Short sales have been very common throughout the state of California the last four years.  Many borrowers have found themselves upside down on their properties after the decline in house prices mostly in 2008 and 2009.  The good news is that you can get a VA loan only two years after a short sale.  This means many VA eligible borrowers that had short sales in the last few years are eligible to get in again now at California’s current low house prices and low interest rates.

If you had a short sale over two years ago, the key is to look up the date when the deed to the property transferred out of you name.  Give us a call 858-922-7899 or email homeloan8@gmail.com and we would be happy to do this for you.  As long as the deed transferred out of the property over two years ago, you are likely eligible to qualify for a VA home loan in California.

Below are some highlights of VA home loans in California:

• VA loan limits for 100% financing are $700,000 in Orange County, Los Angeles, Anaheim, Santa Ana.  Santa Barbara VA loan limits a $710,000.  VA loan limits in San Francisco, Oakland, San Jose are $1 million.  San Diego VA loan limits are $546,250.  VA loan limits in Sacramento, Riverside, San Bernardino, Redding, Fresno, Bakersfield and a lot of the rest of the state are $417,000.
• VA goes to 100% financing and had NO monthly mortgage insurance
• VA loan credit scores do not have to perfect, call or email us for a consultation if you would like to discuss your credit score

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