GENERAL VA LOAN FACTS
If you can’t find the answer to a question you have, please don’t hesitate to call or email us.
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.
Property Types
They’re for primary residences only
They’re available despite foreclosure or bankruptcy
High Debt to Income (DTI) allowed
No mandated seller closing costs
No reserves required
Required Repairs
Does not count 401K loans in debt ratios
100% gift allowed for down payment, closing costs
No private mortgage insurance (PMI)

Michael Ervin | Production Manager | NMLS #282715 | 235 Rockaway Beach Avenue, Suite 4 Pacifica, CA 94044 | Branch NMLS #1479590
Jennifer Castañeda | Producing Branch Manager |NMLS #282904 | 235 Rockaway Beach Avenue, Suite 4 Pacifica, CA 94044 | Branch NMLS #1479590
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