No down payment with full entitlement
Up to the county conforming limit you can finance the full purchase price. Above that limit a VA jumbo is still possible, with a down payment applied to the amount above the limit.
Ed Parcaut · Navy veteran · Mortgage strategist in Modesto, California · NMLS #235384
BUY A HOME IN CALIFORNIA
WITH YOUR VA BENEFIT.
A VA purchase loan lets an eligible veteran, service member or surviving spouse buy a primary home with no down payment required and no monthly mortgage insurance. In California the amount you can borrow with full entitlement follows the conforming loan limit for the county, and VA jumbo financing is available above that figure with a down payment on the portion over the limit.
Who it fits
A BENEFIT YOU EARNED.
USE IT PROPERLY.
Ed served in the U.S. Navy and has spent close to thirty years in mortgage lending. That combination matters here, because most of the confusion around VA purchases comes from people who have never used the benefit themselves.
No monthly mortgage insurance
VA loans carry no monthly mortgage insurance. Most borrowers pay a one time VA funding fee instead, which can often be financed, and veterans receiving service connected disability compensation are commonly exempt.
Primary residence, and you can use it again
The home has to be one you intend to live in. Entitlement is not a one time benefit either, so having used a VA loan before does not rule out using one now.
Condominiums and new builds
A condominium needs to be on the VA approved list, and new construction has its own sequence. Both are workable, and both are easier when they are raised early rather than mid escrow.
Program availability and requirements vary by lender and by your individual file. Nothing here is a commitment to lend.
What to gather
BRING THESE
TO THE TABLE.
You do not need all of this before we talk. It is what a VA purchase file usually asks for, so nothing surprises you once you are under contract.
- Certificate of Eligibility. If you do not have it, this can usually be pulled for you. Your DD214 or current statement of service supports it.
- Income documents for everyone on the loan. Pay stubs and W2s, or business returns if you are self employed. Retirement and disability award letters if those apply.
- Recent bank statements. Enough to show reserves and the source of any funds for closing costs.
- A rough idea of the property. Price range, county and whether it is a house, a condominium or new construction. Each answer changes the requirements.
Is there a VA loan limit in California?+
For a veteran with full entitlement there is no cap on what the VA will guarantee up to the county conforming loan limit, and that limit varies by county in California. Above the limit, VA jumbo financing is available with a down payment on the portion above it.
Do I need a down payment?+
Usually not, when you have full entitlement and the loan is at or under the county limit. Reduced entitlement, or a purchase price above the limit, can bring a down payment into it.
Can I use a VA loan more than once?+
Yes. Entitlement can be restored after a sale and paid off loan, and in some cases part of it can be used on a second VA loan while the first is still in place. Your exact position depends on your Certificate of Eligibility.
Do I pay mortgage insurance?+
No monthly mortgage insurance on a VA loan. Most borrowers pay a one time VA funding fee, which can often be financed into the loan. Veterans receiving service connected disability compensation are commonly exempt from it.
Can I buy a condominium with a VA loan?+
Yes, if the project is on the VA approved list. Checking that before you write an offer saves the most time.
Related reading
KEEP LOOKING.
VA streamline refinance
Lower your rate on an existing VA loan with less paperwork than a full refinance.
Read about IRRRLVA cash out refinance
Use equity from your home, or move a non VA loan onto a VA loan.
See how it worksVeterans and VA loans
The full hub, with California specifics and the questions veterans ask most.
Read the hubReviews on Google
WHAT CLIENTS SAY
ABOUT WORKING WITH ED.
5.081 Google reviewsRead them on Google
Working with Ed Parcaut on our vacation home purchase was an outstanding experience from start to finish. Ed's expertise and deep knowledge of the lending process made everything feel seamless. He took the time to explain every step clearly, answered all of our questions with patience, and helped us navigate the unique aspects of financing a second home with confidence. What truly stood out was Ed's responsiveness and efficiency. No matter the time or situation, we always received quick updates and fast answers, which made the entire process move smoothly and on schedule. His professionalism, attention to detail, and commitment to excellent service exceeded our expectations. I highly recommend Ed to anyone looking for a knowledgeable, reliable, and highly responsive lender — for any home purchase.
Ed made the process so easy and simple for my wife and I. When we had questions, he had answers. He communicated with us constantly and clearly. I absolutely recommend his services. Owning our forever home post-military retirement and finally settling down and raising our family has been our goal for a long time and Ed helped make that a reality for us. Thanks again Ed!
I am thoroughly blessed, thankful and satisfied with the process. And all the time that it took the different steps it took to get this process done. Thank you, well done.
Ed is a true professional and I would recommend him to friends and family without hesitation. He kept us informed every step of the way all the way to closing! He's also just a really nice human being. No need to look anywhere else for your home loan needs cause Ed knows his stuff.
From beginning, middle, and end of this home lending experience my work with Ed, and Amy has been wonderful. They have been very supportive, and generous with their kindness, and they have excellent professionalism with regard to working well with all parties involved. Their knowledge, experience, and time has been much appreciated. Thank you so much, and I look forward to the next time we meet!
Reviews are shown as published on Ed’s Google Business Profile. Google provides up to five of them here.