No VA Loan Limits in 2020
This recovered 2020 archive guide explains how the removal of VA county loan limits affected eligible Orange County home buyers, along with the budgeting and preapproval considerations discussed at the time.
Category: Costs, Fees & Loan Limits
Funding fees, closing costs, escrows, payment estimates, and clearly dated loan-limit guidance.
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Each guide has one primary topic, making related articles easier to find without hiding their original publication dates.
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How the Blue Water Navy Veterans Act of 2019 Affects California VA Loans
The Blue Water Navy Veterans Act of 2019 brought about significant changes to the VA loan program that Orange County, CA Veterans should be aware of. The two biggest changes are the elimination of the 100% financing loan limit and the increase in VA Funding Fees. Was there ever a VA Loan Limit in California? […]
VA Loan Limits for Orange County, CA to be Eliminated in 2020
VA loan limits for Orange County, CA will be eliminated as of January 1, 2020. This is a big change from what has historically been a limit on Veterans’ ability to purchase a home in Orange County with no down payment. With VA loan limits in California eliminated, usage of the VA loan program should […]
Orange County VA Loan Limit for 2019 is $726,525
The VA loan limit in Orange County for 2019 increased once again to $726,525. In 2018 the limit had been $679,650. This $46,875 increase gives Veterans more reason to seriously consider the VA loan program even if they have a down payment. Home prices in Orange County are higher than in most parts of the […]
Who is Exempt from the VA Funding Fee?
The VA Funding Fee is unique to the VA mortgage program. The funds from this fee go directly to the VA to help cover any losses from loans that default. The VA funding fee is an amount equal to a certain percentage of the loan amount which is based on a variety of factors. […]
VA Loan Limits Increase in Orange County, CA for 2018
VA loan limits for 100% financing in Orange County, CA will be higher in 2018, jumping from the 2017 limit of $636,150 up to a new limit of $679,650. This is a fairly significant increase that will help Orange County Veterans buy or refinance homes in Orange County, where homes prices increased in 2017 and […]
2017 Orange County VA Loan Limit Increase
VA has announced the increase of the 2017 VA loan limits. What is the “VA loan limit“? The Veterans Administration (VA) sets a limit of what a qualified Veteran buyer, with full entitlement, can borrow within each county without making a down payment. They calculate this limit based on the average price a home is selling for in that […]
VA Loan Calculators | are they accurate for California Veterans?
Are VA loan calculators found on websites accurate? While a mortgage calculator can help in getting a quick idea of what a payment would be, in most cases they will not be accurate enough for what will be one of the biggest purchases you will make in your lifetime. PITI – Principal, Interest, Taxes, Insurance […]
Is An Earnest Money Deposit Needed for VA Financing?
Is an Earnest Money Deposit needed with VA Financing? This is a question that comes up quite a bit with Veterans using VA financing to purchase a home in Orange County, CA. Since no down payment is needed for a home purchase up to a price of $625,500, some would wonder why a deposit is […]
2015 VA Loan Limits for Orange County, CA to be $625,500
The VA loan limit in Orange County, CA for 2015 will be $625,500. This is actually a decrease from the 2014 limit of $687,500, but is still a higher loan limit than most parts of the country. It is important to understand that this “loan limit” is for 100% financing. This means it is possible […]