Government Loan Quick FAQs
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VA Home Loans
– Veteran does require a certificate of eligibility
– VA does not have a maximum loan limit
– 100% financing is available
(up to county loan limits)
– VA limits veterans closing costs
– Closing costs may be paid by seller
– There is no Private Mortgage Insurance
Updated 01/01/2013 - While VA does not have a maximum loan amount, the following county “limits” must be used to calculate VA’s maximum guaranty amount for a particular county. These limits apply to all loans closed January 1st, 2013 through December 31, 2013. The new maximum guaranty amount for San Diego county is $500,000. Riverside County's maximum guaranty amount remains at $417,000. SOURCE: United States Department of Veterans Affairs (Document)
Effective 07/01/2012 - Change in Timeliness Requirements for Appraisals for Arizona, California, Nevada, and New Mexico: VA appraisers will now have 7 business days to complete and upload an appraisal from the date it is ordered; down from the previous maximum of 10 business days.
NOTE: To prevent delays in the appraisal timeline it is important that your real estate professional provide a copy of the executed purchase agreement to your lender immediately and the lender immediately orders the appraisal upon receipt of the purchase agreement.
CalVet Home Loans
– Most veterans are eligible if you served on active duty for a minimum of 90 days
– Active duty members may use CalVet (Restrictions apply)
– No prepayment penalties
– Using CalVet can effect VA entitlement
Basic Allowance for Housing
FHA Home Loans
– Low down payments, as little as 3.5%
– Low closing costs
– Easy credit qualifying
CalHFA FHA Loan Program
- Borrower must be a first time homebuyer
- Must be purchasing a primary residence
- Down payment and closing cost assistance available
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For more PHOTOS, VIRTUAL TOURS & PROPERTY DETAILS, please click on
the "CURRENT LISTINGS" button from the menu at the top of this page
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SOLD
Traditional Sale in Mariposa
7960 Mission Vista Drive, San Diego CA 92120
Sold at $393,000
www.7960MissionVistaDr.com
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SOLD
Traditional Sale in Fallbrook
1524 McDonald Rd, Fallbrook CA 92028
Sold at $409,000
Represented Military Veteran Seller
www.1524McDonaldRd.com
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SOLD
Traditional Sale in Cambria, San Elijo Hills
956 Avalon Way, San Marcos CA 92078
Sold at $490,000
Represented Sellers
www.956AvalonWay.com
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SOLD
Traditional Sale in Magnolia Estates, Bressi Ranch
6381 Keeneland Dr, Carlsbad CA 92009
Sold at $1,300,000
Represented Buyer
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SOLD
New Construction/Builder Close Out in Edgehill Terrace
970 Audrey Place, Vista CA 92084
Sold at $578,950
Represented Buyers
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SOLD
Traditional Sale in Lake San Marcos
908 La Fiesta Way, San Marcos CA 92078
Sold at $198,000
Represented Buyer
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SOLD
Traditional Sale in Escondido
740 Fern St, Escondido CA 92027
Sold at $235,000
Represented Active Duty Military VA Buyer
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RANDALL HOOD
Broker/President
Certified Residental Specialist
Short Sales & Foreclosure Resource Certified
Certified HAFA Specialist
e-PRO Certified
Chief Warrant Officer-3 USMC (Retired)
DRE Lic. # 01703843
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RANDALL & GRACE HOOD
Properties By Hood, Inc.
800.578.0899 phone & e-fax
Contact Us
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GRACE HOOD
REALTOR®
Graduate Realtor Institute
Accredited Buyer Representative
Seniors Real Estate Specialist
Feng Shui Certified
Marketing Specialist
DRE Lic. # 01490545
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