Get the Best VA Loans in San Diego
One of the best benefits the VA offers members of the military, veterans, and their spouses are allowing them to become homeowners. VA mortgages are offered by private lenders, but the VA guarantees part of the loan. This allows the best mortgage lenders to offer more favorable credit terms.
If you are in the military and are looking for mortgage and refinance options, you must pay attention to VA mortgages. That is why you should know everything about this alternative so that you know why it is the ideal option for you.
Top-6 FAQs About VA Loans
The VA backing of these mortgages allows for a variety of benefits that no other type of home loan offers. These include 0% downpayment, no monthly mortgage insurance premiums. Also, the buyer’s closing costs are capped, and an appraisal tells you the true value of the property. If the home is new, the VA ensures that inspections have been completed on time, and requires a one-year warranty from the builder.
Veterans and honorably discharged may apply for VA loans. Spouses are also eligible for financing if they meet the requirements. You are not eligible solely based upon Active Duty for Training in the Reserves or National Guard. In the case of National Guard and Reservists, they are eligible if under the authority of Title 10 or 32 U.S. Code they were “activated,” and have at least 30 days of continuous service.
No. You must look for a top California mortgage agency that is approved by the VA to qualify for this type of financing. Top mortgage agencies like Dimitrije Isakovic Mortgage Group will not only offer you the federal options, but also the CalHFA (California Housing Finance Agency) state programs, such as the CalHFA VA loan.
No parameter establishes a maximum amount for a VA loan. The amount a lender can give you to buy a home will depend largely on your monthly income. The lenders will evaluate your case by considering the amount requested, your assets, liabilities, and monthly expenses.
Yes, however, some clauses can make things difficult. One alternative is to use your Certificate of Eligibility to negotiate a private construction loan. Then, you refinance the completed home using your VA mortgage.
It depends. The law requires you to demonstrate and certify that you intend to occupy the home you are purchasing with the VA loan. However, spousal occupancy of the home satisfies the requirement.
Explore the Finest VA Loans with the US
If you’re looking for the best VA Loans in San Diego, you’ve come to the right place. Dimitrije Isakovic Mortgage Group is California’s leading VA loan specialist. We are ready to offer you the best California mortgage and refinance rates, so you can buy the home you want and deserve. Contact us and schedule an appointment for a personal consultation.