Expert Advice on VA Loans | Valor Lending Group
Veterans and service members are you looking to buy a home in the beautiful state of California?
Are you looking to learn about our expert advice on VA Loans?
California is a state where dreams are made! And although it is one of the most expensive places to live in the United States, it is still the most desired.
VA loan programs allow those who are currently fighting and for those who have fought for our country access to a VA home loan, typically with no down payment required. San Diego VA Loans are available for active duty members, retired veterans, National Guide and those who are in the reserves.
There are pros and cons to California VA loans. The pros are fixed and adjustable-rate mortgages, FHA loans, Jumbo loans, refinance loans, and cash-out loans. Also, 100% financing , no private mortgage insurance, no pre-payment penalty, online pre-qualification, education resources and free credit counseling. The cons are high fees (VA funding fee | This can be waved to those that qualify), home equity loans and HELOCs are not available.
The maximum VA loan limits with zero down payment very by county.
In San Diego County a single-family residence is $753,250, two-family residence is $946,300, three-family residence is $1,165,600 and four-family residences are $1,448,600. In Los Angeles and Orange County single-family residences are $822,375, two-family residences are $1,053,000, a three-family residences are $1,272,750, and four-family residences are $1,581,750.
Being a Veteran myself, I am a proud supporter of all service members and their families. I will work to give you the best experience from beginning to end, through the purchase or refinance of your new or current home.
Valor Lending Group strives to deliver excellent communication and we will get you the best deal that fits your needs.
We are available and ready to start a scenario for you today.
What Are VA Loans?
The VA home loan, backed by the Department of Veteran Affairs, was first created in 1944. This loan assisted service members with purchasing or refinancing a home after returning from war without requiring a great credit score or down payment to do so. Later, some lenders increased their loan limits to above the county loan limits to assist current service members and veterans with larger purchases in areas where the conforming and high balance loan limits were much lower that the average house in the area. VA loans are up to 100% financing, limited closing costs, low interest rates for all who qualify whether it is a purchase or refinance including a cash out refinance and no mortgage insurance.
Why Use VA Loans?
VA loans are the right of any service member who serves or has served in the armed forces and received an honorable discharge. It is structured in a way, to include the lowest interest rate, highest amount of leverage, being backed by the VA, to provide our service members and veterans a fantastic VA benefit because of the sacrifice that they or their spouses have made to protect and defend our amazing country. Thank you for serving! This is one of the most valuable benefits for serving. The qualifying income is viewed in conjunction with all debts, and a debt-to-income (“DTI”) ratio is calculated. Traditional mortgage lenders would be required to have a DTI of no more that 50% even with a lower credit score and 100% financing.
Finding The Best VA Lenders
Many VA lenders and banks do have a retail channel, but not all VA lenders and banks can provide funding above the conforming high balance county limits. Those lenders typically do not have a retail channel but instead require the use of a broker. The best VA brokers will make sure to find the best VA lenders with the most favorable terms regardless of the borrower’s financial situation. It is in the broker’s best interest to find the lowest rate and most favorable terms available to best serve their VA loan clients. If you are considering purchasing or refinancing a property using a VA loan, it is best to make sure you maintain your Service documents i.e., Certificate of Eligibility, DD214, VA Award letter and VA disability and/or retirement benefit information. As well as, tax records, W2’s, 1099’s and paystubs.
Additionally, keep organized bank statements, retirement account statements and savings for a down payment. Be prepared by speaking with a broker to obtain a preapproval letter. Valor Lending Group is a veteran and service member supporter and we donate 5% of our commission on every VA loan to a veterans charity of the borrower’s choosing and will reimburse for appraisals with loan amounts over $300,000.
Valor VA Loan Highlights
- 100% financing
- Sellers can pay closing costs, up to 2 discount points
- Buyers can add up to $6,000 to their VA loan to have energy efficient improvements installed
- No monthly mortgage insurance
- Less restrictive qualifying terms
- Buyers still eligible even after a short sale
- Jumbo loans available up to $1.5 million
- Buyers can have multiple VA loans under certain circumstances
- *Valor will reimburse your appraisal fee for loans above $300,000
For a quote please email Stephan Prescher the following:
- Property Address:
- Purchase Price (for purchase):
- Current Value (for refinance):
- Balance of current Mortgage (for refinance):
- Approx. Credit Score:
Learn more about VA home loans
Valor Lending Group is committed to serving our Veterans during this time of uncertainty.
**We give 5% of proceeds to a local Veteran charity on every VALOR VA Loan
CALL OR EMAIL me for immediate attention to your scenario!
Valor Lending Group can fund your fast-hard money loan up to $10mm in as little as 7 days often without an appraisal.
I look forward to an opportunity to demonstrate my prompt and professional service.
Recap of our Loan Products:
- Hard Money Loans (20% down / minimal documentation) Typically Fund in 7-10 days.
- Stated Income Loans (Great for business owners and self employed ) No tax returns!
- 100% financing is available (we can cross collateralize other properties if there is enough equity)
- Valor VA Home Loan 100% financing up to $1.5MM
- Rental Property Loan – No tax returns or DTI calculation! Based on subject property cash flow – No DSCR Coverage needed!
- Flipper & Rehab Loans (Flip a property with one of our many options)
- 2nd Position Loans up to $5mm
- Raw Land & Lot Loans
- Ground up Construction for spec homes, custom homes and commercial ground up.
- Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
- 5% down Jumbo’s with NO MI up to $2mm / 10% down up to $3mm
- Manufactured Housing / Mobile Homes (20% down / 600+ credit score)
- Acreage Properties
- Commercial Loans up to $500mm
- 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
- Foreign Nationals Loans (no social security or residency required)
We also offer:
- Conventional Conforming Loans (under $510,400)
- High Balance Conforming (from $510,400-$765,600)
- Jumbo Loan Financing to $10 Million / Super low rates! / 10% down Jumbo to $3mm
- FHA, USDA
- Reverse mortgages up to $1 Million Value
- Cash Out Refinancing
**Rates and terms subject to change without notice
We offer EVERY Loan in the book!
Please do not hesitate to CALL ON ME for any scenarios.
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