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VA Loans in Corte Madera
Corte Madera sits in one of California's priciest counties, where most homes exceed conforming loan limits. VA loans in Marin County max out at $1,149,825 with zero down—well above the standard $766,550 limit.
That ceiling covers condos near Town Center but falls short for single-family homes in neighborhoods like Christmas Tree Hill. Most VA buyers here use the program for attached housing or combine it with cash to close gaps on detached properties.
The VA funding fee—waived for disabled veterans—runs 2.15% on zero-down purchases for first-time users. On a $1M Corte Madera condo, that's $21,500 rolled into your loan unless you have a service-connected disability rating.
You need a Certificate of Eligibility from the VA plus 580+ credit for most lenders. Income requirements depend on your debt-to-income ratio—the VA allows up to 60% DTI if compensating factors like residual income look strong.
Residual income matters more than in conventional loans. A family of four in high-cost Marin needs $1,117 monthly left after all debts and housing costs—the VA's benchmark for financial stability.
Property must pass VA appraisal standards, which flag deferred maintenance harder than conventional inspections. Wood rot, roof issues, and peeling paint kill deals in Corte Madera's older condo complexes until sellers make repairs.
About 40% of our wholesale lenders handle VA loans, but fewer than half of those work efficiently in high-cost California counties. Many cap lending at conforming limits or add overlays that disqualify otherwise eligible veterans.
The best VA lenders in Marin close in 21-25 days and know how to navigate appraisal issues common in older properties. They also understand how to structure deals when purchase prices exceed loan limits—requiring veterans to bring the difference in cash.
Some lenders offer VA jumbo products with down payments starting at 10% for loan amounts above $1,149,825. These aren't true VA loans but hybrid programs using VA eligibility as a credit enhancement.
We see two VA buyer profiles in Corte Madera: veterans targeting condos under $1M with zero down, and higher-income service members using VA for the rate advantage while bringing $200K-$400K cash to close on homes.
The no-down-payment benefit matters less here than the rate edge. VA rates typically run 0.25%-0.50% below conventional, which saves $200-$400 monthly on a $1M loan—meaningful even for well-qualified borrowers.
Veterans with 10%+ disability ratings skip the funding fee entirely, making VA loans economically superior to conventional even with 20% down available. On a $1M purchase, that's $21,500 in immediate savings plus lower rates for 30 years.
FHA loans allow 3.5% down but cap at $1,149,825 in Marin—same as VA—while requiring upfront and monthly mortgage insurance that never drops off. VA has no monthly MI and lower rates, making it strictly better for qualified veterans.
Conventional loans require 5%-20% down in this price range but work for homes above VA limits without the gap-financing headache. Jumbo loans start at $1,149,826 with 10%-20% down and stricter credit requirements than VA's 580 minimum.
For condos under the county limit, VA wins on cost. For single-family homes over $1.5M, conventional or jumbo financing makes more sense unless you're bringing substantial cash and want VA's rate benefit on the first $1,149,825.
Corte Madera's condo market—particularly around Town Center—sees consistent VA buyer activity. These attached properties typically fall within VA limits and meet appraisal standards better than older single-family homes needing deferred maintenance work.
HOA approval timelines add 7-10 days to Corte Madera condo purchases. VA lenders need questionnaires, budgets, and reserve studies before clearing properties—not all condo associations respond quickly, especially smaller complexes without professional management.
Flood zones near Corte Madera Creek require VA-approved flood insurance, which runs $800-$2,000 annually depending on elevation. Some older complexes have deferred levee maintenance that shows up in VA appraisals, requiring seller repairs or credits before closing.
Yes, but you'll need $650,175 cash for the difference above Marin's $1,149,825 VA limit. The VA loan covers the first portion with zero down.
They flag deferred maintenance more aggressively than conventional appraisers. Wood rot, roof issues, and foundation concerns require repairs before closing.
2.15% on zero-down first-time use—$21,500 on a $1M loan. Veterans with disability ratings pay zero funding fee regardless of loan amount.
Most lenders require 580 minimum. Higher scores unlock better rates, but VA guidelines allow approval at 580 with strong residual income.
Yes, if the complex is VA-approved or we get project approval during escrow. HOA approval adds 7-10 days to closing timelines.
Usually yes. VA rates run 0.25%-0.50% lower with no monthly mortgage insurance, saving hundreds monthly even if you have 20% down available.
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.