The benefits of serving in the United States military are significant. Affordable healthcare, retirement pay and tuition assistance are just a few of the reasons why people join up. Many Veterans, however, aren’t aware that easy financing through VA home loans is an attractive alternative to traditional mortgage options in their journey to homeownership. Here are just a few of the ways VA home loans differ from other mortgage… Read More
How the Mortgage Rate Drop Will Affect the Housing Market (Infographic)
Share this Image On Your Site </p><br /><br /><br /><br /><br /><br /><br /><br /><br /> <p><strong>Please include attribution to SoCalVaHomes.org with this graphic.</strong></p><br /><br /><br /><br /><br /><br /><br /><br /><br /> <p><a href=’https://www.socalvahomes.org/2019-mortgage-rate-drop-infographic/’><img src=’https://www.socalvahomes.org/wp-content/uploads/2019/09/So-Cal-VA-Homes-How-the-Mortgage-Rate-Drop-Will-Affect-the-Housing-Market.jpg’ alt=’How the Mortgage Rate Drop Will Affect the Housing Market’ 540px border=’0′ /></a></p><br /><br /><br /><br /><br /><br /><br /><br /><br /> <p> The Current Market: Mortgage interest rates are at the lowest… Read More
2013 California VA Loan Limits
VA loans aren’t made by the department of the VA but are rather guaranteed by the VA. Below is an updated list of loan limits by county in the state of California. County Name Single Family Home ($0 down and up to) Max Guaranty ALAMEDA $1,050,000.00 $1,000,000 ALPINE $463,450.00 $1,000,000 AMADOR $417,000.00 $1,000,000 BUTTE $417,000.00 $1,000,000 CALAVERAS $417,000.00 $1,000,000 COLUSA $417,000.00 $1,000,000 CONTRA COSTA $1,050,000.00 $1,000,000 DEL NORTE $417,000.00 $1,000,000… Read More
2012 VA Lending Limits For California
Did you know the VA doesn’t actually make loans? Private lenders do. If a VA loan is approved and meets guidelines set forth by the VA and the lender, the VA will guarantee a portion of the loan. Generally, the VA will guarantee the first 25% of the loan, which is why veterans are not required to put down any money if they don’t want to. It is possible to… Read More
The Blue Water Bill: What It Means for VA Loan Limits
The Blue Water Navy Vietnam Veterans Act of 2019 is a key piece of legislation that will have a sweeping effect on the VA home loan program for years to come. This act extends benefits to certain Vietnam War Sailors who served between 1962 and 1975 and uses changes in the VA loan program to pay for some of the required measures. The most significant of these changes is… Read More
Industry Interview: How to Be Financially Prepared Before Buying a Home with a VA Home Loan
Let’s face it: buying a house is a big decision. For most people, including many Veterans, it’s the biggest financial choice they’ll make in their entire lives. This decision can also be one of the most rewarding when done right, and that means getting financially — and mentally — prepared for it. As part of our commitment toward educating Veterans about the VA home loan process, we reached out… Read More
3 Ways to Obtain Your VA Certificate of Eligibility
The VA Certificate of Eligibility (COE) is one of the most critical documents in the VA home loan process. This certificate serves as proof of a Veteran’s military service and provides important information to the lender. If you want to get your hands on your COE but don’t know where to start, we’re going to take a look at three ways you can obtain your VA Certificate of Eligibility…. Read More
How is VA Loan Entitlement Calculated?
As a Veteran, you’ll hear the phrase “VA loan entitlement” used often when you start exploring your military benefits. A simple way to define entitlement is the maximum amount of guarantee that the VA will provide to a lender on a Veteran’s behalf. A common misconception is that entitlement is the maximum loan amount you can get. Not true! Your entitlement amount is just a fraction of your zero-down… Read More
Does GI Bill Count as Income for Mortgage
Whether you’re looking to pursue a new career path or just pick up a new skill, the GI Bill is an invaluable tool for Veterans of all backgrounds. Since 1944, the GI Bill has helped millions of Veterans pursue trade school and higher education while fueling American economic prosperity for the long term. The updated Post 9/11 GI Bill, rolled out in 2009, expanded the benefits to include a… Read More
Refinancing & New VA Loan Limits
Many Veterans are interested in how refinancing affects their VA home loan entitlement. We hear questions like, “Do the new VA loan limits apply to me if I refinance?” and “How can I restore my VA loan entitlement by refinancing?” Today we’re going to look at what these new limits are and how they might impact a Veteran’s decision to refinance. Current VA Loan Limits Starting in 2020, the VA… Read More
