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VA Loans in San Gabriel
San Gabriel sits in central LA County where home prices regularly hit $800K to $1.2M. Veterans here face the same sticker shock as everyone else.
VA loans eliminate the down payment barrier that kills most conventional deals. You skip 20% down and still avoid PMI.
The VA county loan limit for Los Angeles is $1,149,825 in 2024. Above that, you need a down payment on the difference.
You need a Certificate of Eligibility from the VA. Most veterans with 90+ days active duty qualify, along with current service members and certain surviving spouses.
Credit minimums vary by lender but most want 620+. Some lenders go to 580 for strong compensating factors.
Debt-to-income can stretch to 50% or higher. VA residual income requirements matter more than DTI for final approval.
The property must meet VA appraisal standards. Flipped homes need 90 days of seller ownership before VA will finance them.
Not every lender handles VA loans well. Some wholesale lenders add overlays that kill deals VA guidelines would approve.
VA loans carry a funding fee ranging from 1.4% to 3.6% depending on service type and down payment. Disabled veterans get this waived.
Processing takes 30-45 days on average. VA appraisals add time compared to conventional deals.
We route San Gabriel VA loans to lenders who understand the program and don't pile on unnecessary restrictions.
Veterans in San Gabriel often underestimate what they can afford. Zero down means you keep cash for closing costs and reserves instead of burning it on 20%.
I see borrowers waste their VA benefit on starter homes. You can use it multiple times but only once at a time. Buy what you plan to keep.
The VA appraisal protects you but kills deals on fixers. If you want a renovation project, VA isn't your loan.
San Gabriel has older housing stock. VA appraisers flag peeling paint, roof issues, and foundation cracks. Get a pre-inspection before making offers.
FHA requires 3.5% down plus ongoing mortgage insurance. VA beats it on both counts for eligible borrowers.
Conventional loans need 20% down to skip PMI. That's $200K+ on a typical San Gabriel home versus zero with VA.
Jumbo loans require 10-20% down and stricter credit. VA goes to the county limit with zero down and looser underwriting.
The trade-off is property condition. Conventional and jumbo lenders care less about peeling paint than VA appraisers do.
San Gabriel borders Alhambra, San Marino, and Temple City. Prices vary by $200K across a two-mile radius.
North San Gabriel near the foothills runs more expensive. South of Las Tunas stays closer to the county limit.
Many San Gabriel homes were built pre-1970. VA appraisers scrutinize older properties for deferred maintenance and safety issues.
The city attracts multigenerational buyers. VA allows co-borrowers but only the veteran gets zero down treatment.
Yes, but you need a down payment on the amount over the county limit. The rest still gets zero down treatment with no PMI.
Some do because of appraisal concerns. A strong offer with quick closing and minimal contingencies helps overcome resistance.
You can pay the difference in cash, renegotiate, or walk away. Unlike conventional loans, sellers can't force you to make up the gap.
Yes, up to four units if you occupy one. San Gabriel has limited multi-family inventory but VA finances what's available.
Unlimited times over your life. You restore eligibility by selling and paying off the previous VA loan or having sufficient remaining entitlement.
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.