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San Marino sits in one of Los Angeles County's most expensive neighborhoods. Median home prices routinely exceed $2 million.
VA loans here often hit conforming limits fast. Many eligible veterans need jumbo VA financing to compete in this market.
The VA loan's zero-down benefit matters more in San Marino than almost anywhere else. Saving $400K for 20% down takes years.
Most San Marino sellers work with experienced agents who understand VA appraisals. The program carries less stigma here than in cheaper markets.
VA Loans in San Marino
You need a valid Certificate of Eligibility and typically 580+ credit. Most San Marino deals require 620+ to get competitive rates.
No down payment required on purchases up to $832,750. Above that, you'll need 25% of the difference between price and the conforming limit.
VA doesn't set income limits, but debt-to-income matters. Count on showing you can handle $10K+ monthly payments in this market.
Surviving spouses qualify if they haven't remarried. National Guard members need six years of service for eligibility.
Local decision guide
Use this guide to connect va loans eligibility, lender expectations, and local market factors before comparing payment options in San Marino.
San Marino sits in one of Los Angeles County's most expensive neighborhoods. Median home prices routinely exceed $2 million.
VA loans here often hit conforming limits fast. Many eligible veterans need jumbo VA financing to compete in this market.
The VA loan's zero-down benefit matters more in San Marino than almost anywhere else. Saving $400K for 20% down takes years.
About 40% of mortgage lenders handle VA loans. Fewer specialize in jumbo VA financing above conforming limits.
San Marino purchases usually need jumbo expertise. Generic VA lenders can't help once you cross $832,750.
Underwriting takes 25-35 days for standard VA loans. Jumbo VA adds another week for secondary review.
We access 30+ lenders offering jumbo VA programs. Rate spreads vary by 0.5% between best and worst options.
San Marino listings move fast despite high prices. Get pre-approved before you tour anything serious.
VA appraisals here rarely kill deals. Appraisers know the market and properties are generally well-maintained.
The funding fee runs 2.3% for first-time use with zero down. On a $2M purchase, that's $46K added to your loan.
Disabled veterans get the funding fee waived. That $46K savings makes a material difference in monthly payments.
Conventional loans need $400K down on a $2M San Marino home. VA needs zero. That difference is the entire comparison.
Jumbo conventional rates run 0.25-0.5% higher than conforming. Jumbo VA rates match or beat standard VA pricing.
FHA loan limits max out at $832,750 in LA County. Same as VA conforming, but FHA requires 3.5% down plus mortgage insurance.
If you qualify for VA, nothing else makes financial sense in this price range. The alternatives all cost significantly more.
San Marino's top-rated school district drives prices higher. Many veteran families target this area specifically for schools.
Properties here are mostly single-family homes built pre-1970. VA inspectors know what to look for in older construction.
HOAs are rare in San Marino compared to neighboring Pasadena. You'll avoid the VA's strict HOA financial review on most purchases.
Competition comes mainly from conventional buyers with substantial cash. Your zero-down VA offer needs strong other terms to compete.
Yes, but you'll need 25% of the amount over $832,750 as down payment. On $3M, that's about $558,625 down.
Most do in this market. Properties here appraise reliably and agents understand VA transactions.
Standard VA loans close in 30-35 days. Jumbo VA adds another week for additional underwriting review.
Minimum 580 qualifies you. You'll want 620+ to access competitive rates on jumbo amounts.
Yes, 2.3% on first use with zero down. Disabled veterans and certain surviving spouses get it waived.
No, VA requires an appraisal. But San Marino appraisals rarely cause issues due to stable market data.