The 2014 San Diego County VA Loan Limits were announced recently.
They actually increased $46,500 up to $546,250 for 100% financing.
Compare this to FHA’s San Diego County Loan Limit for 2014 which decreased $151,250 t0 $546,250.
As a San Diego Mortgage Broker I have access to VA Home Loans that go up to $1.5 million with a smaller down payment than most San Diego Jumbo loans require.
If you are a veteran and have any questions concerning VA Loans in San Diego or would like to know what San Diego Mortgage Rate you would qualify for, please feel free to give me a call at 619-312-0612 or request a rate quote HERE.
San Diego VA Loans – 100% Financing
VA loans are still one of the only options for 100% financing, other than USDA loans. VA loans have an up-front funding fee, but don’t have mortgage insurance like FHA loans.
The funding fee is a percentage of the loan amount and can be added to the loan. If you are a disabled vet, you may not have to pay the funding fee.
San Diego VA Loan Eligibility
Active duty personnel in the United States military or Veterans are eligible for VA loans.
The spouse of an eligible veteran can also qualify for a VA loan in San Diego.
The veteran must have a Certificate of Eligibility in order to receive a San Diego VA Loan.
The Certificate of Eligibility notifies the lender how many times (if any) the veteran has used their eligibility and up to what amount the VA will insure the loan.
San Diego Mortgage Rates for VA Loans
Mortgage rates are still great for San Diego VA Loans.
They are currently about a half percent lower than conventional loans. If you can qualify for a VA loan, it may be your best option.