrento Valley Road Suite 225| San Diego CA 92121

Comments(2)

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Laurie Martinez
Berkshire Hathaway HomeServices California Properties - Dana Point, CA
South Orange County Real Estate

That is encouraging news in this area where we see so many military and former military buyers!

Jan 07, 2014 08:38 AM
Kevin Kueneke
Caliber Home Loans - Encinitas, CA
San Diego Mortgage Banker

Hi Laurie - definitely encouraging news, especially since the FHA loan limits for 2014 decreased.

Thanks for the comment!

Jan 07, 2014 08:43 AM