The VA Home Loan benefit is a great opportunity for San Diego Veterans and Active Duty Military to refinance a San Diego home or San Diego condo. We thought it would be a good idea to quickly review the benefits of VA Loans, and a few ways to use them to your benefit. VA Loans require zero down payment up to $649,750 in San Diego, and throughout San Diego County for the purchase of a home. Our VA Jumbo Loans also allow you to refinance your home up to $1.5M with appropriate equity.
- VA Refinance Loans – available up to 100% of your homes value (100% even on VA cash out refinance)
- VA Jumbo Refinance Loans – also available up to 100% of your homes value with corresponding amount of home equity. these are also know as VA High Balance loans. (no limit on cash out)
- VA IRRRL Streamline Refinance Loans – Refinance into a lower rate with reduced documentation requirements, up to $1.5M in San Diego.
However, Veterans are not limited to the San Diego Loan limit of $649,750 for VA Loans. We offer VA Jumbo Loans up to $1.5 Million with the appropriate down payment or equity to reach the VA Guarantee requirements of 25% of the loan amount. Here is one of our posts on how you can get a Van Dyk Mortgage VA Loan over your county limit.Here are a few ways to use your VA home loan Benefit in San Diego to refinance a home:
- VA Loan to Refinance a single family home with up to $453K loan amount with no PMI
- VA Jumbo Loan to Refinance a home up to a $649,750 loan amount no MI required.
- VA Loan to refinance a Condo in San Diego – up to $453,100 loan amount no MI required.
- VA Jumbo Loan to refinance your San Diego Condo up to $649,750 loan amount with no MI required.
- VA Jumbo Loan to Refinance a $750,000 home in San Diego with a loan amount up to $724K with no MI
- VA Jumbo Loan to Refinance a $850K home in San Diego with a loan amount up to $799K with no MI
- VA Jumbo Loan to Refinance a $1.5m home in San Diego with a loan amount up to $1.287m with no MI
- Refinance your current VA Loan or VA Jumbo Loan using the VA IRRRL Streamline Refinance – Market rates are the lowest on record – Call for today’s rates, they will surprise you.
- Our VA Jumbo IRRRL or VA Jumbo Streamline Refinances can exceed the county limit
- Use a VA refinance to refinance out of an Adjustable Rate Mortgage – Up to 100% loan to value – with zero Mortgage Insurance required.
- Use a VA refinance to consolidate your first and second mortgage with no extra charge to interest. This consolidation is considered Cash Out for Conforming Loans and has additional restrictions, VA Allows this up to 100% LTV.
- Use the VA Jumbo Loan to take advantage of the lowest 30 year fixed rates on Record (call for actual rates, they will shock you). Available up to $1.5M in Los Angeles with a suitable combination of Equity and guarantee. Check out some actual VA Jumbo Loan Refinance scenario‘s here.
- VanDyk Mortgage offers VA Jumbo Streamline refinances above your current county limits
VA Home Loan info for San Diego, California:
- Active Duty Military and Veterans can both qualify
- 100% financing up to $649,750
- $750k San Diego Home Purchase would only require $25,063 down payment ( 3.342%)
- $900k San Diego Home Purchase would only require $62,563 down payment (6.951%)
- A Loans require no Mortgage Insurance
- VA Loans do require a VAFF (VA Funding Fee), which is usually financed
- Veterans with a 10% or higher VA disability pay no VA Funding fee
- VA Loans are not just for first time homebuyers
- VA Jumbo Loans are offered at competitive rates that will surprise you, in a good way.
- Sellers can pay up to 4% of the VA Buyers closing costs
- VA Loans can be used to purchase VA Approved Condominiums with zero down
VanDyk is your source for VA backed Condo loans. We also do not have a waiting period for “flips”. This is often called the Flip Rule or VA Flip Rule. VanDyk does not require the seller of a property to wait 90 days before allowing a VA buyer to purchase the property, only 1 day. VanDyk Mortgage is a Proud VA Direct Lender. VanDyk Mortgage has been making FHA & VA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at http://www.vandykfunding.com/ or call Brian Skaar direct at 760-752-4480 for help with your VA or FHA loan. We serve the entire states of California and Washington for VA Loans, including Los Angeles, San Francisco, Pasadena, Long Beach, San Jose, San Diego, Huntington Beach, Anaheim, Orange, Santa Ana, Oakland, Fresno, Bakersfield, Riverside, Lancaster, Sacramento, Seattle, Tacoma, Spokane, and everything in between. Here is a link to part one of our series: Using your VA loan benefit to purchase a home in San Diego San Diego, VA, VA Jumbo, VA Loan, VA Jumbo Loan, VA Jumbo Lender, VA lender, CA, CAlifornia, IRRRL, Jumbo IRRRL, Jumbo streamline
>>> Get started here on your VA Loan PreApproval or give us a call at 866-900-2342 (toll free direct)