California VA Loan

The Pacific Home Loans California VA Loan is available for veterans looking to refinance or purchase their home.

There are several reasons why a VA Loan may be preferable to a standard loan. Most importantly, upon qualification, you may obtain a VA Loan even if you do not qualify for other types of loans.

For a no doc refinance option, see VA Streamline refinance.

California VA Loan

New VA Home Loan Limits Coming January 2020!
Starting Jan. 1, 2020, when the new law takes effect, the VA will not cap the size of a loan a veteran can get with no money down, paving the way for veterans to buy higher-value homes; however, the lender may still issue a cap and deny a large loan.

Will VA loan limits increase in 2020?
VA funding fee to increase:
The fee for first-use, zero-down loans will be 2.3% of the loan amount in 2020, up from 2.15% for regular military in 2019.
The fee for subsequent use loans will be 3.6% of the loan amount, up from the current 3.3%.

VA Loan Benefits

  • 0% down
  • No monthly mortgage insurance (PMI)
  • Discounted interest rates
  • No cash due at closing possible
  • Flexible underwriting
  • Great for first time home buyers

California VA Jumbo Loan

VA is not just for the First-time home buyer. Are you shopping for a California Jumbo loan and a veteran of the U.S. Armed forces?

California VA Jumbo Loan Features:

  • VA Jumbo loans up to $1,000,000
  • No monthly mortgage insurance (PMI)
  • Discounted interest rates
  • Flexible underwriting

VA Jumbo Loan Down Payment Options:

The VA jumbo loans offer low down payment options. These loans require 25% down for any amount over the conforming loan limit.

The following is a sampling of California conforming loan limits*:

Orange County $822,375
Los Angeles County $822,375
San Diego County $753,250
Riverside County $548,250

* For a complete list of California conforming loan limits by county, click here.

How to calculate the minimum down for your California Jumbo loan:

Calculation Example: Orange County $1,000,000 purchase

Subtract the purchase price from the applicable state conforming loan limit: Orange County $822,375

– $822,375
= $177,625

$177,625 x 25% = $44,406.25

The minimum down for an Orange County $1,000,000 purchase financed with VA jumbo loan is $44,406.25.