There are thousands and thousands of VA eligible homeowners in California that have gone though a short sale in the past few years in California. The great news for those that are eligible for VA financing is that you only have to wait two years from the date the deed to the property that short sold transfers out of your name. VA home loan requirements allow you to qualify for a 100% financing VA loan only two years after a short sale.
VA home loan requirements after a short sale also will require you to have good credit following the short sale. You will want to make sure you do not have any late payments on any credit accounts, collections, judgments or any derogatory credit. Having a derogatory credit after the short sale may not disqualify you for loan approval, but it helps to not have any.
The first step is to make sure of your VA home loan eligibility after a short sale is to know the date the deed transferred out of your name for the short sale. If you need me to look this up for you, feel free to email me at homeloan8@gmail.com with the address or call me at 858-922-7899.
Below are some of the current highlights of VA home loans in California:
- VA mortgage loan limits are $625,000 in Los Angeles, Orange County, Anaheim, Santa Ana, San Jose, San Francisco and the rest of the Bay Area. VA loan limits are $477,000 in San Diego. Most of the rest of California including Sacramento, Fresno, Bakersfield, Redding, Riverside, San Bernardino, Santa Rosa, etc… have VA loan limits of $417,000. You can go above these VA loan limits with a small down payment.
- VA home loan requirements only require a two year wait after bankruptcy, foreclosure and short sale
- VA home loan rates are shockingly low right now and have never been this low
- VA home loans are 100% financing with no mortgage insurance
- VA loan guidelines waive the VA funding fee for veterans that receive disability pay
Regards,
Best Regards,
Rob Chomentowski
858-922-7899, homeloan8@gmail.com
Sr. Loan Officer (and VA specialist)
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