VA Home Loans In California

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One of the best mortgage products available to consumers is the VA home loan. Not everyone can access the program, more on this below, and not every lender offers VA home loans. Having options when buying a home or refinancing a mortgage is important and working with a lender who has the ability to offer a wide variety of home loan products is an absolute must.

What Is A VA Home Loan?

A California VA home loan is a mortgage product for those that have served our country as a member of the armed forces. The program helps veterans buy, build, repair, and adapt homes and is available to all current and previous members of the armed forces.

VA Home Loan Limits In 2022

The VA home loan limit in California matches the conforming loan limit of $647,200.00. VA home loans can go higher however when they do they are considered jumbo VA home loans.

What's the maximum?

The VA home loan program doesn't have a maximum but most lenders that provide them do. Typically lenders set there maximum loan amount at $1,500,000 to $2,000,000.

Who Provides VA Home Loans?

Many homebuyers and homeowners believe that U.S. Department of Veteran Affairs provides home loans and that is not the case. Mortgage lenders are the ones the provide the loan and follow the guidelines set forth by the U.S. Department of Veteran Affairs.

California VA Home Loan Refinance Options

Are you currently a homeowner in California looking to refinance your existing mortgage? Did you sever in the U.S. Armed Forces?

Then you should consider a VA Home Loan. Mortgage rates are super competitive, and if you're not taking cash out then you have access to one of the best refinance programs in the industry.

Fixing up a home and need funds to make that happen?

The VA Renovation Home Loan is a great way to make this happen. It allows for up to a maximum of $50,000 in additional funds for improvements to your home (above the amount you currently owe).

Thousands of homeowners access this program every year.

VA Home Loan Funding Fee

Like the FHA home loan program, the VA home loan program has a "funding fee". Not every veteran pays a funding fee and to be eligible for a waiver (granted by the VA) you need to have a disability letter from the VA.

The funding fee is 2.3% the first time you use it, and 3.6% every time thereafter. 

VA Home Loans

As you can see, the VA home loan program is a great option for those that have served this country in the Armed Forces. Purchase, Refinance and Renovation loans are all available and rates are surprisingly low.


Comments (1)

Debe Maxwell, CRS | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Great information on VA home loans for those in California Kevin. Thanks for sharing!

Feb 14, 2022 12:58 PM