Loading
Loading
Shasta Lake sits in a market where $750,000 homes are realistic for buyers with solid income. At 5.5%, a zero-down VA loan on that price runs $4,258 monthly for principal and interest alone.
The county's median household income of $71,931 means most families stretch to afford homes in the $550K–$650K range. VA loans let military buyers skip that down-payment hurdle entirely. That's the core appeal in a market where saving 20% takes years.
5.5%
Interest Rate
$4,258
Monthly P&I
740
FICO Minimum
$0
Down Payment
$750,000
Loan Amount
30 days
Lock Period
VA Loans in Shasta Lake
VA loans require a Certificate of Eligibility from the VA. You need 740 FICO minimum and active or honorable discharge. Down payment is zero — that's the entire point.
At Shasta County's median income of $71,931, a household qualifies for roughly $550K in lending power before hitting DTI limits. A $750K purchase requires higher income or a co-borrower.
Local decision guide
Use this guide to connect va loans eligibility, lender expectations, and local market factors before comparing payment options in Shasta Lake.
Shasta Lake sits in a market where $750,000 homes are realistic for buyers with solid income. At 5.5%, a zero-down VA loan on that price runs $4,258 monthly for principal and interest alone.
The county's median household income of $71,931 means most families stretch to afford homes in the $550K–$650K range. VA loans let military buyers skip that down-payment hurdle entirely. That's the core appeal in a market where saving 20% takes years.
VA loans require a Certificate of Eligibility from the VA. You need 740 FICO minimum and active or honorable discharge. Down payment is zero — that's the entire point.
VA lending in California is dominated by portfolio lenders and correspondents who sell to Fannie Mae or Freddie Mac. Retail banks offer VA loans but often have tighter overlays on credit and reserves.
Closing timelines run 30–45 days for VA loans statewide. The VA appraisal takes 10–14 days and can't be rushed. Most lenders require 2–3 months reserves (liquid assets after closing) at this loan size.
VA loans make sense in Shasta Lake when you have stable income and a 740+ FICO. The zero-down feature is real money — it's the difference between buying now and waiting five years to save.
Where VA doesn't pencil: if your income is below $85K and you're stretching to $750K, conventional at a lower price point may close faster. VA appraisals can kill deals if the property doesn't meet VA standards.
Conventional loans at 20% down require $150,000 cash upfront on a $750K purchase. VA requires zero down. The rate difference is typically 0.125–0.25% in VA's favor, but you're comparing apples to apples only if the conventional buyer has the down payment...
FHA loans run lower rates than VA but carry lifetime mortgage insurance if you put down less than 10%. VA has no insurance — the funding fee is a one-time cost. For a $750K purchase, FHA's lifetime insurance costs more over 30 years than VA's upfront fee.
Shasta Lake is home to a large military and veteran population. The VA hospital in nearby Redding serves the region, and many veterans stay in the area after service. That means local lenders understand VA loans and close them quickly — no surprises.
The county's median income of $71,931 reflects a working-class market. VA loans level the playing field for military families who might not have six figures saved. In Shasta Lake, that's a real advantage.
No — zero down is the entire point of VA loans. You pay a funding fee (2.15% for first-time use) that rolls into the loan. No cash down, no PMI, no down-payment savings required.
At 5.5% with zero down, principal and interest run $4,258 per month. Add property taxes, insurance, and HOA if applicable. The funding fee of 0.197 points ($1,478) rolls into the loan balance.
No — most lenders require 740 FICO minimum for VA loans. Some portfolio lenders go to 720 with compensating factors, but 740 is the standard floor in California.
If you have a 10% or higher VA disability rating, you're exempt from the funding fee. That saves 2.15% upfront — $16,125 on a $750K loan. Purple Heart recipients and surviving spouses are also exempt.
Typically 30–45 days in California. The VA appraisal takes 10–14 days and can't be rushed. Most delays come from the appraisal or title issues, not the lender.