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VA Loans in Hawaiian Gardens
Hawaiian Gardens sits at the crossroads of Long Beach, Cerritos, and Cypress. Veterans here compete with conventional buyers for single-family homes and condos. VA loans level that field with zero down.
Most properties in this compact city fall under LA County's 2024 VA loan limit of $766,550. You can borrow that amount without a down payment if your entitlement is intact. Above that threshold, you'll need 25% of the difference.
You need a Certificate of Eligibility from the VA and typically 580+ credit. Most lenders want two years removed from bankruptcy, one year from foreclosure. Income matters less than debt-to-income ratio.
VA doesn't set a minimum credit score, but lenders do. At 620+, you have access to most wholesale lenders. Below that, your options shrink fast. No maximum DTI exists, but plan on 41% as the realistic ceiling for clean files.
Not every lender handles VA loans the same. Some cap DTI at 45%, others stop at 50%. Some won't touch condos without PERS approval, which matters in Hawaiian Gardens where condos make up solid inventory.
Credit overlays vary wildly. One lender might approve 580 with compensating factors. Another won't budge below 620. This is where broker access to 200+ lenders makes a difference. We match your profile to lenders with the loosest overlays for your situation.
Veterans overpay constantly because they don't shop beyond their bank. VA funding fees hit 2.15% for first use with zero down. That's $16,000 on a $750,000 loan. Rate differences of 0.25% cost you $30,000 over seven years.
Sellers in Hawaiian Gardens often favor conventional offers. Counter that by waiving the VA appraisal repairs clause when the property is clean. Get pre-approved with full underwriting, not a basic pre-qual. Show the listing agent you close fast.
FHA requires 3.5% down plus monthly mortgage insurance that never drops off on most loans. VA has no monthly MI and zero down. On a $700,000 home, FHA costs $24,500 upfront plus $400/month ongoing. VA costs nothing down and nothing monthly.
Conventional loans at 5% down require PMI until you hit 20% equity. That's $35,000 down on a $700,000 house plus $250-$350/month in PMI. VA eliminates both. The funding fee is your only overlay, and it rolls into the loan.
Hawaiian Gardens has limited new construction. Most inventory is 1950s-1980s tract homes. VA appraisers flag peeling paint, faulty railings, and roof issues. Budget for a pre-inspection or target recently updated homes to avoid appraisal conditions.
The city is landlocked at 1.0 square miles. Inventory turns over slowly. When a solid property hits market, it moves fast. Have your COE in hand and lender lined up before you write offers. Delayed financing approvals kill deals here.
Yes, if the complex is VA-approved or gets PERS approval. We handle the PERS process with lenders who move fast on condo reviews.
2.15% for first use with zero down, 1.5% with 5%+ down, 3.3% for subsequent use. Disabled veterans and surviving spouses pay nothing.
Most do when you waive repair requests and come fully underwritten. Show strength by removing appraisal contingencies on clean properties.
Standard VA loans require move-in condition. Consider a VA renovation loan for properties needing work, though fewer lenders offer them.
20-30 days with a responsive lender. Delayed COE requests or appraisal repairs add time, so start the process early.
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.