Today's California VA Mortgage Loan Rates

VA Mortgage Loans in California

California VA loan is a type of a mortgage loan that is backed by the VA (Department of Veteran Affairs) and meant for people, who served or are currently serving in U.S. military forces. Although the VA is not lending any money for VA loans in California, it is still backing up loans that are made by private lenders – mortgage companies, savings and loans, banks. VA loans are aimed at military personnel, veterans and military spouses.

There are three types of VA mortgage loans available – purchase loans, interest rate reduction refinance loans, also known as the IRRRL, VA streamline refinance loan and cash-out refinance loans. There are plenty of advantages to VA loans, yet one of the most notable ones is the fact that no down payment is required in order to buy a home. This is the best way for military personnel and veterans to purchase real estate property indeed.

People Eligible for VA Loans in California

VA loans are meant for the military personnel, military families as well as veterans. Following categories of people are eligible for VA loans:

  • Veterans
  • Active-duty personnel
  • Members of reserve
  • Members of National Guard
  • Surviving spouses

It is also important to have a good credit, adequate income as well as valid COE (Certificate of Eligibility). One will also have to use purchased house for personal occupancy. Not certain whether you are eligible? Go to the website of the Department of Veterans Affairs in order to learn more about the eligibility requirements for the military spouses, veterans and military personnel.

Main Advantages of VA Mortgage

The California VA mortgage program is delivering the most beneficial as well as genuinely flexible loans on the market, which are aimed exclusively at veterans, military personnel and their family members. Biggest advantages of VA loans are the affordability comparing to other options and absence of necessity for a down payment and private mortgage insurance requirement.

How Big a VA Loan Can Be?

The VA states that there is no limit to what an eligible veteran could borrow using California VA loans. However, there are certain county limitations that could be used in order to calculate the maximum guaranty amount for any certain county. Generally speaking, there are no limitations to how much you can spend for a new house using the VA loan in California, but the VA loan has limits of how much liability to assume, which can affect the amount of money a lender will provide you with.

In most cases, military personnel as well as the veterans can count on getting up to $417 000 without any down payment.

Finding the right VA lender

There is a number of ways of finding a VA lender for military personnel or veterans, including recommendations from friends and loved ones as well as visiting the VA webpage. Much like the usual loans, you can also try and talk to different lenders to find the best one. LBC Mortgage could be a great help in finding the best VA loan in California.

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Client Reviews

LBC Team went above and beyond to help us buy our new home! They were available for all of our questions, were prompt in their replies to us, and guided us...
Julia T.
Julia T.
08:40 22 Aug 21
Excellent team of great professionals! Superb customer service! They have successfully handled our purchase and refinance in a very short period of time,...
Elina L.
Elina L.
11:12 30 Jun 21
It is hard to describe how scary we were when decided to buy a house. We had no knowledge of the processing, prices, policies, calculations… When our agent referred us to Alex Shekhtam, from the first phone consultation we felt to be just in right hands. We are so blessed to have LBC Mortgage team! Our first house was purchased just because of these hardworking, reliable, efficient, responsive professionals! Recently we were able to refinance our house on good conditions, again, just because of them! Easy processing paperwork, knowledgeable advisors, pleasant communication make you feel special. We are so grateful to all and everyone from LBC Mortgage for making our dreams true!!!!
Lora Kochetkova
Lora Kochetkova
03:44 29 Jun 21
LBC Team is now our Number One Team! Their service was impeccable! We really appreciated the detailed explanations and daily reminders throughout the whole...
Galina S.
Galina S.
13:34 29 Mar 21
We were able to close on our first home even with a strict budget, and I credit it all to Alex and the staff at LBC Mortgage. We couldn’t have done it without you. Thank you so much!
Roger Billon
Roger Billon
06:07 25 Mar 21
Alex and his team were very attentive to our needs. We had some very specific criteria when looking for a home, and most mortgage companies, especially banks, were not even willing to listen to us -- but the team at LBC Mortgage was. They kept everything moving and were happy to answer our questions. We never felt like a burden to them, and that’s how customer service should be.
Kaylani paliotta
Kaylani paliotta
05:51 25 Mar 21
This was one of the last steps I needed to do in order to close on a home, and I had been putting it off because I had assumed it was a complicated and cumbersome process. I could not have been more wrong. Alex and everyone at LBC Mortgage made the process really simple and straightforward. Excellent company with people that really care about you.
Charles W
Charles W
06:52 23 Mar 21
If you are shopping online for mortgage or refinance, look no further. Seamless process and good communication. I am pleased with their fast response. They kept me updated with each phase of a process. Thank you LBC Mortgage.
Christiane BABINOT
Christiane BABINOT
07:40 03 Mar 21
People often ask me who I use for my own mortgages and refinances. Every time I recommend LBC Mortgage. They’re always working hard to stay one step ahead of the competition. To me, they’re more like family than my mortgage company. I’ve just closed my third deal with them and I can’t wait to see what the future holds.
Ahndray Hamilton
Ahndray Hamilton
09:06 18 Feb 21

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