The California VA county loan limit for 2013 has been published and the maximum VA loan limit in all California ‘high-cost’ counties has been reduced slightly.
Blog Update ==> California’s VA Loan Limits updated for 2014
The updated 2013 VA loan limit in California’s high cost counties still provides financing up to $987,500 with $0 down payment, assuming the veteran has the required eligibility and remaining entitlement. Not bad for not having monthly paid mortgage insurance, right? 
The Dept of Veterans Affairs (VA) technically doesn’t set a maximum loan amount, but rather the VA establishes a maximum amount they will guaranty.
How To Borrow More Than 2013 VA County Loan Limit
The Veterans Administration will allow a Veteran in California to borrower more than the 2013 maximum VA county loan limit if they have a small down payment. The down payment required is equal to 25% of the difference in the purchase price and the county limit.
Purchase Example ==> If you were buying a $475,000 home in Riverside County where the VA loan limit is $417,000, the difference is $58,000. To calculate the down payment needed, simply multiply $58,000 X 25% = $14,500, and that would be the required down payment (3%) .
Refinance Example ==> Refinancing a current VA loan balance higher than the county loan limit is a similar calculation except you use the appraised value rather than the purchase price.
2013 VA County Loan Limits in Southern California
- Riverside County 2013 VA Loan Limit: $417,000
- San Bernardino County 2013 VA Loan Limit: $417,000
- Orange County 2013 VA Loan Limit: $668,750
- Los Angeles County 2013 VA Loan Limit: $668,750
- San Diego County 2013 VA Loan Limit: $500,000
2013 VA California High Cost County Loan Limits:
- Alameda County: $987,500
- Contra Costa County: $987,500
- Marin County: $987,500
- Napa County: $521,250
- San Benito County: $823,750
- San Francisco County: $987,500
- San Luis Obispo County: $481,250
- San Mateo County: $987,500
- Santa Barbara County: $593,750
- Santa Clara County: $625,500
- Santa Cruz County: $823,750
- Sonoma County: $448,750
- Ventura County: $546,250
Check the VA Guaranty Loan Funding Fee Table Chart
Get Approved for a California VA Mortgage
If you want to purchase and are an eligible Veteran, are unsure if you even have any remaining entitlement or eligibility, or have questions about refinancing your current loan loan into a new lower rate VA loan and want to know where to start, just contact me direct (951) 215-6119 or request a time to talk here.
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