Are You A Veteran Struggling To Find A Mortgage in California? You May Have Overlooked Your Best Option

Buying a home can be stressful enough, and when it comes to securing financing for that home, your anxiety can quickly rise.
But if you are an active service member, veteran, or surviving spouse, your search for a home mortgage should be simple: look to VA loans.
VA loans offer veterans several advantages, such as:
No down payment
No private mortgage insurance (PMI)
Easier qualifying criteria
Lower required credit scores
If you’re shopping for a new home in Corona, CA and are considering a conventional mortgage, you’ll need to make a typical down payment of 20%, will need to obtain PMI and pay associated premiums, and you’ll typically need a credit score of at least 620 just to qualify. Not to mention, individual lenders may have higher criteria, particularly in hot real estate markets like Southern California.
Getting a VA loan can be a surprisingly easy process for veterans. You don’t need to track down a specific office somewhere to get a loan, and instead, can apply directly with authorized local lenders who will issue the mortgage. Your agreements and paperwork will all be done with this local lender while the VA will guarantee an amount up to the loan limits, giving your lender the security that your loan is insured.
To receive VA loan benefits, you’ll need to provide proof of service with a DD Form 214 which verifies your position, length of service, and condition of discharge or release, if applicable. It’s also possible to meet first with a prospective lender who can help you retrieve this information.
Any property that you want to take out a VA loan for will need to be appraised. This must be done by an authorized appraiser, and there is a strict schedule of fees and timing that the VA requires.