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VA Home Loan

Under the Veteran Administration (VA) veterans and their spouses can take advantage of exclusive veteran home loan benefits. These benefits may include financing of up to 100% of the property’s value, lower interest rates, no mortgage insurance requirement, and lower closing costs than with conventional mortgages. VA Loan programs are for veterans, reservists, and active-duty service members.

The VA Loan program is the most powerful home loan program on the market for veterans and military families. These flexible, government-backed loans come with significant benefits that open the doors of homeowner ship to veterans who might otherwise struggle to obtain financing.

The VA loan program’s signature benefits include:

  • No Down Payment (up to the county High Balance limits)*
  • No Private Mortgage Insurance (PMI)
  • Competitive Interest Rates
  • No Pre-Payment Penalty

If you are or have ever been a member of the United States Military, you may qualify for VA loan benefits.

VA loans follow the Fannie Mae and Freddie Mac loan limits. Check out the chart below to see the limits for Santa Cruz, Santa Clara and Monterey counties.  Click here for a list of all counties in California. (Opens in Microsoft Excel)

*For loans exceeding the county limits in the chart below a down payment is required. (Example: The max loan amount for a single family in Santa Cruz and Santa Clara counties is $1,113,263 and would require a down payment on the order of 10.71%. VA provides a precise calculation to determine down payment required.)

Santa Cruz Home Finance is not affiliated with or acting on behalf of or at the direction of FHA, VA or the Federal Government.

 # of Units                                     VA Loan Limit for  Santa Cruz & Santa Clara Counties

     1                                                                                       $636,150

     2                                                                                       $814, 500

     3                                                                                       $984,525

     4                                                                                       $1,223,475

# of Units                                                      VA Loan Limit for Monterey County

     1                                                                                      $575,000

     2                                                                                      $736,100

     3                                                                                      $889,800

     4                                                                                      $1,105,800

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