Loading
VA Loans in Cerritos
Cerritos sits in the sweet spot where VA loan limits actually matter. Many single-family homes here push past $800K, but the 2024 VA conforming limit of $766,550 still covers a decent chunk of inventory.
Veterans stretching above that limit face a 25% down payment on the difference. A $900K home means putting $33,363 down—still better than 20% conventional, but the zero-down advantage shrinks fast at higher price points.
You need a Certificate of Eligibility proving 90+ days active duty or six years in Reserves/Guard. Most veterans with honorable discharge qualify immediately.
VA doesn't set a minimum credit score, but most lenders want 620+. Debt-to-income can stretch to 50% if you have strong compensating factors—room to breathe compared to conventional caps.
Not every lender handles VA loans well. Some drag their feet on appraisals or don't understand how to structure deals above conforming limits.
We route Cerritos VA deals to lenders who close in 21-25 days and know how to navigate tricky appraisal issues. The VA appraisal process is stricter than conventional—peeling paint or missing railings can kill deals with inexperienced lenders.
The 2.15% VA funding fee catches borrowers off guard. On a $700K purchase, that's $15,050 rolled into your loan. First-time VA users with 10%+ service-connected disability pay zero—check your VA status before assuming you'll pay it.
Cerritos has plenty of condos, but VA only approves units in VA-approved complexes. If the HOA hasn't done the paperwork, you're stuck. Always verify approval status before writing offers on condos or townhomes.
FHA requires 3.5% down plus monthly mortgage insurance that never drops off on today's rates. VA skips both. On a $750K Cerritos home, that's $26,250 saved upfront plus $400+/month saved long-term.
Conventional loans beat VA only when you're putting 20%+ down anyway. Below that threshold, VA wins on rate and monthly cost for qualified veterans every single time.
Cerritos homes built pre-1978 need lead paint disclosures, and VA appraisers flag chipping paint as a health hazard. Budget for paint work if you're eyeing older inventory—sellers won't always cover repairs.
Traffic access to Los Alamitos Joint Forces Training Base runs 20-30 minutes from most Cerritos neighborhoods. Veterans stationed there often target the south side near South Street for shorter commutes.
Only if the complex has VA approval. Check the VA's condo database before making offers—non-approved buildings won't qualify.
Full entitlement covers $766,550 with zero down. Above that, you'll put 25% down on the amount over the limit.
Veterans with 10%+ service-connected disability are exempt. Purple Heart recipients also skip the fee regardless of disability rating.
Typically 7-10 days to schedule, then 3-5 days for the report. Budget 14 days total from order to completed appraisal.
They can, but VA loans close as fast as conventional when you use experienced lenders. Strong pre-approval letters level the field.
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.