How To Get A San Diego VA Home Loan.

If you are looking into buying a home in San Diego, you may want to see if you are eligible for a VA home loan. VA home loans are guaranteed by the US government and require no down-payment (up to $1,094,625.00). Most buyers who use a VA home loan will find that the seller is willing to pay all or part of the buyers closing costs when originated properly. In addition to the benefit of no money down, a VA home loan does not require mortgage insurance, has no credit score requirement, and can be financed via a number of private investors.

In order to qualify for a VA home loan, you should request a Certificate of Eligibility from VA Home Loan Centers. To obtain VA loan eligibility, you must complete (or have VA Home Loan Centers complete on your behalf) the VA form 26-1880 and submit to the National Archives. Or if you apply for VA loan, VA Home Loan Centers can get a certification on behalf of the service-person through the WEB LGY Network operated by the United States Department of Veterans Affairs. This is the most difficult part of the VA loan approval process. Once you have the Certificate of Eligibility, you can proceed to signing a contract of purchase subject to approval of the VA loan.

Why should you apply for a VA home loan? There are many advantages that VA home loans have over regular mortgages. For example, a VA loan has no down payment requirement (depending on terms), and lower interest rates. When you apply for VA loan, mortgage insurance is not required, which can substantially lower your monthly payments as compared to an FHA home loan. As mentioned earlier, a San Diego VA mortgage has higher loan limits than the typical loan. A San Diego VA loan offers built-in protections to borrowers such as a one-year guarantee that the property meets VA plans and specifications for habitability. And when you have a successful VA home loan application, your closing costs are competitive with other financing types and may even be lower. In most transactions, the seller will pay all or part of the closing costs for you.

You are also offered a variety of payment options for your VA home loans, including a 30-year fixed rate VA loan in which the payments remain constant over the life of the loan, a graduated payment VA home loan with low initial payments that gradually increase over the term of the loan and a growing equity mortgage in which the increased payments go towards repayment of the principle so that the loan is repaid earlier. California veterans and servicemen who have less than perfect credit scores are encouraged to apply. The VA loan has no credit score requirement. A San Diego VA loan also offers additional benefits for disabled veterans who submit a VA home loan application.


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Philip D Georgiades is the Chief Loan Originator for VA Home Loan Centers.

For more information about VA home loans, including to VA home loan
approval or assistance obtaining a Certificate of Eligibility, visit=>

San Diego VA Home Loan Centers