Best VA Loans Southern California

What is a VA Loan?

Guaranteed by the California Veterans Affairs (VA) and issued by the VA loans lenders, the VA loan is a sort of a mortgage loan that helps active service members, National guards, veterans, retired military officers and their eligible extant spouses to become homeowners. The VA Mortgage loans rates are curtailed as compared to other traditional loan plans. To facilitate affordable home ownership and to refinance an extant mortgage, are the two reasons VA loans are more prominent in Southern California. These loans are provided by the private VA loan lenders and summit lender is one of the best VA loan lenders in California.VA Mortgage loan in California allows you to buy a home in California at a competitive interest rate without any monthly mortgage insurance premium or any down payment. VA loan lenders follow to the highest standard of financial process and we work extra hard to assure a broad experience for various military officers. We are devoted to give you the finest lending services during your mortgage practice and help you buy a home of your dreams in Southern California.

Eligibility for VA Loan

The eligibility for a VA home loan depends on the length of the service commitment and the duty status of the military officials. Veterans with active duty services during World War II and later periods must have at least 90 days of service and Veterans with service only during peacetime periods must have had more than 180 days of active service, in order to be eligible for VA loan benefits.

Each VA loan lender in Southern California has different qualifying guidelines, therefore you need to contact your VA loan lender in order to find out if you meet their qualifying criteria such as your DTI (Debt to Income) ratios and credit score. If you are qualified for the mortgage, your VA loan lender will help you attain your certificate of eligibility on your behalf. 

The government generally does not give direct loans to veterans even though the VA loan in California is a federal program. Instead, the private VA loan lenders in California finance the loan while guarantee is given by the Department of California Veterans Affairs (VA).  

Benefits of VA Loan 

  • VA loans in Southern California is easier to qualify as compared to other traditional loan plans because the loan is backed by the  government itself and it assures less risk and have less stringent qualification standards.
  • A VA loan does not require you to buy any Private Mortgage insurance as the program allows for 100 percent of the mortgage to be financed. Mortgage insurance can add 5-10 percent of the total cost of your payment, as VA loans does not require mortgage insurance you can save hundreds per month on your mortgage/loan payment.
  • Though conventional loan plans require down payments up to 20 percent to secure a home loan which can be difficult for some people, therefore VA loans are the best option as there are no down payments required for it.
  • VA loans lenders get a great degree of safety and flexibility as the VA loans in Southern California are backed by the government, which typically means that VA loans have a more competitive interest rate as compared to other emblematic loan plans.
Eric Gausepohl and Matt Gausepohl
NMLS# 371291 | NMLS# 328382

Huntington Beach Location
2130 Main Street Suite 110
Huntington Beach, California 92648

Temecula Location
28581 Old Town Front Street, Ste 108
Temecula, CA 92590

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