VA Loans in California

At Griffin Funding, we are dedicated to helping veterans throughout California achieve their goal of homeownership, including those in the following areas:

California is the perfect place to make your American dream come true. To secure your California VA loan, complete an application online or call us at (855) 394-8288 to start the process.

VA loans in California are guaranteed by the Department of Veterans Affairs and are designed to provide financial assistance to eligible military veterans and active-duty service members. One distinctive feature of these loans is the potential for eligible borrowers to secure home financing with no down payment. This can significantly ease the financial burden of buying a home.

VA loans also typically come with competitive interest rates, making homeownership more affordable and accessible for veterans. Additionally, unlike many other loan types, VA loans don’t require private mortgage insurance (PMI), contributing to lower monthly payments.

The VA also limits the closing costs veterans can be charged, reducing the upfront expenses associated with home purchases.

One thing to keep in mind as you consider taking out a VA loan in California is VA loan entitlement. Entitlement indicates the maximum loan amount the VA will guarantee. In California, where home prices can be high, the loan limits are adjusted to reflect local real estate markets.

Use our VA loan calculator to quickly and easily estimate what your monthly mortgage payment would be with a VA loan in California.

California VA home loans work similarly to those in other states in that you will need to meet the VA’s requirements as well as your lender’s qualifications. There are several steps involved in the process:

• Acquire a Certificate of Eligibility (COE) from the VA 
• Submit your application for VA loan pre-approval with Griffin Funding and your loan officer will review your eligibility 
• You will be provided with a quote and given the option to lock in your interest rate
• Additional information may be requested to verify your information and submit to underwriting
• A pest inspection and VA appraisal will need to be scheduled 
• Review your final loan documents and finalize the details

If you have applied for a VA purchase loan, you will typically receive your loan approval on the same day. You can then move forward with purchasing the property. 

Download the Griffin Gold app today to review your finances and find the perfect loan based on your unique circumstances.

There are many benefits of securing a VA loan in California instead of a conventional loan, including:

• No down payment 
• No private mortgage insurance (PMI) 
• More flexible qualification requirements (such as 0% funding fees for VA disabilities or service-related injuries, FICO scores lower than 620 accepted, and less time for seasoning on recent credit events) 

When considering VA lenders in California, Griffin Funding should be at the top of your list. To help make the mortgage process as easy as possible for aspiring homeowners, we provide 5-star customer service when processing every California VA home loan. 

When it comes to understanding California VA loan limits, it is important to clarify that the VA does not limit how much you can borrow from a lender, but rather the loan amount you can qualify for without a down payment.

VA loan limits in California differ for veterans and active duty military members who still have their full loan entitlement and those who have previously used part of their entitlement without restoring it yet: 

• As of January 1, 2020, there are no longer loan limits for those with full VA loan entitlement. That means VA loans in Coronado or San Diego and VA loans in rural America come with no limit as long as you have your full entitlement.
• If you have used part of your entitlement to purchase your current home and haven’t restored it yet, you will be subject to the 2024 loan limits required by the Federal Housing Finance Agency. 
  • In order to restore your full entitlement, you either need to sell the property or repay your current loan in full.
• If you have defaulted on a VA loan previously, you will also be held to the current VA loan limit in California. 

If you will be subject to loan limits based on these criteria, you will need to find the California VA loan limit that applies to the county the property is located in. VA loan limits in California, as well as other states, are based on where you are purchasing a home. 

Here are the following types of VA loans (which affect interest rate and guidelines):

• VA Low Balance Loans: $0 – $766,550
• VA High Balance Loans: $766,551 – County Loan Limit
• VA Jumbo Loans: Any loan amount that is above your county loan limit

When exploring your options for VA home loans, you will likely also come across the CalVet home loan programs. Similar to loans provided through the VA, CalVet is available to veterans and active service members. However, the CalVet programs are available through the state of California, not throughout the rest of the country.

With a CalVet loan, the state of California will serve as the lender and the CalVet program will hold the legal title to your property. There are also greater limitations on loan limits and typically higher interest rates than a VA home loan. While a VA loan in California adheres to limits based on counties (if the limit is applicable to your circumstances), the CalVet program has a standard loan limit, no matter what county your property is located in. 

Our California VA loan programs are designed to provide veterans and service members with the best possible home-buying circumstances. If you would like more info on Griffin VA loans, please do not hesitate to speak with a loan officer today. 

When dealing with California VA home loans, not all lenders are created equal. When it comes to your mortgage, you want a team that’s highly experienced in VA loans, offers competitive interest rates, and is going to be able to complete the process as quickly as possible. Griffin Funding checks all of those boxes.

Our loan officers have helped many service members qualify for a California VA loan and can complete the entire process within 30 days or less. This is possible because we utilize streamlined processes and prioritize customer service.

Griffin Funding is proud to support military families and their homeownership goals. If you are ready to move forward with purchasing, building, or improving your California home or want to refinance your current VA loan, our knowledgeable loan officers are happy to assist you. 

To complete an application, submit a request online or call us today at (855) 394-8288.

What is the minimum credit score needed to qualify for a VA loan in California?

While the VA doesn’t set a specific minimum credit score requirement for VA loans, lenders typically have their own criteria. Many VA-approved lenders look for a credit score of 620 or higher. However, Griffin Funding’s minimum credit score for VA loans is 550, and there are some cases where we may accept a lower score. 

How much is the VA funding fee in California?

The VA funding fee is a one-time fee that helps offset the costs of the VA loan program. The amount varies based on factors such as the type of VA loan you’re taking out, the down payment amount, and whether it’s the borrower’s first VA loan. The VA funding fee generally ranges from 1.25% to 3.3% of the loan amount. Veterans with service-connected disabilities may be exempt from the funding fee. 

Is it hard to get a VA loan in CA?

Generally, VA loans are designed to be more accessible for eligible veterans compared to many other loan types. The lack of a down payment requirement, competitive interest rates, and flexible credit standards contribute to making VA loans a viable option for many veterans. 

However, like any mortgage, approval depends on individual circumstances, including credit history, income, and debt-to-income ratio. Working with a VA-approved lender and obtaining your COE are crucial steps in the process.