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VA Loans in Exeter
Exeter's agriculture-centered economy draws veterans seeking affordable rural living within reach of Sequoia National Park. VA loans eliminate down payment barriers in a city where military buyers compete with local families.
Small-town inventory moves fast here. Veterans with pre-approved VA financing close deals that conventional buyers miss. The zero-down advantage matters more in tight supply markets.
Tulare County's lower cost basis compared to coastal California makes VA loan limits a non-issue for most Exeter properties. You're buying well within conforming boundaries without jumbo complications.
You need a Certificate of Eligibility showing adequate service time or discharge status. Most veterans with 90+ days active duty during wartime or 181+ days during peacetime qualify. Surviving spouses maintain eligibility under specific conditions.
Credit minimums sit around 620 for most VA lenders, though we access programs accepting 580 scores. Income verification follows standard employment rules—W-2s, tax returns, or 1099s for self-employed borrowers.
The VA doesn't set debt ratios, but lenders typically cap at 41% with residual income requirements. These residual calculations often help veterans qualify when conventional DTI formulas wouldn't work.
Not every lender handles VA loans well. Some overlay ridiculous restrictions beyond VA minimums—requiring 640 credit when 620 qualifies, or refusing manufactured homes that meet HUD standards.
We work with 200+ wholesale lenders to find those actually interested in VA business. Some specialize in recent credit events, others handle complex income scenarios that big banks reject.
VA appraisals require specific certifications and property condition standards. Exeter's older housing stock sometimes needs minor repairs flagged during inspection. Lenders familiar with rural markets move these through efficiently.
Veterans often assume VA loans cost more in fees. False. The funding fee ranges 1.4%-3.6% depending on service type and down payment, but it finances into the loan. You're still out zero cash compared to 3-5% down elsewhere.
Disabled veterans rated 10%+ get funding fee waivers—that's thousands saved. Always get your VA disability rated before applying if you have service-connected conditions. The waiver applies retroactively to closing.
Exeter sellers sometimes hesitate on VA offers assuming appraisal hassles. We pre-clear properties and educate listing agents. Most concerns evaporate when they see zero buyer financing contingencies falling through.
FHA requires 3.5% down plus permanent mortgage insurance. VA eliminates both. On a $350,000 Exeter home, that's $12,250 down payment avoided and $200+ monthly PMI savings forever.
USDA loans offer zero down for rural properties but impose income limits that disqualify many veteran households. VA has no income caps—earn what you want and still qualify.
Conventional loans need 5-20% down and carry PMI until 20% equity. Veterans bypassing these costs build equity faster and maintain lower monthly obligations from day one.
Exeter's citrus and agriculture employment can complicate income documentation for seasonal workers. VA loans accommodate irregular pay better than conventional programs when we show consistent two-year history.
Older homes near downtown sometimes trigger VA appraisal repairs—peeling paint, roof condition, HVAC functionality. Budget $2,000-$5,000 for typical items. Sellers often credit these at closing in this market.
Well and septic systems are common outside city limits. VA requires well water testing and septic inspection certifications. These add 7-10 days to closing timelines but protect you from expensive surprises.
Tulare County allows manufactured homes built post-1976 on permanent foundations. VA finances these when titled as real property. Confirm foundation type and title status before writing offers on manufactured inventory.
Yes, VA loans cover rural properties with land. The home must be your primary residence, but acreage for personal use is fine.
VA requires certain safety items fixed before closing. We negotiate seller credits or use renovation VA loans for larger projects.
Veterans with 10%+ VA disability ratings get full funding fee waivers. Purple Heart recipients also qualify for waivers.
Full approval takes 3-4 weeks typically. COE delays sometimes add days, so request your certificate early in the process.
Standard VA loans require move-in condition. VA renovation loans handle properties needing work up to $50,000 in repairs.
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.