VA Mortgage Loan Limits In California

VA mortgage loan limits have changed for California in 2012. Below are the new VA loan limits for major California cities:

San Diego: $477,000
Los Angeles:$621,000
Orange County: $625,000
San Francisco: $625,500
San Jose: $625,500
East Bay (Contra Costa County, Alameda County): $625,500
Napa: $460,000
San Luis Obispo: $457,700
San Mateo:$625,500
Santa Barbara:$598,000
Santa Cruz: $610, 650
Sonoma:$419,750
Ventura: $518,650
Fresno:$417,000
Bakersfield:$417,000
Riverside:$417,000
Sacramento: $417,000
Redding: $417,000

The above VA loan limits are just for 100% financing. You CAN go over the above VA loan limits in California with a small down payment. You just need to put down 25% of the difference between the purchase price and loan limit of your area. For example, if you want to buy a $800,000 house in Orange County where the VA loan limit is $621,000, you would take ($800,000-$625,000)=$179,000. Then take $179,000X.25=$44,750. You would need a $44,750 down to buy a $800,000 house in Orange County with a VA loan.

VA loans can be far superior to other jumbo sized loans because you would not need as much down and you have no monthly mortgage insurance.

If you have any questions about VA home loan s in California don’t hesitate to give us a call at 858-922-7899 or homeloan8@gmail.com.

Best Regards,

Rob Chomentowski

858-922-7899, homeloan8@gmail.com

Sr. Loan Officer (and VA specialist)