Many VA borrowers across the state of California may owe some excess state or federal taxes from previous years that show up on their VA credit report as an existing tax lien. The good news is VA home loan requirements allow borrowers to be
approved for a VA loan even if they have an existing tax lien that shows up on their credit report.
Below are the VA loan requirements to be approved for a VA loan with an existing tax lien:
- You must be in a payment plan with the IRS or state to pay you tax lien off
- The last 12 months of payments on the tax lien must have been on time
- You will have to document you are making payments
- The monthly payments for the tax lien will have to be included in qualification for the VA home loan
So if you have a tax lien and you want to apply for a VA home loan in California, make sure you pay off the tax lien or get into a payment plan for the tax lien if you are not already in one. I hope this helps you’re your planning for getting a VA home loan to buy or refinance in California. Give us a call at 858-922-7899 or email at [email protected] if you have any about questions about getting approved for a VA loan in California.
Below are some top benefits to VA home loans in California:
- VA loan interest rates are currently at close to all time lows
- VA home loans are 100% financing and require no down payment
- VA loan limits in the state go above $700,000 with zero down in Los Angeles, San Jose, San Francisco, Orange County and to $546,750 in San Diego
Sr. Loan Officer (and VA specialist)