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VA Loans in Lemoore
Lemoore sits next to Naval Air Station Lemoore, the Navy's largest master jet base on the West Coast. That means a steady flow of active-duty personnel and veterans looking to buy here.
The housing stock in Lemoore skews toward single-family homes built in the last 30 years. Most properties fall well within VA loan limits, making this one of the cleanest VA markets in California.
You need a Certificate of Eligibility from the VA showing sufficient service time. Active-duty members qualify after 90 consecutive days during wartime or 181 days during peacetime.
Veterans need discharge papers showing honorable service. National Guard and Reservists qualify after six years. Credit minimums typically sit at 620, though some lenders go lower.
No down payment required regardless of purchase price. The VA funding fee ranges from 2.15% to 3.3% for first-time use, waived entirely for disabled veterans.
Roughly half the lenders we work with handle VA loans, but experience levels vary wildly. Some process one VA deal per quarter. Others close them weekly.
The base proximity means local credit unions near Lemoore often have dedicated VA departments. They know the appraisal requirements and rarely fumble inspection issues.
National banks will do VA loans here, but their underwriters sit in Dallas or Charlotte. They get confused when appraisers mention septic systems or well water, both common in Kings County.
The biggest mistake I see: buyers assuming all VA loans price the same. Rate spreads between lenders hit 0.5% on identical scenarios because some subsidize veterans while others don't.
Appraisals kill more VA deals in Lemoore than credit issues. The VA requires working heating systems, functional septics, and chipping paint gets flagged. Older homes need pre-listing repairs or you'll hit conditions.
Stationed at NAS Lemoore but buying off-base? You can use a VA loan anywhere in Kings County. I've closed deals in Hanford and Corcoran for sailors who wanted more space.
FHA loans require 3.5% down and carry mortgage insurance forever unless you refinance. VA loans beat them on both counts if you qualify.
Conventional loans need 5% down minimum and hit you with PMI under 20% equity. Veterans leaving money on the table by not using their VA benefit.
USDA loans work in parts of Kings County and offer zero down for non-veterans. But they cap income and take twice as long to close as VA deals.
Kings County allows septic systems and private wells outside city limits. VA appraisers will test well water and inspect septic tanks. Budget $400-600 for those reports.
Lemoore city limits have public sewer and water. Those properties appraise faster because you skip the extra inspections. Expect 2-3 weeks versus 4-5 for rural parcels.
Military transfers happen year-round here. You're not competing with seasonal buyer waves like coastal California. Sellers expect VA offers and rarely push back on repair requests.
Yes, active-duty personnel stationed at NAS Lemoore qualify for VA loans throughout Kings County. You'll need your Certificate of Eligibility and standard credit approval.
Lemoore follows the standard VA loan limit of $766,550 for 2024 with zero down. Above that amount, you'll need 25% down on the excess portion only.
Yes, Lemoore sellers routinely accept VA offers due to the military presence at NAS Lemoore. Most local agents understand VA appraisal requirements and timelines.
VA loans in Lemoore close in 30-40 days typically. Add 1-2 weeks for rural properties requiring well and septic inspections outside city limits.
You can waive a home inspection, but the VA appraisal is mandatory and includes property condition requirements. Appraisers will flag safety issues that must be repaired.
Most lenders require 620 minimum for VA loans in Lemoore. Some go down to 580 with strong compensating factors like low debt ratios.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.