VA Lending In California – $8,000 Tax Credit Still Available To Certain Borrowers

If you are looking to buy a home in California you may still be able to collect the $8,000 federal tax credit.   If you were deployed out of your living area for a period of 90 days from 4/31/2009 to 4/31/2010, and you close on a home by 4/31/2011, you may very well be able to still collect the $8,000 tax credit.  This is ONLY available to military members.  And if you are active military or veteran, you can use your VA eligibility to get a VA loan with 100% financing with very low 30 year fixed rate mortgage.

So qualifying for this tax credit is something to look into if you are eligible.  Getting a check for $8,000 from the IRS after closing on a new house can be very helpful with post closing home furnishing, fixing up the house or keeping in the bank as reserves. 

So give us a call if you are interested in applying for a VA home loan.  Below are some of the very latest and up-to-date highlights of VA financing in California:

• VA loans are 10o% financing.  This is the only 100% financing loan available to buy anywhere you want in California.
• VA loan limits can be very generous across the state of California.  Alameda, Contra Costa, San Mateo and San Francisco Counties allow all the way up to $962,500 with 100% VA financing.  Los Angeles and Orange County allow up to $593,750 with a zero down VA home loan.  You can even go above these VA loan limits with a small % down.
• VA homeloans have NO monthly mortgage insurance.  This is the ONLY loan today with less than 20% down that has NO monthly mortgage insurance.
• If you receive any VA disability pay, the VA funding fee is waived.  This can amount to many thousands in savings.
• VA loan credit – your credit score only has to be 620 to get some of the best interest rates available.  VA loan bad credit – if you think you have bad credit we are specialists at assisting you with improving your credit to qualify

Warmest Regards,

Rob Chomentowski

Sr. Loan Officer (and VA specialist)

858-922-7899

homeloan8@gmail.com

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