If you currently reside in California and you are either a Veteran or Active Duty, you may be eligible to purchase or refinance your home with a VA Loan. There are different loan limits depending on the county you live in. If you have served in the US Military and received an honorable discharge, you have VA Loan eligibility. The Veterans Administration guarantees VA Loans up to a certain percentage of the loan amount. VA Loans in California are also assumable from other Veterans or family members of Veterans. Give us a call to find out if you are eligible for a VA Loan in California. One of our representatives would be happy to discuss your VA Loan options in California.
California VA Streamline Loan
Even if your loan is "under water” or you have no equity in your home, it is still possible to refinance your VA Loan in California. VA Loan Leader works with lenders in California who do not require an appraisal or AVM (automated valuations) for your California VA IRRRL.
If you have VA disability benefits greater than 10%, you are exempt from the VA Funding Fee. If not, Veterans in California are subject to a VA Funding Fee of 0.5% of the loan amount. The VA Funding Fee is much cheaper when you refinance. The VA Funding Fee can be rolled into the loan amount and paid down over the full term of the loan.
New Home Purchase with a California VA Home Loan
Many Veterans do not take advantage of their VA Benefits when purchasing a home in California. The average down payment on a VA Loan in California is between 0% – 2.5%. This is the lowest down payment loan available on the market today. Even FHA Loans have an average down payment of between 3% - 4% of the appraised value of the home. This makes the VA Loan an extremely attractive loan for home buyers. Especially in California where home prices are so high and traditional loans that require down payments of 20% or more can end up requiring hundreds of thousands of dollars for the down payment alone.
VA Loan Leader supports the following Military Bases in California
Camp Pendleton Marine Base Oceanside, CA
Coronado Naval Base Coronado, CA
Miramar Air Station San Diego, CA
Beale Air Force Base Marysville, CA
Edwards Air Force Base Edwards, CA
McClellan Air Force Base Sacramento, CA
Travis Air Force Base Fairfield, CA
Vandenberg Air Force Base Lompoc, CA
North Island Naval Complex San Diego, CA
Point Loma Naval Base San Diego, CA
Fort Irwin Army Base Barstow, CA
Fort Hunter Liggett Army Base Monterey, CA
Los Angeles Air Force Base El Segundo, CA
March Air Reserve Base Riverside, CA
Presidio of Monterey Army Base Monterey, CA
Barstow Marine Corps Logistics Base Barstow, CA
San Diego Marine Corps Recruit Depot San Diego, CA
Mountain Training Center Pickel Meadows, CA
Integrated Support Command Alameda Alameda, CA
TRACEN Petaluma Petaluma, CA
El Centro Naval Air Facility El Centro, CA
Naval Postgraduate School Monterey, CA
Naval Air Weapons Station China Lake, CA
San Diego Naval Station San Diego, CA
Seal Beach Naval Weapons Station Seal Beach, CA
Naval Air Station Point Mugu Point Mugu, CA
Lemoore Naval Air Station Lemoore, CA