Loading
VA Loans in West Hollywood
West Hollywood homes routinely sell above LA County's 2025 VA loan limit of $766,550. That creates a split market for veterans.
Properties under the limit get 100% financing. Above it, you put down 25% of the excess—still better than 20% on a conventional jumbo.
Most veteran buyers here target condos near Santa Monica Boulevard or smaller single-family homes in the flats. Anything on the hills blows past conforming limits.
The WeHo condo market favors VA borrowers. No down payment beats competing with cash-heavy buyers putting down 30%.
You need a Certificate of Eligibility from the VA and at least 90 consecutive days of active duty during wartime or 181 days during peacetime. National Guard members qualify after six years.
Credit minimums hit 580-620 depending on the lender. Most require two years since bankruptcy, one year since foreclosure if VA-related.
Debt-to-income can stretch to 50% with strong residual income. VA uses regional tables—higher housing costs in WeHo mean you need more monthly cushion.
No reserve requirements exist, but compensating factors help above 45% DTI. Lenders want to see cash savings even when guidelines don't require it.
Twenty lenders in our network handle VA loans, but only eight move fast enough for West Hollywood's market. Offer deadlines here run 3-5 days.
Credit unions beat banks on rates by 0.125-0.25%. They also waive lender fees more often, saving $1,500-$2,000 at closing.
For high-balance VA loans above the conforming limit, your options drop to five lenders. Rate premiums run 0.375-0.5% versus standard VA rates.
Watch the funding fee. First-time use costs 2.15% of the loan amount unless you're exempt for disability. That's $16,500 on a $766,550 loan.
Most WeHo listing agents don't understand VA appraisals. They panic about peeling paint or missing handrails when those rarely kill deals anymore.
The 2019 VA appraisal changes removed most deal-breakers. Chipped paint is fine. Broken windows aren't. We pre-educate sellers before submitting offers.
Condos need VA approval, and half of West Hollywood's buildings aren't on the list. We check approval status before showing properties to save time.
Sellers worry VA buyers can't compete. We structure offers with appraisal gap coverage up to $25,000 when buyers have reserves. That neutralizes the stigma.
Conventional loans require 5% down minimum. On a $750,000 WeHo condo, that's $37,500 versus zero for VA.
FHA loans cap at $644,000 in LA County and charge both upfront and annual mortgage insurance. VA's funding fee is lower and has no annual component.
Jumbo loans demand 10-20% down and perfect credit. VA high-balance loans require zero down under the limit, 25% only on the excess above $766,550.
For a $900,000 property, VA requires $33,363 down. Conventional jumbo wants $180,000. That difference keeps veterans competitive in this market.
West Hollywood is unincorporated LA County for tax purposes but has city services. That confuses appraisers who pull comps from both WeHo and Beverly Hills.
HOA fees run $400-$800 monthly in most WeHo condos. VA counts that in your debt ratio, which tightens qualification on smaller units.
Rent control doesn't affect owner-occupied purchases, but resale gets complicated if you convert to a rental later. VA buyers need exit strategy clarity.
Parking is a hidden cost. Many condos charge $200-$300 monthly per space on top of HOA dues. Factor that into residual income calculations.
Yes, if the building is VA-approved. About half of WeHo condos have approval. We check the VA's condo database before you tour properties.
You put down 25% of the amount above the limit. On an $850,000 home, that's $20,863 down—still far less than conventional jumbo requirements.
Yes, when structured properly. We add appraisal gap coverage and fast close timelines to compete with conventional buyers.
18-25 days from contract to closing with the right lender. COE processing adds 7-10 days if you don't have yours yet.
No. VA rules require an appraisal and won't let you pay more than appraised value without cash to cover the gap.
Not with strong pre-approval and gap coverage. We've closed 40+ VA deals here against all-cash offers by positioning them correctly.
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.