VA mortgages are an excellent way for San Diego's active-duty military and veterans to purchase a home. While zero-down loan options are available, up to $477,000 in San Diego County, the Veterans Adminsitartion will guaranty home loans up to $1,000,000 (down payment required for loan amounts over $477,000).
Really...no kidding. Like this:
Bob is a Commander in the Navy, stationed at Coronado NAS. He wanted to purchase a $900,000 beach front condominium with as little down as possible. His base pay, BAS, and BAH earn him about $10.500/month. His mortgage payment (including taxes and insurance and HOA fee) was just under $5,500. Bob had three problems which I solved for him:
Downpayment: Bob only had to bring in about 10% down ($105,000) His debt-to-income ratio was too high for conventional loans (but not for VA, which underwrites using )residual income The condominium complex was not approved by the VA (I am an expert at getting condo complexes approved)
CDR Bob selected me to help him and he bought that condo, with less than 20% down payment, no private mortgage insurance, at a competitive interest rate, using his VA home loan benefit...and I was able to secure a VA complex approval for him. It took about 45 days but CDR Bob, his REALTOR, and the seller were thrilled I could use my 16 years of experience to secure Bob that loan.
VA home loans are not the ONLY type of loans I fund but, as San Diego is a military town, I choose to be the best at what I do. I focus all my efforts to understanding the changes and improvments the Veterans Administration makes to the home loan program.
Call me at (858)-777-9751 to schedule a consultation. I have tons of references to give you, from E-4 all the way up to 0-7.
San Diego's VA mortgage expert