California VA Loans
$0 Down | No PMI | Best Rates

A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs, available to eligible veterans, active-duty service members, National Guard, Reserves, and certain surviving spouses. VA loans offer exceptional benefits: $0 down payment, no PMI, competitive rates, and flexible credit requirements. You'll need a Certificate of Eligibility (COE) to prove your entitlement.

You can obtain your COE through several methods: (1) Apply online through eBenefits, (2) Have your lender request it through the VA's Web LGY system (fastest method), or (3) Mail VA Form 26-1880 to the VA. Most lenders can retrieve your COE electronically within minutes. LendyWendy's partner lenders handle this process for you.

For veterans with full entitlement (never used VA loan or paid off previous VA loan), there is NO loan limit - you can borrow as much as a lender will approve with $0 down. For veterans with reduced entitlement, limits apply based on county. California's high-cost counties allow up to $1,249,125 with full entitlement benefits.

The VA funding fee ranges from 1.25% to 3.3% of the loan amount, depending on down payment and whether it's your first VA loan. The fee can be financed into your loan. Veterans receiving VA disability compensation, Purple Heart recipients, and surviving spouses are exempt from the funding fee entirely.

VA loans are for primary residences only - you cannot use a VA loan for pure investment properties. However, you CAN buy a multi-unit property (up to 4 units) with a VA loan if you live in one unit. This lets you house-hack and collect rent from other units while using your VA benefit.

For eligible veterans, VA loans are almost always better: $0 down vs 3-20% down, no PMI vs PMI until 20% equity, lower rates, and more flexible credit requirements. The only scenario where conventional might win is if you have 20%+ down and want to avoid the VA funding fee, but even then VA rates are often lower.

Yes! You can use your VA loan benefit multiple times. If you've paid off a previous VA loan, your full entitlement is restored. You can also have multiple VA loans simultaneously if you have remaining entitlement. Second-time users pay a higher funding fee (3.3% vs 2.15% with $0 down).

The VA itself has no minimum credit score requirement, but most lenders require 580-620. Some VA lenders work with scores as low as 500. LendyWendy matches you with lenders who specialize in VA loans across all credit profiles, including those rebuilding credit after military service.