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VA Loans in California

VA Loans in California

One of the benefits of serving in our nation’s armed forces is access to the VA mortgage program.

Through the VA loan program, you can buy a home in CA or anywhere in the US with zero down payment and other fantastic benefits. Read on to learn all about VA mortgages and their advantages.

What is a VA Loan?

A VA mortgage is a loan that is guaranteed by the US Department of Veterans Affairs (VA).

In guaranteeing your mortgage, the VA reduces its associated risk. You can qualify more easily for a mortgage as a result, and the terms governing it can be more competitive as well.

Benefits of VA Loans in Corona

VA loans boast many advantages, making them among the most competitive mortgage products around. If you qualify, you can look forward to:

  • Easy qualification, even without perfect credit.
  • Purchasing a home with zero down payment.
  • Buying a home without waiting (if a down payment would cause you to delay).
  • Affordable interest rates, regardless of your credit score.
  • No pre-payment penalties.
  • No PMI or MIP.
  • Capped closing costs (the seller may also pay them).

Most of the time when you make a low down payment, you have to pay for mortgage insurance. The fact that a VA loan lets you buy a home with zero down without having this extra payment to deal with is a great opportunity.

There is a funding fee for VA mortgages, but if you are a qualified disabled veteran, it can be waived.

Do You Qualify for a CA VA Loan?

You may qualify to take out a VA mortgage if you are:

  • A veteran
  • An active duty service member
  • An eligible surviving spouse
  • You can be in any branch of the military, including the National Guard and Reserve.

There is no restriction on the number of times you can use your VA benefits. They also do not expire. So, no matter how long ago you served, you can buy a home with a VA mortgage. Neither a foreclosure nor bankruptcy will automatically stop you from getting a VA loan.

One part of figuring out whether you qualify for a VA mortgage is determining whether you have met the minimum service requirements.

In most cases, those are 90 days of active duty wartime service or 181 days of continuous active duty peacetime service. But there are exceptions for some eras of duty. Let us know during your consultation when you served, and we can tell you if you meet the requirements.

Apply for a VA Mortgage in Corona or Beyond

To apply for a VA loan, you need to provide your Certificate of Eligibility (COE). To make the process fast and easy, we can do this for you.

Have questions or ready to apply for a zero down VA loan? Please contact us today at (951) 531-1399 to schedule your mortgage consultation. We can work with you in Corona or throughout California. We also serve veteran homebuyers and homeowners in Florida, Oregon, Nevada, Colorado and Washington State.

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Call (951) 531-1399 to learn more about our services and schedule a visit. You can also fill out our contact form and we’ll be happy to get back to you as soon as possible.