General VA Loan Facts
General VA Facts
You can purchase a home with zero down payment.
Most Bay Area Counties have a loan limit of $679,650. You can borrow up to this amount with a zero down payment! Anything over this amount will require a small down payment. For example: If you buy a $1 MM home your down payment is 25% of the difference between the purchase price and the county limit.
$1,000,000 – $679,650 = $320,350 x 25% = $80,087.50
For a million dollar home, you only have to put about an 8% down payment! For a full list of California loan limits, click here.
VA Loans may be assumable.
They’re for primary residences only
They’re available despite foreclosure or bankruptcy
High Debt to Income (DTI) allowed
DTI up to 60% with compensating factors.