San Diego VA Loans

While housing prices in San Diego have risen dramatically in recent years, making it hard for regular citizens to buy homes in the area, it is still affordable for qualified veterans when done with a VA Loan. The VA Home Loan Guaranty Program has been helping its military members and veterans afford homes in San Diego for years, and right now the program is even more affordable than ever.

What is a VA Loan?

A VA Loan is actually a guaranty on a private loan, not the actual loan itself. The guaranty is an amount of money the VA is willing to pay the lender if you should ever default on the loan and your house goes into foreclosure. It’s essentially an insurance plan that makes you very secure borrower – one that will then be able to take advantage of huge benefits like not having to supply a down payment on the house and not having to pay private mortgage insurance.

How much can I borrow?

How much you can borrow for a new house depends on the county you reside in. The loan limit for San Diego has increased in recent years, making it possible to buy big properties without a down payment. However, if you should find a house that is above the county loan limit, it is still possible to obtain a VA Loan but you may have to supply a down payment on the unsecured portion of the loan.

How do I qualify?

In order to qualify for a VA Loan in San Diego you must have served at least 181 days of regular active-duty service and been honorably discharged if you are no longer in the military. You or your lender will need to fill out an eligibility form with the VA. If your application is approved you will be issued a Certificate of Eligibility.

Where do I get started?

If you want to take advantage of the great benefits of a VA Loan, fill out our 1 minute VA Loan form

1 minute VA Loan form
to get pre-approved. Approval is quick, secure and easy. If you have any questions we will have one of our VA home specialists contact you and help you in anyway we can. Pre-approval has never been so easy!

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