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A VA loan is one of the only ways to finance 100% of a home in California. There is typically no down payment required. In the current market, conventional lenders are asking for a minimum of 5% and that has mortgage insurance.
100% Loan to Value - Zero Down Payment
Finance up to 100% of the purchase price
Reduced income and credit requirements
Higher debt-to-income ratios
Adjustable rate mortgages
15 and 30 year fixed rate mortgages
Mortgage amounts up to $417,000
No cash reserves required
Non-occupying relative can co-sign the mortgage
Build equity faster with out private mortgage insurance
Closing costs may be covered with a slightly higher interest rate
Save yourself a great deal of money by getting an excellent VA loan rate, with no monthly mortgage insurance. Plus, it is easier to qualify for a VA loan as compared to a FNMA/FHLMC or FHA mortgage. The California VA loan offers extra benefits for disabled veterans, so if you have been disabled in service, a VA loan can save you even more money. valoan@yahoo.com
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