VA Home Loan Limit Increased For San Diego

If you are serving or have served in the United States Armed Forces and want to live in San Diego, you may want to consider VA loans as a means to purchasing a home.

Recent changes have been made to the VA home loan program, all of which benefit you, the buyer.

In an effort to boost economic recovery, the Department of Veterans Affairs adjusted the maximum $0 down loan limit to allow home purchasers to borrow more money than what was previously guaranteed. The loan limit for San Diego has been increased to an all time high. This means more buyers can borrow more money to purchase property. The San Diego $0 down loan limit was increased to $537,500 and still allows home buyers a $0 buyer paid closing costs option.

Over the past few years VA home loan centers has seen an increase in the requests for higher loan limits. The increase has opened many options for people who want to use a VA loan to purchase their home. Because the borrowers no longer need to have money for closing costs or a down payment, they can get a home with little in the bank.

Which San Diegan citizens are encouraged to borrow through the VA home loan program? Active duty and veterans who live in the San Diego area. Borrowers can seize the current opportunity of low home prices, low interest rates and increased purchasing power that VA home loan centers offers. Not only this, but with low to no money down they can afford and finance the home of their dreams. VA home loans offer the buyer the choice of having the seller pay for all closing costs incurred through the transaction. This allows the buyer to not have to have any money for closing costs.

The appraisal fee of $475 (maximum) will also have to be paid. In addition to this, the buyer will have to pay for a home inspection. The home inspection will reveal the condition the home is in. The fee for the home inspection is usually no more than $450 depending on how many stories and the overall size of the home.

EMD (also called earnest money deposit) will need to be given by the buyer to escrow. In San Diego, most sellers ask for an EMD of 1% although some will accept less.

There is an option however, that allows you to have a refund of the appraisal, home inspection, and earnest money deposit at the closing of the escrow. This is only possible however, if the seller agrees to pay for all of the buyers closing costs. The standard buyers closing costs are first mortgage payment, property and transfer taxes, insurance, etc.

Originating your loan through San Diego VA home loan centers has many inherent benefits. Among these is the opportunity for you to choose your lender and compare interest rates. Higher loan limits translates to increased buyer purchasing power.

To apply for a VA loan, contact VA home loan centers. They will find you the lowest rate available and get you the home of your dreams without having to spend a lot of money.


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If you are a Veteran, active duty military personnel, or reservist, you may apply for a $0 down VA home loan. To apply for a San Diego VA loan, visit or call VA HLC. Author: Philip Georgiades, San Diego VA HLC