Sacramento VA Loans

While housing prices in Sacramento have typically been higher than in other cities across the US, they are still quite affordable for veterans when purchased with a VA Loan. The VA has made buying new houses easy and affordable by extending great benefits to its veterans and current military personnel.

Conventional Loans vs. VA Loans

The first major difference between VA Loans and conventional loans is that with a VA Loan you are not required to provide a down payment on the house. Conventional loan typically require 20% for a down payment, which in Sacramento can add up very quickly. While it is possible to find conventional loans with no or low down payments, they usually make up for it by requiring the borrower to pay for private mortgage insurance (PMI). VA Loans, on the other hand, do not need any additional monthly insurance.

Additional Benefits

There are quite a few additional benefits that make VA Loans a better choice than conventional loans for purchasing new homes in Sacramento. For instance, because you are such a secure borrower, lenders will often give you an interest rate that is lower than the current mortgage market rate. The other benefits that make VA Loans easy and affordable include low closing costs, individual repayment plans, quick approval and streamlined refinancing.

How to Qualify

As a current member of the military, you can qualify for a Sacramento VA Loan after serving a minimum of 181 days of regular active-duty service. Ex-military personnel must have served this time and been discharged under honorable circumstances. You or your lender will need to submit an eligibility form with the VA who will review your application and then issue you a Certificate of Eligibility (COE) in the mail. After that, you are free to either get pre-approved for a loan or start shopping for your ideal house.

Getting Started Today

It’s a great idea to get pre-approved for a loan so you know just how much house you can afford in Sacramento. Feel free to fill out our secure online form. It’s 100% free, only takes a minute and has no strings attached. Let us help you get started today!

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