VA Loans California — Zero Down for Veterans
VA Home Loans
You Served. Now Own Your Home with $0 Down.
VA loans are the most powerful mortgage benefit available — no down payment, no private mortgage insurance, and some of the lowest rates on the market. You earned it.
- $0 down payment required
- No private mortgage insurance (PMI)
- Competitive below-market rates
- No minimum credit score (VA guideline)
- Available for purchase & refinance
- Reusable benefit — use it multiple times
A VA loan is a mortgage benefit guaranteed by the U.S. Department of Veterans Affairs for eligible veterans, active-duty service members, and surviving spouses. It requires no down payment, no PMI, and has no minimum credit score set by the VA — making it the strongest home loan program available.
What Is a VA Loan?
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs. The VA guarantee protects lenders against loss, allowing them to offer favorable terms — including zero down payment and no PMI — to eligible borrowers. Options Home Loans is a VA-approved mortgage broker serving veterans throughout Southern California.
VA Loan Eligibility Requirements
You may be eligible for a VA loan if you are an active-duty service member with 90+ days of continuous service, a veteran who served 181 days during peacetime or 90 days during wartime, a National Guard or Reserve member with 6+ years of service, or a surviving spouse of a service member who died in the line of duty. You will need a Certificate of Eligibility (COE), which we can obtain on your behalf.
VA Loan Limits in California
As of 2020, VA loan limits were eliminated for borrowers with full entitlement — meaning you can borrow as much as a lender will approve with no down payment. If you have reduced entitlement (e.g., an existing VA loan), county loan limits apply. In high-cost Southern California counties like Los Angeles, Orange, and San Diego, limits can exceed $1.1 million.
VA Funding Fee
Most VA loans require a one-time VA funding fee ranging from 1.25% to 3.3% of the loan amount, depending on your down payment and whether it's your first VA loan. This fee can be rolled into the loan. Veterans with a service-connected disability rating of 10% or more are exempt from the funding fee entirely.
VA IRRRL — Interest Rate Reduction Refinance Loan
Already have a VA loan? The VA IRRRL (also called the VA Streamline Refinance) lets you lower your interest rate with minimal paperwork, no appraisal in most cases, and no out-of-pocket costs. It's one of the simplest refinance options available and can be completed in as little as 2–3 weeks.
VA Loans vs. Conventional Loans
For eligible veterans, VA loans almost always win on cost. No down payment saves tens of thousands upfront. No PMI saves $100–$300/month compared to a conventional loan with less than 20% down. And VA rates are typically 0.25%–0.50% lower than conventional rates. The only scenario where conventional may be better is if you have 20%+ down and want to avoid the funding fee.
You May Qualify If…
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Today's Real-Time Rates
See live rate options for your loan scenario. Rates update in real time and vary based on credit, loan amount, and property type.
Rates shown are for illustrative purposes and subject to change. Contact us for a personalized rate quote. NMLS #2221613.
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