VA Loans
VA loans are government-backed mortgages guaranteed by the U.S. Department of Veterans Affairs. They are designed exclusively for those who have served — offering no down payment, no monthly mortgage insurance, and competitive rates for eligible veterans, active-duty service members, and surviving spouses.
At Lendia, we specialize in VA loans for California veterans. Whether you’re buying your first home in Orange County, refinancing an existing VA loan, or using your benefit for the second time, we guide you through every step.
VA Loan At a Glance
| Feature | Details |
|---|---|
| Minimum Down Payment | 0% with full entitlement |
| Minimum Credit Score | 580 (lender overlay); no-score option available |
| Loan Limits | No limit with full entitlement; county limits apply with partial entitlement |
| Monthly Mortgage Insurance | None — ever |
| VA Funding Fee | 2.15% first use / 3.30% subsequent for many zero-down purchases (lower fees and exemptions may apply) |
| Seller Concessions | Up to 4% of the purchase price |
| Prepayment Penalty | None |
| Eligible Properties | 1–4 unit primary residences, VA-approved condos, PUDs, manufactured homes |
VA Loan Education — Full Q&A Library
Browse our complete library of VA loan guides below. Each article is written in plain language for California veterans, homebuyers, and real estate agents — sourced directly from current VA lending guidelines.
- What Is a VA Loan?
- Who Qualifies for a VA Loan?
- How to Get Your VA Certificate of Eligibility
- VA Loan Credit Score Requirements
- Do VA Loans Require a Down Payment?
- What Is the VA Funding Fee — and Can It Be Waived?
- VA Loan vs. FHA vs. Conventional — Which Is Better?
- Pros and Cons of a VA Loan
- What Properties Can You Buy with a VA Loan?
- Can You Buy a Multi-Unit Property with a VA Loan?
- Can You Use a VA Loan More Than Once?
- How Does VA Loan Entitlement Work?
- What Is the VA Residual Income Requirement?
- Can a Self-Employed Veteran Get a VA Loan?
- Can You Use a VA Loan to Buy a Manufactured Home?
- Do VA Loans Have Prepayment Penalties?
- What Is a VA IRRRL (Streamline Refinance)?
- What Is a VA Cash-Out Refinance?
- How Long Do You Have to Wait to Refinance a VA Loan?
- VA IRRRL vs. Conventional Refinance — Which Makes More Sense?
Ready to Get Started?
Connect with a Lendia loan advisor to review your VA loan options and get started on pre-approval. We’ll walk you through every step.
What to expect when you apply for a VA loan
Most VA purchases follow the same sequence, and knowing it ahead of time keeps surprises out of the middle of a contract. We start by confirming eligibility and pulling your Certificate of Eligibility, which also shows how much entitlement you have available. Next we review income, credit and debts, including VA’s residual income test. Once you have a contract, a VA appraisal checks both value and the property’s condition against VA Minimum Property Requirements. Underwriting then clears any remaining conditions, and you sign at closing.
Every borrower receives a Loan Estimate within 3 business days of applying and a Closing Disclosure at least 3 business days before closing, so you can compare the final numbers against what you were first shown.
Which VA path fits your situation
- Buying your first home with your benefit: start with who qualifies and the Certificate of Eligibility.
- Buying again: see reusing your benefit and how entitlement works.
- Lowering the payment on a VA loan you already have: the IRRRL streamline is built for this.
- Turning equity into cash: read about the VA cash-out refinance.
- Buying a duplex, triplex or fourplex: see multi-unit VA purchases.
Who the VA category tends to fit
VA financing suits eligible borrowers who plan to live in the home. It is not available for pure investment properties or vacation homes. Veterans who want to buy a rental they will not occupy would look at conventional or other programs instead.
Frequently asked questions
Do I have to be a first-time buyer?
No. The benefit is not limited to first-time buyers. What matters is your eligibility, your remaining entitlement and that the home will be your primary residence.
Does the VA make the loan?
No. VA backs loans made by private lenders. Lendia is a California mortgage brokerage, so we compare options across the lenders we work with and help you through the file.
Can I get a VA loan if I am still on active duty?
Yes, active-duty members can qualify. Instead of a DD-214 you provide a Statement of Service, and your COE reflects your current status.